We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/rEVhCnC0vY
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/I1AA0UEyWq
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/o4zt4pmSzc
  • The $USDINR may fall as the Nifty 50 rises after the US and China avoided tariff escalation and Indian CPI increased at its fastest pace since July 2016 amid on onion shortage. Get your market update from @ddubrovskyFX here:https://t.co/iXLf98geXL https://t.co/uVwbkkkl09
  • My weekend trading video: 'A #Dow and Yuan Retreat Could Break 2019's Bullish Complacency' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/14/A-Dow-and-Yuan-Retreat-Could-Break-Break-2019s-Bullish-Complacency.html?CHID=9&QPID=917719
  • The $USD may extend declines against its ASEAN counterparts after the Fed rate decision. The Philippine Peso and Singapore Dollar are attempting key technical breakouts. Get your market update from @ddubrovskyFX here:https://t.co/JoPLb4Oi2q https://t.co/fKzeBlWaCx
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/Mf9e1cgWmR
  • The #Euro jumped higher to challenge range resistance capping upside progress since mid-October. Signs of ebbing momentum warn it may be back on defense soon. Get your market update from @IlyaSpivak here: https://t.co/MGqVDEWhUD https://t.co/rQRxJAmLWi
  • RT @zerohedge: Is The Market Up This Week? Just Ask The Fed's Balance Sheet https://t.co/6p01J9yAZ8
  • $USD: "The US Dollar is making a last-ditch effort to cling onto a key technical support level after dropping 3% from its 2019 high as risk appetite roars and the Fed inflates its balance sheet." - via @DailyFX Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/14/us-dollar-outlook-fx-volatility-rising-from-extreme-lows-usd-levels-to-watch.html https://t.co/87cITJPVQa
EUR/USD Risks Further Losses Ahead of ECB Meeting; CPI in Focus

EUR/USD Risks Further Losses Ahead of ECB Meeting; CPI in Focus

2014-07-25 16:25:00
David Song, Currency Strategist
Share:

Talking Points:

- EUR/USD Continues to Search for Support as Private-Lending Contracts for 26 Months

- GBP/USD Threatens Key Support Zone Amid Lackluster 2Q U.K. GDP Report

- USDOLLAR to Face Larger Correction on Close Above 10,470

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10474.11

10477.09

10455.63

0.14

85.19%

EUR/USD:

  • EUR/USD falls to a fresh monthly, yearly low of 1.3426 as the M3 Money Supply report showed private-sector lending contract for 26 consecutive months; may put increased pressure on the European Central Bank (ECB) to implement more non-standard measures.
  • Euro-Zone Consumer Price Index (CPI) remains the key event risk for the single currency next week as the headline reading for inflation is expected to hold steady at an annualized 0.5.%.
  • Will be looking for details at the next ECB meeting on August 7; more of the same from President Mario Draghi may help to limit the decline in the EUR/USD.

GBP/USD:

  • GBP/USD slipped to a fresh monthly low of 1.6959 even as 2Q U.K. GDP climbed 0.8%; market reaction suggests markets were looking for a stronger print.
  • Our attention now turns to the Bank of England’s (BoE) Inflation report due out on August 13 as market participants anticipate a more hawkish tone for monetary policy.
  • DailyFX Speculative Sentiment Index (SSI) continues to cast bullish outlook for GBP/USD as ratio pushes deeper into negative territory, currently standing at -1.61.

For more updates, sign up for David's e-mail distribution list.

EUR/USD Risks Further Losses Ahead of ECB Meeting; CPI in Focus

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

USD/JPY Gaining Momentum Off Range Lows

Weekly Price & Time: EUR/USD Cracking Important Support

USDOLLAR Daily

EUR/USD Risks Further Losses Ahead of ECB Meeting; CPI in Focus

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Dow Jones-FXCM U.S. Dollar Index fails to benefit from the 0.7% rise in U.S. Durable Goods Orders; still looking for a lower-high as descending channel remains in play.
  • A close below the 10,470 pivot could warn of a topping process, but still need a downside break in the Relative Strength Index (RSI) for conviction/confirmation.
  • Dollar to face major event risk (U.S. 2Q GDP, FOMC meeting & Non-Farm Payrolls) going into August; will also need to keep a close eye on month-end flows.
  • Interim Resistance: 10,508 (61.8% retracement) to 10,524 (38.2% retracement)
  • Interim Support: 10,354 (Oct. low) to 10,375 (50.0& retracement)

Release

GMT

Expected

Actual

Durable Goods Orders (JUN)

12:30

0.5%

0.7%

Durables ex Transportation (JUN)

12:30

0.5%

0.8%

Non-Defense Capital Goods Orders ex Aircrafts (JUN)

12:30

0.5%

1.4%

Non-Defense Capital Goods Shipments ex Aircrafts (JUN)

12:30

1.3%

-1.0%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.