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
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
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
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The MACD is often used with its default setting when entering trades. However, this versatile indicator can be customized to assist traders in exiting trades too. Learn how to better incorporate the MACD into your trading strategy here: https://t.co/HnY7gzsI2q https://t.co/5F1DSvAXyy
  • What are some factors affecting $GBP as we head into 2020, quarter one? Download your Sterling fundamental forecast with @nickcawley1 here to find out: https://t.co/YfDSYSATK9 https://t.co/ANFLIuDY4J
  • Trading Global Markets new #podcast features @DailyFX Anlayst @PeterHanksFX , who discusses what assets would benefit in the next #recession. Tune into this new podcast episode hosted by @MartinSEssex here: https://t.co/Twr44cZ1GB https://t.co/llKzvZGDpQ
  • The #Euro remains weak against a range of currencies and any move higher is struggling to gain traction as the single currency continues to be sold-off. Get your #EUR technical analysis from @nickcawley1 here: https://t.co/9B2m0kmd4d https://t.co/ZENxpC59mP
  • The Indian Rupee 2020 outlook is bearish as India faces stagflation risk amid rising onion and crude oil prices. $USDINR may rise in the medium-term as the RBI defers hiking rates. Get your market update from @ddubrovskyFX here: https://t.co/lRrlZjAQDw https://t.co/mFv1EOYMjG
  • The $GBP may be on the cusp resuming a 12-year downtrend against the US Dollar as signs of topping emerge at pivotal chart resistance. Get oyur market update from @IlyaSpivak here:https://t.co/9rM3OjWmBA https://t.co/sUWcSFruHw
  • The $NZD may be on average at risk to further losses against its major counterparts such as the US Dollar and Japanese Yen. Where to for NZD/USD and NZD/JPY from here? Find out from @ddubrovskyFX here:https://t.co/OFjePKYdCb https://t.co/eo1c6QAVd8
  • $AUDJPY technical positioning hints prices may be on cusp of turning lower after a late-2019 bounce, recoupling with a dovish RBA policy outlook. Get your market update from @IlyaSpivak here: https://t.co/z84Y0V0ZtH https://t.co/wcIGO1emDw
  • The Japanese Yen has faded into 2020 as market risk appetite has held up and hit demand for haven assets. $USDJPY now challenges a key medium-term downtrend, but hasn’t topped it yet.Get your market update from @DavidCottleFX here:https://t.co/4X6vgCgkB7 https://t.co/FfCkGhtHsm
  • The $USD may fall against the Swedish Krona and Norwegian Krone if commentary from officials at the Davos forum uplift market mood and pressure haven-linked currencies. Get your market update from @ZabelinDimitri here:https://t.co/SZAG0yMu3d https://t.co/cBZj5tC0Ny
Euro-zone CPI Estimate Accelerates Unexpectedly; Euro Rallies Exposing 1.4280

Euro-zone CPI Estimate Accelerates Unexpectedly; Euro Rallies Exposing 1.4280

2011-03-31 09:50:00
Jonathan Granby,
Share:

Consumer prices in the 17-nation euro-zone defied expectations with a rapid acceleration to 2.6% year-on-year compared to the 2.4% reading seen in February and amid forecasts of an unchanged 2.4% reading. The release shows consumer prices rising at the fastest pace since October 2008 and remains well above the ECB’s 2% target, notching up the fourth consecutive month above the target level. Without any official Eurostat breakdown until April 15th we can only speculate that oil and energy imports continued to drive inflation higher in the euro-region.

The ECB is set to meet (April 7th) before the release of the Eurostat breakdown and will have to take these numbers on face value, that inflationary pressures continue to rise in the EMU. The ECB has all but confirmed that it will raise rates at its April 7th meeting but pressure is now mounting for a larger than 25bp hike to contain inflation, especially after this latest estimate. The ECB wants to take action in an attempt to fend off higher energy prices feeding through to wage demands and other second-round inflationary effects.

Euro-zone_CPI_Estimate_body_eur.png, Euro-zone CPI Estimate Accelerates Unexpectedly; Euro Rallies Exposing 1.4280

The euro continued its northern journey against the beleaguered greenback on the back of the higher than expected release as the market increases its bets that the ECB will raise rates in April. The early rally this morning, propelled higher by the release, opens highs from November 2010 at 1.4280, a critical level to take out if gains are to be extended further. March highs at 1.4250 have to be overcome first to pave the way for a test of these November highs. However, before jumping too quickly into long positions this market has been in an intense uptrend for some time now and an ECB hike is likely priced into the market; failure to test November highs in the near-term could see some bulls throw in the towel.

Written by Jonathan Granby, DailyFX Research Team

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

DISCLOSURES

News & Analysis at your fingertips.