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
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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Mixed
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.95%, while traders in USD/CAD are at opposite extremes with 68.84%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GYoqTAMAbM
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/ULBWeviENp
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.27% 🇯🇵JPY: 0.09% 🇨🇭CHF: 0.07% 🇪🇺EUR: -0.12% 🇦🇺AUD: -0.18% 🇳🇿NZD: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bgklOwtokB
  • RT @Tony_Nyman: Soc Gen - Given the market's new-found #GBP bullishness, positioning and risk that UK/EU trade talks are testing in the wee…
  • $EURUSD resistance, round 2. Higher-lows past few trading days, sellers not yet able to fill the gap. https://t.co/MBuI87th2U
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/EgDdnrj0Cc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.80%, while traders in USD/CAD are at opposite extremes with 68.68%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UyHHjymGRN
  • LIVE NOW! Analyst and Editor @MartinSEssex discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead here - https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.26% Gold: -0.55% Silver: -1.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/c57QPay09z
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/1v3QgrDdRe
Euro Reverses Gains After ECB Monthly Bulletin Reminds Markets of Risks

Euro Reverses Gains After ECB Monthly Bulletin Reminds Markets of Risks

2011-10-13 08:52:00
Christopher Vecchio, CFA, Sr. Currency Strategist
Share:

THE TAKEAWAY: [ECB Release Monthly Bulletin for October] > [Market Risks Elevated] > [Euro Bearish]

The European Central Bank released its monthly bulletin today, the central bank’s equivalent to the Federal Reserve’s minutes following the Open Market Committee meeting, which was released late during the trading day on Wednesday. Like the Federal Reserve’s summary of the central bank’s most recent policy meeting, the ECB minutes painted a dire picture of the economic and monetary situation unfolding in one of the world’s most advanced economic regions.

While the ECB chose to keep rates on hold at 1.50 percent, much to the chagrin of market participants – the day before the decision, there was greater than a 60 percent chance priced in that the overnight lending rate would be cut by at least 25-basis points – policymakers were keenly aware of the “increased risks” facing the 17-nation economic zone.

The ECB noted that it “will continue to ensure that euro-area banks are not constrained on the liquidity side,” a clear sign that it is willing to extend currency swaps with the Federal Reserve if necessary in the coming months. It is important to note that the Governing Council clarified that “[A]ll the non-standard measures taken during the period of acute financial market tensions” are “temporary in nature.”

EUR/USD 1-minute Chart: October 13, 2011

Euro_Reverses_Gains_After_ECB_Monthly_Bulletin_Reminds_Markets_of_Risks_body_Picture_4.png, Euro Reverses Gains After ECB Monthly Bulletin Reminds Markets of Risks

Charts created using Strategy Trader– Prepared by Christopher Vecchio

In response to the release, risk-correlated assets, and in particular the Euro, fell across the board against the Japanese Yen and the U.S. Dollar. The EUR/USD was down nearly 70-pips, at the time this report was written. Similarly, the Australian Dollar and the New Zealand Dollar were down similar amounts against the Greenback.

Later in the day, there is a key Italian bond auction on the docket which could exaggerate the pullback in risk-appetite. If bond market participants aren’t willing to bid for Italian bonds, the broad consensus is that the European Financial Stability Facility is not big enough to secure Italy.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com.

Follow me on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, send an e-mail with subject line "Distribution List" to cvecchio@dailyfx.com.

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

DISCLOSURES

News & Analysis at your fingertips.