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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Jun 26, 2020 when USD/CAD traded near 1.37. A contrarian view of crowd sentiment points to USD/CAD strength. https://www.dailyfx.com/sentiment https://t.co/SJ4cDT3iIe
  • Learn about the ASEAN-China relationship and how to trade ASEAN currencies like the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit using the Core-Perimeter model. Get your market update from @ZabelinDimitri and @ddubrovskyFX : https://t.co/rNJkPpVCdk https://t.co/6qJKFUBFRm
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.99%, while traders in US 500 are at opposite extremes with 72.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cZNGi5LUei
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.15% 🇨🇦CAD: -0.08% 🇪🇺EUR: -0.12% 🇨🇭CHF: -0.20% 🇳🇿NZD: -0.21% 🇦🇺AUD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hGwx59H99O
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.30% France 40: 0.21% FTSE 100: 0.15% US 500: -0.28% Wall Street: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/H0zNNKbJbt
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/619vy6dGeq
  • The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise? Find out from @ddubrovskyFX here:https://t.co/u1qhaIGGoC https://t.co/12AYQD2Y66
  • Australia PM Morrison: - Australia to reduce inbound international flights by half - discussed need for skill training at National Cabinet meeting
  • There is a shift in risk appetite concentration that doesn't carry global potential and Canadian jobs data is top event risk ahead. I talk about this and in more in my video: 'Shanghai Composite, Nasdaq 100 and Emerging Markets Top Risk Performers' https://www.dailyfx.com/forex/video/daily_news_report/2020/07/10/Shanghai-Composite-Nasdaq-100-and-Emerging-Markets-Top-Risk-Performers.html https://t.co/g2NyiqICwx
  • The ASX 200 and AUD/JPY are at risk of losses as cases of Covid-19 continue to climb in Victoria, Australia’s second-most populous state. Get your #ASX market update from @DanielGMoss here: https://t.co/O0LNvhy4eY https://t.co/C25biduN3z
Euro Surges after ECB's Rate Decision and Draghi's Press Conference

Euro Surges after ECB's Rate Decision and Draghi's Press Conference

2012-02-09 15:25:00
Trang Nguyen,
Share:

THE TAKEAWAY: European Central Bank Holds Key Rate at 1 percent > ECB has probably Entered “Wait-and-See Mode” > Euro Strengthens

At the European Central Bank meeting today, the Governing Council decided to leave key interest rate unchanged at a historical low of 1.00 percent for two consecutive months after two straight cut in November and December 2011. The ECB’s benchmark rate decision came in with no surprise as it matched with the median projections from a Bloomberg News survey. Of fifty-seven economists surveyed by the Bloomberg News, only two predicted an interest rate cut by at least a 0.25 percent while the rest anticipated no change. Additionally, interest rates on the marginal lending facility and the deposit facility were held at 1.75 percent and 0.25 percent, respectively. While the Greek debt crisis particularly intensified last few months, economic activity in the 17-nation region appeared “very weak” in the fourth quarter among which German GDP is likely to have shrunk by 0.25 percent. Besides, the inflation rate in Euro area remained steady in January 2012 at 2.7 percent, well above the regional inflation target, though.

In his news conference following the meeting, ECB President Mario Draghi reiterated that the “Euro-area economic outlook still faces downside risks,” but he also expressed his optimistic view that those downside risks no longer are “substantial”. In addition, the inflation outlook remains “broadly balanced” and recent surverys "confirm tentative signs of stabilization." He also revealed that Greek party leaders have reached agreement on austerity measures required to receive the bailout. Should Greece avoid default in March, the Euro-zone can shun the “incalculable” the repercussion of the debt crisis spreading. It’s worth noting that “European Central Bank did not discuss change in interest rate today”. That means the ECB has probably entered “wait-and-see mode” and policy makers have observed the Euro-zone economy stands to recover after a successful Greece debt deal.

EUR/USD 5-minute Chart: February 9, 2012

020912_European_central_bank_rate_decision_body_Picture_10.png, Euro Surges after ECB's Rate Decision and Draghi's Press Conference

Charts created using Strategy Trader– Prepared by Trang Nguyen

The Euro continued to gain its footings versus most of its major counterparts for a second straight day today as Euro optimism reemerges on the Greek debt deal. The single currency extended gains following the ECB rate decision and ECB President Draghi’s comments at the news conference. As can be seen from the 5-minute EUR/USD chart above, the currency pair immediately jumped about 90-pips from 1.3230 to 1.3320 within an hour. At the time this report was written, the EUR/USD strengthened 0.34 percent versus the greenback, trading at $1.3293.

--- Written by Trang Nguyen, DailyFX Research Team for DailyFX.com

To contact Trang, email tnguyen@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.