News & Analysis at your fingertips.

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
Subscribe
Please try again
EUR/USD
Mixed
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
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Gold: 0.58% Silver: 0.51% Oil - US Crude: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bRXxRZST1Z
  • US Senate Majority Leader Chuck Schumer says there are enough votes needed to pass President Joe Biden's $1.9-trillion stimulus bill. $SPX $NDX $DJI $RUT
  • OPEC+ members reportedly said to cool down oil market with increased production. WTI crude oil prices down nearly -6% from last week's high, currently hovering around $60/bbl. $CL_F $USO #OOTT https://t.co/mvATw1o4Ws
  • OPEC+ set to cool oil market with increased production - BBG
  • Fed's Brainard: -A persistent tightening of financial conditions would be a concern -Will continue to watch market developments carefully $TNX $TLT $AGG $LQD $TIP
  • Fed's Daly -Encouraged by inflation compensation rising to 2% -Don't see runaway inflation as imminent risk -Inflations reacts less now to employment, output changes -Must not let memories of high inflation dictate policy -Will be accommodative for some time to reach goals $USD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.63%, while traders in Germany 30 are at opposite extremes with 71.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8c6QbKvV0R
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.24% FTSE 100: 0.22% Germany 30: 0.16% Wall Street: 0.10% US 500: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sOcGz4EkJX
  • Heads Up:🇺🇸 Fed Daly Speech due at 19:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-02
  • https://t.co/KHPiVOm6uX
Strong Retail Sales Fail to Reverse Earlier Euro Losses

Strong Retail Sales Fail to Reverse Earlier Euro Losses

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Eurozone retail sales rise 0.3% for March, beats expectations -> Earlier day soft PMIs prove to be the real market mover -> EUR/USD remains in two-day range

Eurozone retail sales rose by 0.3% in March, beating analysts’ expectations of stagnant data. Sales for February were revised to 0.2% lower from the previous month, and the March data was 0.2% lower from March, 2011. According to the report released by the statistical office of the European Union, retail sales also grew by 0.7% in the 27-nation bloc (including non-Euro nations).

Food, drinks, and tobacco sales remained stable, while non-food sector sales increased by 0.1% in the Eurozone. The largest increases for the month were observed in Bulgaria at 3.9%, while the biggest losses came from Portugal at -2.2%, according to the report. Among the bigger economies, Germany showed an increase of 0.8% in March, while France fell 0.9%.

The data provided a light relief from a two day stretch of weak economic data from the Eurozone. Soft Euro PMIs scared away Euro buyers yesterday and forced a bout of risk-off trading earlier in today’s session. Yesterday’s uncertain comments from ECB President Draghi also contributed to a shaky outlook on the European economy.

Strong_Retail_Sales_Fail_to_Reverse_Earlier_Euro_Losses_body_eurusd.png, Strong Retail Sales Fail to Reverse Earlier Euro Losses

The strong retail sales offered a small bounce from earlier session lows following today’s round of PMIs. However, EUR/USD still remained within the two-day consolidation range between 1.3118 and 1.3180. The soft PMI’s mixed with earlier worse than expected UK housing rates set off a broad risk-off trend that boosted the USD against most majors, but EUR/GBP remained relatively unmoved by today’s data.

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

DISCLOSURES