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
Oil - US Crude
Mixed
Wall Street
Bearish
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
GBP/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
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
More View more
Real Time News
  • Are recent gains in the Indian Rupee and Nifty 50 warranted? Risks are brewing in the background, leaving USD/INR in a consolidative setting as the Nifty pressures resistance. Get your market update from @ddubrovskyFX here: https://t.co/XeIlexZOck https://t.co/rLYsiRLvWJ
  • What's fueling the current rally? Read more - https://t.co/OB1lCFAZLq
  • $EURUSD Daily Pivot Points: S3: 1.1022 S2: 1.1075 S1: 1.1104 R1: 1.1157 R2: 1.1182 R3: 1.1236 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Among the risk-leaning assets I usually follow, the Yen crosses are proving to be one of the most impressive categories for pace. The $EURJPY stepped on the gas today https://t.co/BYW7vQ7O2G
  • We may see more near-term US #Dollar weakness after my majors-based #USD index (averages it vs #EUR, #JPY, #GBP, #AUD) broke and confirmed the descent through key resistance (1.3213 - 1.3260) as the Greenback faces what may be its cheapest average price since early March https://t.co/pW0cfnc7uS
  • USD/JPY has been a mystery as it has moved basically nowhere of recent despite other USD pairs making sizable moves. Get your $USDJPY technical analysis from @PaulRobinsonFX here: https://t.co/zMLMseWHCi https://t.co/j8azqjhtTL
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.47% 🇳🇿NZD: 1.25% 🇬🇧GBP: 0.48% 🇪🇺EUR: 0.30% 🇨🇭CHF: -0.17% 🇯🇵JPY: -1.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BxRolsnex3
  • Talk about a disconnect between Main Street and Wall Street. Seems like markets are pricing in an expectation of a V-shaped recovery. Wonder when reality will hit 🤔 https://t.co/Y8woCzT8kN
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.29% Gold: -0.73% Silver: -1.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rsa9fXyvQe
  • $USDJPY Daily Pivot Points: S3: 106.83 S2: 107.22 S1: 107.44 R1: 107.82 R2: 107.99 R3: 108.37 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
Increased Exports Fuel German Economic Expansion in Q1

Increased Exports Fuel German Economic Expansion in Q1

2012-05-24 06:49:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: German Q1 GDP expanded by 0.5%, as previously estimated -> Increased exports fueled expansion -> EURUSD trading at new lows

Despite being surrounded by a Eurozone entrenched in a debt crisis, the German economy expanded in the first quarter of 2012 because of an increase of exports. The German economy was confirmed to have expanded 0.5% during Q1, a 1.7% expansion year over year. Exports rose 1.7% during the quarter while imports stayed at the same level, according to the German Federal Statistics Office.

Private consumption and government consumption rose by 0.4% and 0.2% respectively, while construction fell by 1.3% during the quarter. Today’s release confirms the initial 0.5% GDP estimate made in the middle of May, and it is a return to growth following the previous quarter’s 0.2% economic contraction.

Germany continues to experience moderate growth as the rest of the region battles economic contraction during the current debt crisis. On May 11, the European Commission projected that Germany’s economy will grow 0.7% in 2012 and 1.7% in 2013. The Commission said other European economies will contract during this period. Export focus has shifted from Europe to Asia, as demand for imports among Germany’s neighbors has waned.

As concerns over a Greek exit from the Euro grow, the Bundesbank predicted yesterday that Germany can handle such a possibility.

Increased_Exports_Fuel_German_Economic_Expansion_in_Q1_body_eurusd.png, Increased Exports Fuel German Economic Expansion in Q1

EURUSD made a small move down and then back up following the GDP data. The pair closed below the 1.2630 4-month low and key support during yesterday’s trading, and now sits underneath support turned resistance at 1.2580.

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

DISCLOSURES

News & Analysis at your fingertips.