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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/k2YkjBeSdW
  • RT @FxWestwater: Australian Dollar, APAC Markets Focus on Bond Yields to Start March Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/03/01/Australian-Dollar-APAC-Markets-Focus-on-Bond-Yields-to-Start-March.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $AUDUSD https://t.co/py…
  • 🇦🇺 Investment Lending for Homes (JAN) Actual: 9.4% Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-03-01
  • 🇦🇺 Home Loans MoM (JAN) Actual: 10.9% Previous: 8.7% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Feb 01, 2021 when Wall Street traded near 30,246.40. A contrarian view of crowd sentiment points to Wall Street weakness. https://www.dailyfx.com/sentiment https://t.co/Qv5JIJxF2M
  • Aussie 10-year yield extends drop to 32 basis points after RBA buy notice - BBG $AUD
  • RBA to buy A$4 billion of longer-dated bonds, double usual size - BBG $AUD
  • Heads Up:🇦🇺 Investment Lending for Homes (JAN) due at 00:30 GMT (15min) Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Heads Up:🇦🇺 Home Loans MoM (JAN) due at 00:30 GMT (15min) Previous: 8.7% https://www.dailyfx.com/economic-calendar#2021-03-01
  • 🇰🇷 Balance of Trade (FEB) Actual: $2.71B Previous: $3.76B https://www.dailyfx.com/economic-calendar#2021-03-01
Euro Bounces from 2-Year Lows as German Retail Sales Rise for a Second Month

Euro Bounces from 2-Year Lows as German Retail Sales Rise for a Second Month

Benjamin Spier, Technical Strategist

THE TAKEAWAY: German retail sales are up an unexpected 0.6% in April -> Lower unemployment fuels sales growth -> EUR/USD bouncing back from 2-year lows

German retail sales grew for a second straight month, up 0.6% in April and better than the expected 0.2% rise. However, compared to the previous year, retail sales dropped 3.8% in April according to the Federal Statistics Office. March’s sales were revised higher to a 1.6% growth from the previous month.

Falling unemployment and a growing economy were responsible for better retail sales. Germany’s economy continues to grow despite the surrounding economic contraction and stays resilient in the face of a possible Greek exit from the euro. Thus far, German consumers are not worried about the possible effects of a Greek exit.

Euro_Bounces_from_2-Year_Lows_as_German_Retail_Sales_Rise_for_a_Second_Month______body_eurusd.png, Euro Bounces from 2-Year Lows as German Retail Sales Rise for a Second Month

EUR/USD briefly dropped following the data release, before continuing an early session bounce from new 2-year lows below 1.2400.

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

DISCLOSURES