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. See our updated Privacy Policy here.

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
Oil - US Crude
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
More View more
Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.02% 🇪🇺EUR: -0.06% 🇬🇧GBP: -0.12% 🇨🇦CAD: -0.22% 🇦🇺AUD: -0.23% 🇯🇵JPY: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LZfExkLfjB
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 1.31% Germany 30: 0.97% FTSE 100: 0.82% US 500: 0.57% Wall Street: 0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gUKOWwsere
  • The July flash PMIs from Markit don't paint the most encouraging picture. The US and UK composite activity measures have slide, the Eurozone's has actually advanced and Australia's has tumbled. Despite this picture, SPX just off its record https://t.co/HrcdPASU9Q
  • The July PMIs haven't triggered late-in-the-week volatility which leaves the likes of the $SPX just off its record. DailyFX's @JohnKicklighter discusses weekend and what's ahead 👇 https://t.co/oB9i7XAXCz
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.37% Gold: -0.40% Silver: -1.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/es0k9q46z0
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.49%, while traders in Wall Street are at opposite extremes with 70.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Bo2bJUaa0h
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: -0.39% Oil - US Crude: -0.44% Silver: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mqveb8LmH7
  • 🇺🇸 Markit Manufacturing PMI Flash (JUL) Actual: 63.1 Expected: 62 Previous: 62.1 https://www.dailyfx.com/economic-calendar#2021-07-23
  • LNG looks fundamentally bullish. Low storage - supportive of sustained upward price action. Get your market update from @WVenketas here:https://t.co/h8NC2m4S2G https://t.co/TYADcug01i
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 1.20% Germany 30: 1.04% FTSE 100: 0.87% Wall Street: 0.52% US 500: 0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vSdsBpA79Y
Euro Back on the Decline Despite Softer PMI Results

Euro Back on the Decline Despite Softer PMI Results

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Eurozone PMI Composite hits 3-year low -> Markit Economics predicts -0.5% contraction in Q2 -> Euro reverses earlier gains

Eurozone manufacturing and services output has reached the lowest level since June 2009, according to the Markit Economic’s Purchasing Managers’ Index survey. The PMI composite index came in at 46.0 for May, slightly above the previously estimated 45.9. The Eurozone composite PMI has fallen for four straight months, since January’s index signaled increased output. A PMI survey under 50 points to contracting output.

The lower PMI’s indicate a slowing economy in Europe, even the usually strong Germany showed contracting output. The German PMI composite fell to a 34-month low 49.3 in May, down from April’s positive 50.5 result. French and Spanish PMI composite drops also accelerated during May.

PMI services for individual euro countries were also finalized this morning; Germany’s PMI for services was reported as expanding according to the 51.8 result for May, still lower than the previously estimated 52.2. France and Italy both had contracting services output, although Italy’s PMI result of 42.8 was better than the estimated 42.0 and April’s 42.3 reported index.

Markit Economics reported that weakness in demand led to further job losses among services and manufacturing industries. However, a slight rise in German jobs during May softened the unemployment numbers for the Eurozone on the whole. Markit’s Chief Economist Chris Williamson predicted a 0.5% contraction in the Eurozone’s Q2 GDP, according to the report.

G7 leaders are rumored to be meeting today to discuss ways to improve the European economy and help Greece avoid an exit from the single currency. German Prime Minister Angela Merkel has thus far said that she won’t support joint euro-denominated government bonds.

Euro_Back_on_the_Decline_Despite_Softer_PMI_Results___body_eurusd.png, Euro Back on the Decline Despite Softer PMI Results

EUR/USD reversed earlier day gains in the hours leading up to the PMI release, likely falling due to sentiments around the possible G7 meeting and recent negative comments from the Spanish budget minister.

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

DISCLOSURES