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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
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
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
Mixed
More View more
Real Time News
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/YUhC9cCDpy
  • The US Dollar has spent much of October giving back September’s gains. Is there any hope for change? Get your #currencies update from @JStanleyFX here: https://t.co/3EHa6PV5yH https://t.co/PrP9J2klJk
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/wDVd2QvcjO
  • The longer-term EUR/USD outlook will hinge on Thursday’s ECB guidance; any hint of a further easing of Eurozone monetary policy would weaken it, but that is far from guaranteed. Get your #currencies update from @MartinSEssex here: https://t.co/RmHCfIwdqp https://t.co/hvETa6mtft
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/M8WTvZgx2K
  • The Australian Dollar was under selling pressure this past week, but it held its ground. Bearish patterns brew in AUD/USD and AUD/JPY. Will EUR/AUD, GBP/AUD try to break higher again? Get your #currencies update from @ddubrovskyFX here: https://t.co/04kzJSqgNG https://t.co/ulPk1UneMM
  • Stocks are set to endure a string of data releases with market-moving potential in the week ahead in the form of tech earnings, European GDP and more, even as the US Presidential election clamors for the spotlight. #equities update from @PeterHanksFX here https://t.co/R6tpEvfXJb https://t.co/7koHTyh2AK
  • As we round our way towards a new week, Cable is within the confines of a bullish structure with beginnings back in September. Get your #currencies update from @PaulRobinsonFX here: https://t.co/NIbRTVmjqq https://t.co/zYma4Iq4dP
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/UGhbX6kn3H https://t.co/NE2RB1NT55
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/MVwUUltt6R
ECB Acknowledges Downside Risk, Forecasts Above-Target Inflation

ECB Acknowledges Downside Risk, Forecasts Above-Target Inflation

2012-06-14 08:30:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: ECB acknowledges downside risk and higher than targeted inflation -> Merkel looks to G20 summit to call for debt-cutting -> Euro trading slightly higher

The European Central Bank said it sees increased downside risk in its economic outlook, according to the bank’s monthly bulletin. The ECB also forecasted that inflation will stay above its target 2% rate this year before falling back under 2% in 2013.

The bulletin’s editorial noted economic uncertainty in the short term, saying that high unemployment and balance sheet adjustment could dampen underlying growth momentum. The ECB decided to keep interest rates unchanged following its last meeting, but the downside risk might lead to a future rate cut.

The bank projected a 0.3% to 0.5% GDP growth for 2012, and says 2013 GDP could grow anywhere from 0% to 2%.

Earlier today, German Chancellor Angela Merkel said that cutting debt must be part of any action-plan created by the G20 summit meeting next week. Merkel told the German parliament that the summit will focus on the Euro area crisis and she firmly declared that Europe is Germany’s future and fate, but added that her country’s strength to deal with the current crisis is not limitless. Merkel also said that recovery will be slow and debt-fueled growth should be resisted.

Just yesterday, Moody’s cut Spain’s debt rating from A3 to Baa3 following the Spain aid plan. The rating did not significantly affect currency or bond markets, as the Euro took a small climb yesterday against the US Dollar and Spanish 10-year bond yields had already priced in the poorly received debt deal and reached new highs at 6.83%.

_ECB_Acknowldges_Downside_Risk_Forecasts_AboveTarget_Inflation_____body_eur.png, ECB Acknowledges Downside Risk, Forecasts Above-Target Inflation

EUR/USD did not react strongly to the ECB report and remains only slightly higher than today’s open.

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

DISCLOSURES