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
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
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
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
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/3sonYtNn4F
  • Heads Up:🇮🇳 Markit Manufacturing PMI due at 05:00 GMT (15min) Expected: 38 Previous: 27.4 https://www.dailyfx.com/economic-calendar#2020-06-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.58%, while traders in US 500 are at opposite extremes with 75.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Zk9rafUjxv
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.88% 🇳🇿NZD: 0.53% 🇬🇧GBP: 0.33% 🇪🇺EUR: 0.28% 🇯🇵JPY: 0.14% 🇨🇭CHF: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vAnfLW0KM5
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.27% FTSE 100: 1.19% France 40: 1.15% Wall Street: 0.07% US 500: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vwJJvA9zOQ
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/cWQOJBaOpQ
  • (#ASEAN Fundamental Outlook) The US #Dollar is falling against ASEAN currencies such as the Singapore Dollar and Indonesian #Rupiah as stock markets rise. Watch out for US-China escalation and #Brexit talks $USDSGD $USDIDR $USDMYR $USDPHP - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/06/01/US-Dollar-Wilting-as-IDR-SGD-gain-US-China-Spat-Brexit-Talks-Eyed.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/esN2pUqyZW
  • RT @FactSet: Since March 31, $SPX forward 12M EPS has declined by 14.2% while $SPX price has increased by 17.2%. https://t.co/eQTjXfg2dc ht…
  • USD/CAD holds near the monthly low (1.3728) after snapping the range bound price action carried over from April, but Canada’s 1Q Gross Domestic Product (GDP) report may undermine the recent decline. Get your $USDCAD market update from @DavidJSong here: https://t.co/47Pjp03afU https://t.co/s4O86pwu2O
  • Market snapshot: #AUD surging with #NZD at the expense of #USD and #JPY. #HKD also down amid political uncertainty while US equity futures trade in the green with APAC stocks
Euro Slightly Lower Following Mostly Negative May Euro-zone Retail Sales

Euro Slightly Lower Following Mostly Negative May Euro-zone Retail Sales

2012-07-04 09:59:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Crushing austerity measures are sapping European consumers’ purchasing power, the latest Euro-zone Retail Sales report has shown. Despite surprising growth of 0.6 percent in May from April, sales remain lower overall with the yearly figure showing contraction of 1.7 percent. On top of the mixed readings for May, we note that the April figures were revised lower as well: the monthly figure was dropped lower to -1.4 percent from -1.0 percent; and the yearly figure was dropped lower to -3.4 percent from -2.5 percent.

The short-term bounce in sales may is likely to be short-lived, however, as the country’s that provided the support for the stronger Euro-zone figure are under immense pressure to further consolidate their deficits – typically, this involves higher taxes (and thus lower consumer spending) and lower government spending. French sales increased by 1.2 percent in May from April, while Irish and Spanish sales increased by 1.7 percent and 1.2 percent, respectively, over the same period. Similarly, Portuguese Retail Sales grew by 2.9 percent in May. In sum, any further efforts by these countries to fight the crisis will likely result in trimmer sales figures going forward.

EURUSD 1-minute Chart: July 4, 2012

Euro_Slightly_Lower_Following_Mostly_Negative_May_Euro-zone_Retail_Sales_body_Picture_1.png, Euro Slightly Lower Following Mostly Negative May Euro-zone Retail Sales

Charts Created using Marketscope – Prepared by Christopher Vecchio

In the wake of the release, the EURUSD perked up if only slightly during the thinner European session today (with US markets closed, volatility and volume have been thinner and lighter across the globe this week and especially on Wednesday), trading up just a few pips from 1.2584. However, as market participants digested the data, the EURUSD sold off slightly, down to as low as 1.2579, at the time this report was written.

Undoubtedly, the German 5-year note auction may have influenced price action following the release, which showed the strongest demand for German debt in all of 2012. The high bid/cover ratio of 2.7 suggests that investors continue to scramble for safety despite the ‘progress’ achieved at the Euro-zone Summit last week.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, send an e-mail with subject line "Distribution List" to cvecchio@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.