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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • 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:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here:
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:
Euro Declines as Prospects for the German Economy Weaken, EZ GDP Falls

Euro Declines as Prospects for the German Economy Weaken, EZ GDP Falls

Christopher Vecchio, CFA, Benjamin Spier,

THE TAKEAWAY: EUR Euro-zone GDP (2Q A), EUR German ZEW Survey (AUG) > Economy contracts by -0.4% y/y, ZEW Economic Sentiment falls to -25.5 > Euro-zone weakest growth since fourth quarter of 2009, ZEW Economic Sentiment weakest since December 2011 > EURUSD BEARISH

Expectations among financial experts for the German economy have reached a yearly low according to the ZEW survey. The survey for economic growth came in at -25.5 for August, lower than expectations for a -19.3 survey result and nearly 6 points lower than last month’s survey.

Experts’ assessments of the current situation in Germany also reached a two-year low according to the ZEW survey, but overall remain positive. The current situation survey came in at 18.2 in August, beating expectations for a 17.5 survey result. The results of the ZEW survey of economic sentiment in the Euro-zone remained negative for the fourth straight month, the survey result was -21.2, which was better than last month’s -22.3 survey result.

Germany’s survey result shows that experts expect the economy to further suffer as the Euro debt crisis continues. The ZEW report mentioned that export oriented sectors will be affected. Additionally, German economic growth softened in 2Q according to today’s GDP release.

In addition to the German ZEW survey, the Euro-zone second quarter GDP release was at 05:00 EDT / 09:00 GMT. Growth in the Euro-zone contracted by -0.2% on a quarterly-basis, after falling flat in the first quarter. On a yearly-basis, growth contracted by -0.4%, weaker than the flat reading in the first quarter as well. Both the q/q and the y/y prints met expectations.

Among the swath of data this morning, it is increasingly evident that any short-term hopes inspired by a potential European Central Bank bond buying program will not solve the economic growth issues the region is currently facing. To wit: the European Central Bank injected over €1 trillion into the European financial system from December 2011 through February 2012 vis-à-vis longer-term refinancing operations (LTRO), and yet growth has done anything but rebound in the ensuing quarters. Regardless of further action, without significant economic structural reforms, including but not limited to more liberal labor market policies, the Euro-zone’s contraction will steepen through the rest of the year amid enhanced austerity measures in Italy and Spain.

EURUSD 1-minute Chart: August 14, 2012

Euro_Declines_as_Prospects_for_the_German_Economy_Weaken_EZ_GDP_Falls_body_Picture_3.png, Euro Declines as Prospects for the German Economy Weaken, EZ GDP Falls

Charts Created using Marketscope – Prepared by Christopher Vecchio

The Euro reversed some of today’s earlier gains against the US Dollar following the survey results and the growth reading. Earlier today, EURUSD continued a three-week uptrend, climbing above 1.2350. There could be possible resistance at 1.2440/45. However, prices remained pinned lower, falling from 1.2369 ahead of the release to as low as 1.2350 soon after. The pair was trading at 1.2359 at the time this report was written.

--- Written by Christopher Vecchio, Currency Analyst and Benjamin Spier, DailyFX Research

To contact Christopher Vecchio, e-mail

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

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