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
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
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
GBP/USD
Mixed
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
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
  • The @ecb will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the #Euro a lift. Get your currencies market update from @MartinSEssex here: https://t.co/I4PbmJNG1z https://t.co/hu6Ld1KdDB
  • $GBPUSD doesn’t have the cleanest set of technical indications, but #USD may give indications if it can break its trading range via the $DXY. Get your currencies market update from @PaulRobinsonFX here: https://t.co/PrC9wAaXvU https://t.co/vHYHflwqR3
  • The ongoing contraction in US production may keep #oilprices afloat in June as crude output falls to its lowest level since October 2018. Get your crude #oil market update from @DavidJSong https://t.co/jj1bMLX0DF https://t.co/O9NOqbfHkb
  • watching the #SpaceX launch🍿
  • Major investment bank models have touted USD selling, given the outperformance in US equities relative to its counterparts over the past month. How is this likely to impact the month-end rebalancing? Find out from @JMcQueenFX here:https://t.co/MtNrHmXZpD https://t.co/d00z4019XE
Forex News: Euro-Zone Economy Confirmed in a Technical Recession

Forex News: Euro-Zone Economy Confirmed in a Technical Recession

2012-12-06 11:08:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: Euro-zone GDP drops 0.1% in Q3 according to second estimate -> Economy confirmed in a technical recession -> Euro trading higher ahead of ECB meeting

The Euro-zone was confirmed to have fallen into a technical recession according to the second preliminary estimate of the third quarter gross domestic product. Eurostat reported that the economy contracted 0.1% over the quarter, and the economy was 0.6% lower than Q3 of 2011, unchanged from an earlier estimate.

Household consumption was unchanged in Q3, and exports rose by 0.9%. Out of the countries that have already reported their GDP, Estonia saw the largest expansion in Q3, as its GDP was up 1.7%; the Netherlands saw a 1.1% decline.

The European economy has been suffering because of the debt crisis, and Euro investors are wary of another economic contraction in Q4. Based on some recent Purchasing Managers’ Index results, the chance of economic expansion are not great.

The Euro did not significantly react in forex markets to the in-line GDP estimates. EURUSD is trading slightly higher in today’s session ahead of the ECB interest rate announcement, and resistance might be found by a 2.5-month high at 1.3139.

EURUSD Daily: December 6, 2012

Euro-Zone_Economy_Confirmed_in_a_Technical_Recession_body_eurusd_daily_chart.png, Forex News: Euro-Zone Economy Confirmed in a Technical Recession

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

DISCLOSURES

News & Analysis at your fingertips.