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
More View more
Real Time News
  • AUD/USD continues to trend lower ahead of tomorrow's FOMC meeting. Further $USD strength could bring the August low into play $AUDUSD https://t.co/X3zfpYN8Qe
  • Nasdaq Ekes Out Small Gain As Focus Turns to FOMC, Uber Flies On Bullish Guidance $NDX $UBER #trading #FED https://t.co/1uL1Ao3o3v
  • Fedex Q1 Results: Revenues: $22.0B vs. $21.8B est. EPS $4.37 vs. $4.92 est. $FDX down roughly 2.25% AH
  • In this week's Macro Setup @CVecchioFX, discusses with @RiskReversal and @GuyAdami, news regarding property developer Evergrande weighing down US financial markets, and September's Fed meeting impact on assets. Tune into the markets now!https://t.co/dBgjbpXLXL https://t.co/WXLoq1O1PL
  • Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. Get your $XAG market update from @CVecchioFX here:https://t.co/23ii112k1E https://t.co/xHZfC2sffQ
  • China to be carbon-neutral by 2060; country will stop building coal-powered projects abroad - BBG
  • Curious to know if this is because a) bailout by Beijing is still widely viewed as the base case scenario if contagion materializes and/or b) recent backstops implemented globally to curb financial market fallout have effectively supplanted left tail risk https://t.co/cFSXtb1WfQ
  • video uploaded from today's webinar https://t.co/CCrY3mYRjL
  • WTI crude rebounded nicely from session lows, now trading at $70.50 $CL #Oil #OOTT https://t.co/ik3wfuGZZe
  • RT @ZabelinDimitri: Regarding the Fed dot plot⬇️ "If another two officials were to move up their expectations for a rate increase into 2022…
Forex News: Euro-Zone Economy Confirmed in a Technical Recession

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

Benjamin Spier, Technical Strategist

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