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.



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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • 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:
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: #DailyfxGuides
  • 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:
  • 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:
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:
  • The path for the Japanese Yen seems to favor the downside looking at a majors-based index. USD/JPY may rise within its Ascending Channel, but there is some scope for a healthy correction. Get your market update from @ddubrovskyFX here:
  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:
  • Senate Democrats reach deal on jobless aid -BBG
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.