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
Oil - US Crude
Wall Street
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
  • FOMC Statement: - Asset purchases of $80b in Treasuries and $40b in Agency MBS to continue at current pace - Purchases will continue until "substantial further progress" has been made toward employment and inflation goals #Fed #FOMC $USD
  • FOMC Statement: - Ongoing health crisis will continue to weigh on economic activity, employment, and inflation in near term - Still poses considerable risks to the economic outlook in the medium term #Fed #FOMC $USD
  • FOMC Statement: - Pace of recovery in economic activity and employment has moderated in recent months - Path of economy depends on course of virus and progress on vaccinations #Fed #FOMC $USD
  • FOMC unsurprisingly leaves rates unchanged but weakens the language around the pace of recovery as they see growth moderating in recent months and in the future
  • FOMC: - Leaves interest rates unchanged at 0.00-0.25% as expected - No changes to pace of asset purchases #Fed #FOMC $USD
  • 🇺🇸 Fed Interest Rate Decision Actual: 0.25% Expected: 0.25% Previous: 0.25%
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.14% France 40: -0.17% FTSE 100: -0.21% Wall Street: -1.31% US 500: -1.67% View the performance of all markets via
  • A few mins until Fed decision
  • Heads Up:🇺🇸 Fed Interest Rate Decision due at 19:00 GMT (15min) Expected: 0.25% Previous: 0.25%
  • #Bitcoin dips below $30,000 for the second time today as FOMC decision approaches. $BTC
Forex News: Euro Erases Gains Despite Higher Composite Output Index

Forex News: Euro Erases Gains Despite Higher Composite Output Index

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Euro-zone composite output beats expectations at 47.3 -> PMI’s signal that negative growth could continue in Q4 -> Euro erases earlier gains

While Euro-zone composite output continued to fall for the eleventh straight month in December, according to a flash PMI, the rate of decline has slowed to a nine month low. Markit’s composite output survey was reported at 47.3, beating expectations for 46.9 and higher than last month’s 46.5 survey. The PMI for manufacturing activity in the Euro-zone was seen at 46.3 according to the flash estimate, slightly worse than the expected 46.6 index. The services PMI was reported at 47.8, better than the expected 47.0 PMI.

Euro-zone business activity has fallen for 15 of the past 16 months according to Markit’s report. New business also continued to decline in December, but the rate of decline slowed for the third month in a row. Output rose in Germany for the first time in eight months, as an increase in service sector activity was slightly better than a decline in manufacturing production.

An ECB monthly bulletin said that the central bank expects the Euro-zone economy to continue to weaken into 2013, and in the second part of the year, the economy may see a gradual recovery. The Euro-zone economy hit a recession in Q3 when it saw negative growth for the second straight quarter. Markit Chief Economist Chris Williamson said, “The survey is still consistent with euro area GDP falling for the third successive quarter and, as the official data lag the PMI, the downturn is likely to have steepened compared with the 0.1% decline seen in the third quarter.

The Euro fell from an earlier session high above 1.3100 that followed optimistic overnight headlines, and is now trading around 1.3080 against the US Dollar. It is unclear if it was the release of French and German PMI’s that sent the pair lower, or if it was just an unwinding of the recent gains. The 3-month high of 1.3139 could continue to provide resistance; a 10-month falling trend line could provide support around 1.3065.

EURUSD Daily: December 14, 2012

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