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.

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
EUR/USD
Mixed
Oil - US Crude
Mixed
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
Wall Street
Mixed
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • US 10-Year Treasury yields eyeing a retest of key support at 1.53 after backtesting the neckline of the Head and Shoulders pattern carved out in March. Implied measured move to 1.42 is the next stop if 1.53 gives way #US10Y https://t.co/pS2rQycU6s https://t.co/bKWi72ja6q
  • USD/CAD recovery testing multi-week high / April opening-range - breakout potential. Resistance 1.2619, bearish invalidation at 1.2774 - support 1.2473. Get your $USDCAD market update from @MBForex here:https://t.co/MI4MCv9dY3 https://t.co/U9YqNUjJv9
  • Melbourne looking magnificent this morning https://t.co/OuvDnuKUv7
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇪🇺EUR: -0.00% 🇨🇭CHF: -0.09% 🇬🇧GBP: -0.32% 🇦🇺AUD: -0.43% 🇨🇦CAD: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zsSb5yC3Kt
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.38% Silver: 0.04% Oil - US Crude: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/1ucq5uuf7U
  • US API Data: #Crude +0.436M VS Est.-2.975M #Cushing -1.286M #Gasoline -1.617M VS Est.+0.464M #Distillate +0.655M VS Est.-0.956M
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.52%, while traders in France 40 are at opposite extremes with 75.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qS7s1S6YOW
  • Dogecoin made another run at highs around the .40 level in celebration of ‘DODGE Day’. Get your market update from @Tams707 here:https://t.co/3vvKuTZ8oh https://t.co/2iLckP6ZUH
  • Netflix regarding subscriber miss - "We don’t believe competitive intensity materially changed in the quarter or was a material factor in the variance as the over-forecast was across all of our regions" Doesn't really inspire confidence...
  • Netflix Q1 Earnings: Revs: $7.16B vs. est. $7.14 EPS: $3.75 vs est. $2.98 $NFLX
Forex News: Euro Continues Rally on Positive German Economic Expectations

Forex News: Euro Continues Rally on Positive German Economic Expectations

Benjamin Spier, Technical Strategist

THE TAKEAWAY: German IFO business climate survey rises to 104.2 -> Survey further confirms expectations for a recovery -> Euro continues to rally

The IFO German business climate survey rose to a seven month high in January, as the survey of expectations showed a positive result for the first time in eight months. The business climate survey was reported at 104.2, higher than an expected 103.0 result and better than December’s 102.4 survey. The expectations survey rose to an unexpected 100.5, while the business climate survey was reported at 108.0.

The improved German expectations survey was not a surprise to the market following yesterday’s improved PMI’s in the Euro-zone and Germany. The PMI release pointed to the beginning of a recovery in the Euro-zone in 2013, confirming similar comments made recently by ECB President Draghi. However, it is possible we may see another quarter of negative growth in Q4 2012, before the predicted recovery begins. Signs of Euro-zone economic growth are Euro positive.

Because of the expectations for a positive reading, the IFO survey only had a small effect on Euro trading. EURUSD rose 80 points to 1.3440 ahead of today’s ECB release of data for expected 3-year LTRO repayment next week, and the final 10 points of gain were taken following the IFO release. Resistance might now be seen by a 1-year high near 1.3500, and support could be provided by a previous resistance around 1.3400.

EURUSD Daily: January 25, 2013

Euro_Continues_Rally_on_Positive_German_Economic_Expectations_body_eurusd_daily_chart.png, Forex News: Euro Continues Rally on Positive German Economic Expectations

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES