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
GBP/USD
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
More View more
Real Time News
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/Bnih4YvTdg
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZ5LG7
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/09/26/Crude-Oil-May-Rise-as-Covid-Case-Growth-Slows-WTI-Eyes-OPEC-Outlook-Evergrande.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/76e2aGf3p0
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4Cnoc1dk0 https://t.co/NhsMS1EY4b
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/25/SP-500-and-Dollar-Have-Different-Views-for-Last-Week-of-September.html https://t.co/4OBVmrvI7I
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
Euro Probes Above 1.35 as Output Index Hits 10-Month High

Euro Probes Above 1.35 as Output Index Hits 10-Month High

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Euro-zone composite output index revised higher to 48.6 -> Higher PMI’s confirm ECB predictions for a recovery -> Euro rallies above 1.35

The Euro-zone composite PMI index reached the highest level in 10-months in January, further supporting the ECB’s prediction that a recovery will take place in 2013. Markit’s composite output index was revised higher to 48.6 from a previous 48.2 estimate. The Purchasing Managers’ Index for services was revised higher to 48.6 from 48.3.

Both the PMI’s for manufacturing and services in the Euro-zone saw the highest result in January since March 2012. Both sectors reported a record slowdown in declines in new orders, according to Markit. German composite output hit a 19-month high of 54.4, while French output hit a 46-month low of 42.7. Job cuts continued in January according to Markit, the rate of job losses was the fastest in over three years.

The Euro-zone entered a technical recession in the second and third quarter of 2012, but the PMI’s support the ECB’s prediction of a recovery later in 2013. Markit Chief Economist Chris Williamson said, “The Euro-zone is showing clear signs of healing, with the downturn easing sharply in January, and the region moving closer to stabilization in the first quarter.

The Euro rose over 70 points against the US Dollar in Forex markets as the countries’ PMI’s were being released. EUR/USD may now see resistance by the recent 14-month high set at 1.3710, and the pair may see support by a broken resistance line around 1.3500.

EURUSDDaily: February 5, 2013

Record_High_Output_Sends_Euro_Above_1.35_body_eurusd_daily_chart.png, Euro Probes Above 1.35 as Output Index Hits 10-Month High

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