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.



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
More View more
Real Time News
  • Will be covering the Japanese #Yen to see how retail positioning could shape the outlook for $USDJPY, $AUDJPY and $EURJPY Starting in about 30 minutes! Signup for the session below:
  • Join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here:
  • #BlackRock: We are neutral U.S. equities. We see U.S. growth momentum peaking and expect other regions to be attractive ways to play the next leg of the restart as it broadens to other regions, notably Europe and Japan $SPX $NDX
  • #BlackRock: The new nominal theme leads to a steeper yield curve expectation than market pricing. We see yields rising gradually, keeping us broadly underweight government bonds, particularly for longer maturities #trading $TLT
  • BlackRock: We are overweight European equities, and neutral Japan #trading
  • Gold prices face off with rising Treasury yields as jobs data approaches. Meanwhile, iron ore prices caught a small bid on bullish port activity out of China. Get your market update from @FxWestwater here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • #Blackrock: We are moderately pro-risk and keep some cash to potentially further add to risk assets on any market turbulence #trading $SPX $RUT $DJIA
  • RT @BrendanFaganFx: Natural Gas Outlook: Price Continues to Soar as Severe Winter Shortage Looms $NG $NG_F Link:…
  • USD/CAD is set to snap a five-day sell-off with today’s rally breaking near-term downtrend resistance. Get your $USDCAD market update from @MBForex here:
Euro-zone Confirmed to Have Escaped a Six Quarter Recession

Euro-zone Confirmed to Have Escaped a Six Quarter Recession

Benjamin Spier, Technical Strategist
  • Euro-zone GDP confirmed to have expanded 0.3% in Q2
  • Markit predicts further economic growth in Q3
  • Euro trading steady following the release

Want to trade with proprietary strategies developed by FXCM? Find out how here.

Euro-zone Gross Domestic Product was confirmed to have grown 0.3% in the second quarter, according to Eurostat’s second estimate. The 0.3% rise in GDP ended six quarters of economic recession and set a new 2-year high in quarterly expansion. However, the annual decline in GDP was revised lower to -0.5% in Q2 from a previous estimate of an annual 0.7% economic contraction.

Household consumption expanded by 0.2% in the second quarter, beating expectations for 0.1% and up from the 0.2% decline in consumption in Q1. Also, retail sales only rose by 0.1% in July, according to a release today.

Euro traders have been looking for a rebound in the Euro-zone economy following the debt crisis, and an earlier release of the PMI’s for August suggested that economic expansion may continue into the third quarter. ECB President Draghi said in June that he expects the Euro-zone to return to growth by the end of the year, but the ECB predicted a 0.6% decline in GDP in 2013.

However, the Euro did not significantly react to the updated GDP release. EUR/USD may again see resistance at 1.3193, by the 38.2% retracement of the rally from the pair’s all-time low to the all-time high. The key 1.3000 key level may provide support.

New to Forex? Watch this video

EURUSD Daily: September 4, 2013

Euro-zone_Confirmed_to_Have_Escaped_a_Six_Quarter_Recession_body_eurusd_daily_chart.png, Euro-zone Confirmed to Have Escaped a Six Quarter Recession

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

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