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
More View more
Real Time News
  • Joe Biden is officially sworn in as President of the United States.
  • Joe Biden sworn in as 46th President of the US. $USD
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 17:00 GMT (15min)
  • $EURCAD fell from around 1.5440 to around 1.5300, hitting its lowest level since early July, following no change to BoC's policy and a press conference from BoC Gov. Macklem. $EUR $CAD
  • $EURUSD is bouncing between well-established technical levels - to the upside the midpoint of the pair's historical range and head-and-shoulders neckline. Downside, 38.2% Fib of past three months run and 50 DMA
  • BoC Governor Macklem: - Rise in Canadian Dollar does pose some risk - We don't target the Canadian Dollar - Most appreciation in Canadian Dollar is coming from broad-based depreciation of US Dollar #BoC $CAD
  • BoC Governor Macklem - Micro-cut is one option available to the BoC - If we see further appreciation of CAD that will become more of a headwind and that presents downward risk to our projections $CAD
  • BoC Governor Macklem: - We could increase pace or shift composition of QE purchases - Yield curve control is an option - BoC reviews the full range of options and will use these options if necessary #BoC $CAD
  • Hey traders! Get your Wednesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇. He covers the US Presidential inauguration and more!
  • BoC Governor Macklem: - Adjustment of QE purchases will be "a gradual process," not "a switch" - QE programs will be needed for some time #BoC $CAD
Euro Mixed as Weak September CPI Figures Highlight Risks Ahead of ECB

Euro Mixed as Weak September CPI Figures Highlight Risks Ahead of ECB

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- Euro-Zone inflation at lowest reading since February 2011.

- Weak inflation seen as indication of slowing economic growth.

- Data adds evidence that ECB might act again soon.


Price pressures in Europe are falling once more, which will catch policymakers’ eyes this week when the European Central Bank gathers for its October meeting. Euro-Zone core inflation fell to its lowest level since February 2011, which predated the ECB’s second of two LTRO injections to shore up regional banks’ ailing balance sheets. The data also suggests that weak credit growth, which ECB President Mario Draghi warned about in August, may be holding back the recovery.

Accordingly, at a time when Euro-Zone economic prospects appeared to have been picking up, the implication of the weak inflation data – that growth in Europe may be losing momentum – introduces another layer of uncertainty for the Euro amid rising political tensions in Italy. With attention drawn away from data and more focused on headlines again (reminiscent of the summer/fall 2011), the weaker inflation data has had only a minor impact on the Euro thus far.

- Consumer Price Index Estimate (SEP): +1.1% versus +1.2% expected, from +1.3% (y/y)

- CPI (Core) (SEP A): +1.0% versus +1.1% expected, from +1.1% (y/y)

EURJPY 1-minute Chart: September 30, 2013

Euro_Mixed_as_Weak_September_CPI_Figures_Highlight_Risks_Ahead_of_ECB_body_Picture_1.png, Euro Mixed as Weak September CPI Figures Highlight Risks Ahead of ECB

Charts Created using Marketscopeprepared by Christopher Vecchio

Following the release, the EURJPY slipped from ¥132.13 to as low as 131.99, but had soon rebounded to as high as 132.17. While the data hasn’t provoked consistent selling, the rebound from the gap open lower to start the week has been stunted. The EURJPY closed last Friday at 132.78, and opened this week at 131.80/85.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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