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
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:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Cable is pulling off after a strong run; near-term weakness may be the theme before trying to rally again. Get your weekly GBP technical forecast from @PaulRobinsonFX here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • USD/CAD has bounced off a key support area on Friday and could potentially charge higher in the coming week as risk-aversion over coronavirus fears has started to dominate market moves. Get your weekly CAD technical forecast from @DColmanFX here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The US Dollar slipped last week after the Federal Reserve calmed taper timeline talks. Friday’s non-farm payrolls figure may rekindle upside USD bets if it impressive. Get your weekly USD forecast 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:
A Less Upbeat Draghi Sends the Euro Lower

A Less Upbeat Draghi Sends the Euro Lower

Gregory Marks,

Key Draghi Comments:

-Euro Area inflation risks ‘broadly balanced’

-Euro Area may face a prolonged period of low inflation levels

-ECB expects that rates will remain low for an extended period

-ECB ready to consider all instruments available

-ECB does not see deflation

-ECB discussed deposit facility rate

-ECB effectively ready to move the deposit rate

-weaker growth remains a downside risk to inflation

-it is essential to strengthen the resilience of banks

-higher commodity prices would weigh on inflation

-ECB sees protracted, broad-based period of lower inflation levels

-unemployment appears to be stabilizing

Mr. Draghi’s press conference following the ECB rate cut 45 minutes prior spurred continued Euro weakness as the central bank president’s comments focused mostly on inflation expectations and ECB policy moving forward. As for future policy out of the ECB, Mr. Draghi stated that the central bank is prepared to use all available instruments and expects rates to remain low for an extended period of time.

The most surprising comments from Mr. Draghi came in regards to the deposit facility rate- currently at 0.00%. This is essentially the rate that banks are paid to park their surplus cash at the ECB. If the ECB is inferring they may actually cut the deposit facility rate into negative territory, which has been hinted at before, essentially banks would have to pay the ECB in order to leave funds with them. Theoretically, this would put pressure on banks to remove tens of billions of Euros from the ECB and lend them out. In actuality, this may contribute to capital outflows and higher bond yields as fears rise again among investors about the prospects of the Eurozone in the medium-long term.

EUR/USD (30-Minute Chart)

A_Less_Upbeat_Draghi_Sends_the_Euro_Lower_body_Picture_1.png, A Less Upbeat Draghi Sends the Euro Lower

Source: FXCM Marketscope

As Mr. Draghi’s speech comes to an end, the EUR/USD pair is down almost 180 pips from just before the rate cut announcement. With the benchmark interest rate cut and inflation worries abound, Mr. Draghi and his fellow ECB officials will certainly be more wary of talking up higher confidence index prints in the future.

Gregory Marks, DailyFX Research Team

Keep up to date on event risk with the DailyFX Calendar.

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