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.

Free Trading Guides
EUR/USD
Bullish
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
GBP/USD
Bullish
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
USD/JPY
Mixed
Gold
Bullish
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
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • RT @onlyyoontv: #China doesn’t want Dec tariffs but calculation Trump might not 2 due to Xmas, poss harm to US econ. US suppliers here say…
  • Interesting addition to the RBA minutes overnight "further reduction in interest rates could have a different effect on confidence than in the past, when interest rates were at higher levels" - $AUD rates seemingly not that far from the lower bound (0.5%)
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr https://t.co/72dN9k3mdz
  • Retail carnage this AM after disappointing earnings pre-market $ES_F $SPX
  • Dax dancing around this trend channel https://t.co/FIL16lwltr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.72%, while traders in France 40 are at opposite extremes with 85.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8OpJesS3E7
  • RT @NickTimiraos: Trump elaborates on his White House meeting with Powell. One question is whether private pressure has any effect when the…
  • LIVE NOW: Join Analyst and Editor @MartinSEssex as he discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead. Register here: https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720
  • $GBPUSD option market pricing for General election (expiring Dec 13th) - Volatility at +48% with a break-even of 330pips https://t.co/jiLzZolZ0p
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/Uiohe30J5b
Eurozone Construction Output Falls in March, EUR/USD at Support

Eurozone Construction Output Falls in March, EUR/USD at Support

2014-05-19 09:21:00
David Maycotte,
Share:

Talking Points:

Eurozone Construction Output fell 0.6 percent in March as construction rose year-on-year 5.2 percent.

Both figures were revised higher in February with the month-on-month rate revised to 0.4 percent from 0.1 percent, and the headline year-on-year rate revised to 7.5 percent from 6.7 percent. The single piece of data is unlikely to support the Euro or exude a lasting market move. The Euro remains vulnerable to downside risk, particularly as speculation for ECB stimulus gathers pace amid worsening data.

Price stability is the primary objective for the ECB that the disappointing rate of output growth may encourage an expansion of stimulus efforts. Stubborn deflation has plagued policy officials that the ECB announced the possibility of intervention in June.

The EUR/USD rose following the data. A wedge bottom pattern marks support for EUR/USD.

Eurozone Construction Output Falls in March, EUR/USD at Support

EUR/USD 5-Minute Chart created using FXCMMarketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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

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

DISCLOSURES

News & Analysis at your fingertips.