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.

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
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
Oil - US Crude
Mixed
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
Wall Street
Mixed
Gold
Mixed
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
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/Rjfdv8jLQV
  • 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: https://t.co/7t4BzmLg8w https://t.co/a6qsFOcPUl
  • Build your USD/JPY trading strategy by honing your trading skills. Get your free insight here: https://t.co/hgVq7LwTSH https://t.co/xXZYbWqEwP
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/HUaCpOPird
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/Hx1251BmAZ
  • @ddubrovskyFX Congrats Daniel!
  • After a week of roaring economic updates that failed to gain meaningful market traction; I am look to US inflation/rates, US-China trade relations and earnings in the week ahead to charge $SPX and $DXY. My outlook for the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/10/SP-500-Outlook-Carries-Risk-Trends-Dollar-Event-Heavy-on-USDJPY-USDCNH.html https://t.co/F9XkNl8Ks4
  • The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce? Find out from @ddubrovskyFX here:https://t.co/SwufKMOwfQ https://t.co/rfn4KRGUgl
  • Retail traders appear to be reducing long exposure in the Euro after recent gains. This hints that EUR/USD and EUR/JPY may rise in the near term, but could this trend last down the road? Find out from @ddubrovskyFX here:https://t.co/Y1d4DXeKEE https://t.co/oUv4y0TPq3
  • China fines Alibaba Group 18.2b Yuan, or about USD2.8b, in a monopoly probe -BBG
EUR/USD Breaks Below 1.3600 Ahead Of The Eurozone Retail PMI Figures

EUR/USD Breaks Below 1.3600 Ahead Of The Eurozone Retail PMI Figures

Edward Hyon,

Talking Point:

  • Eurozone Retail PMI: 50.0 Actual Vs 52.8 Estimated; 53.2 Prior.
  • Germany Retail PMI: 56.2 Actual Vs 52.8 Estimated; 53.5 Prior.
  • EUR/USD Drops Below 1.3600 Level Ahead of the Release. .

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

The Eurozone Retail PMI, which tracks month-on-month changes in the value of retail sales, registered at 50.0 for the month of June. This was marginally higher than the prior reading of 49.9 in May. Germany remained the powerhouse in the Eurozone retail sector as its retail PMI came in at 56.2, accelerating from 52.5 in the prior month. Meanwhile, France and Italy acted to offset this healthiness as their retail PMI figures crossed the wires at 47.6 and 43.8 respectively. This is a reading below 50.0, which indicates a contraction.

Ahead of the data, EUR/USD lost ground breaking the psychologically important 1.3600 level to trade almost 20 pips lower. There has been a string of disappointing economic prints this week, from the region, amid the European Central Bank keeping its key policy rate at 0.15 percent as expected on Thursday. ECB Governor Mario Draghi announced no further stimulus at this point as the central bank assesses the impact of its recently revealed TLTRO program. Any further hints on future stimulus expansion would likely bode ill for the Euro says DailyFX Currency Strategist Ilya Spivak.

From a technical standpoint, near term support rests at 1.3500 and resistance at 1.3700 says DailyFX Currency Analyst David De Ferranti. Moreover, DailyFX Senior Currency Strategist Kristian Kerr has noted a move below 1.3590 will turn us negative on the exchange rate.

EUR/USD 5 Minute Chart

EUR/USD Breaks Below 1.3600 Ahead Of The Eurozone Retail PMI Figures

Chart Created Using FXCM Marketscope 2.0

New to FX? START HERE!

Edward Hyon, DailyFX Research Team

Keep up to date on event risk with DailyFX Calendar

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

DISCLOSURES