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
Mixed
GBP/USD
Bullish
USD/JPY
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
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • #DidYouKnow the global trade volumes dropped by close to 10% amid the Great Recession. Want to know your #tradewars history? Get it here: https://t.co/f4loFVimeY https://t.co/dsm02kQo7T
  • 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 87.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JPJaD7lqOJ
  • US Dollar ASEAN Ahead: IDR, MYR, Trade Talks, Bank of Indonesia #ASEAN #USD #tradewars - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/18/US-Dollar-ASEAN-Ahead-IDR-MYR-Trade-Talks-Bank-of-Indonesia.html?CHID=9&QPID=917702 https://t.co/KdtdFBrePr
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.07% 🇨🇦CAD: 0.03% 🇯🇵JPY: -0.04% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/uZlNJOzt15
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.04% Wall Street: -0.06% US 500: -0.06% France 40: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MxO1wOfF99
  • Over the past 30 days, #ARS, #COP and the #MXN have been the best performing Latin American currencies vs. USD with 6.91%, 1.04% and 0.99% total returns.
  • #KRW, #PHP and the #JPY are expected to be the most active Asian currencies vs #USD with 1-week implied volatilities at 6.75, 4.92 and 4.60 respectively
  • The #JapaneseYen has posted some rare gains against the #USDollar on its daily chart, but important channel support still holds on an intraday basis. Keep a close eye on it now. https://www.dailyfx.com/forex/technical/home/analysis/usd-jpy/2019/11/18/Japanese-Yen-Gains-But-USDJPY-Up-Channel-Remains-Key.html?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr #USDJPY, #AUDJPY, #JPY
  • RT @FactSet: The forward 12-month P/E ratio for $SPX is 17.5, which is above the 5-year average (16.6) and the 10-year average (14.9). http…
  • Overnight index swaps are pricing in an 34.2% probability of a RBNZ rate cut during its next meeting on 02/12/2020 #NZD
EUR/USD Little Changed as Eurozone Economic Sentiment Improves

EUR/USD Little Changed as Eurozone Economic Sentiment Improves

2016-04-28 09:48:00
Oded Shimoni, Junior Currency Analyst
Share:

Talking Points:

- The Euro was little changed versus other major currencies

- Eurozone economic sentiment prints 103.9 vs 103.4 expected

- Marked improvement in services confidence printing 11.5 vs 9.6 prior

Learn about the proper tenets of risk management with FXCM’s “Traits of Successful Traders” series.

The Euro was little changed versus other major currencies (at the time this report was written) after today's Eurozone economic confidence figures came above expectations, marking the first uptick after three consecutive months of decline. The Economic Sentiment Indicator rose to 103.6, above the expected 103.4 figure, and the prior reading of 103.0. The index is compiled from five different indicator surveys including: industrial, services, consumer, retail, and construction.

The report said that the increase in euro-area sentiment resulted from improvements in confidence among consumers, and in all business sectors except retail trade, where confidence decreased slightly.

Sentiment in the services sector increased to 11.5 in April from the prior 9.6, which was above the expected 10.0 print. Measures for industrial confidence rose to -3.7 from the prior -4.2, beating the expected -4.0 figure, on the basis of managers’ more optimistic production expectations.

In the context of the ECB stimulus efforts, it may be interesting to point out that the report said selling price expectations increased in industry, retail trade and construction, while they remained broadly stable in services. Consumer price expectations picked up as well, while consumer confidence showed a slight pickup resulting from more positive assessments of the future general economic situation, with the report pointing out that only consumer’s savings expectations deteriorated.

As was mentioned today by DailyFX Currency Strategist Ilya Spivak, ECB President Mario Draghi argued after last week’s rate decision that the bank will need more time to assess the impact of stimulus expansion unveiled in March before committing to further actions, meaning the ECB is likely to remain in wait-and-see mode for a while. With this in mind, the confidence figures today may have had little impact on markets perception on possibility for further ECB measures, and the Euro was unfazed versus other majors.

The DailyFX Speculative Sentiment Index (SSI) is showing a reading of about -2.0 at the time of writing, meaning that for every trader long the EUR/USD, there are about 2 on the short side. The SSI is a contrarian indicator, implying further EUR/USD strength.

You can find more info about the DailyFX SSI indicator here.

EUR/USD 5-Minute Chart: April 28, 2016

EUR/USD Little Changed as Eurozone Economic Sentiment Improves

--- Written by Oded Shimoni, DailyFX Research

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

DISCLOSURES

News & Analysis at your fingertips.