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
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
Wall Street
More View more
Real Time News
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.20% 🇨🇭CHF: 0.16% 🇪🇺EUR: -0.01% 🇦🇺AUD: -0.06% 🇨🇦CAD: -0.08% 🇬🇧GBP: -0.23% View the performance of all markets via
  • Turkey's central bank raises reserve requirement ratios - BBG $USDTRY
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.12% Silver: -0.06% Oil - US Crude: -1.57% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.73%, while traders in NZD/USD are at opposite extremes with 74.62%. See the summary chart below and full details and charts on DailyFX:
  • BoC Deputy Governor Wilkins: Real estate bounce back has been 'sharp, 'aggressive' Pent-up demand drove sharp housing rebound Doesn't see a lot of speculation in housing - BBG $CAD
  • BoC Governor Macklem: Negative rates in toolkit; not being discussed Could lower effective lower bound, not be negative Ample scope to scale up QE if needed - BBG $CAD
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: US 500: 0.00% Wall Street: -0.00% France 40: -0.20% Germany 30: -0.21% FTSE 100: -0.26% View the performance of all markets via
  • I’ve outsmarted the onions! Happy thanksgiving everyone 🦃
  • Contrary to standard belief, greed and profits are often inversely correlated in trading. Remaining disciplined is key to a successful trading strategy. Learn how to control greed when trading here:
  • BoC Governor Macklem: Risk around our projection "roughly balanced" Inflation projected to remain less than 2% into 2023 - BBG $CAD
EUR/USD Bounce Given Extra Impetus by Strong Euro-Zone, German Data

EUR/USD Bounce Given Extra Impetus by Strong Euro-Zone, German Data

2017-01-12 14:44:00
Nick Cawley, Strategist

Talking Points

- EURUSD touches one-month high on Euro strength and US Dollar weakness.

- European, German data boost the single currency after US President-Elect Donald Trump disappoints.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The European single currency broke out of its recent trading range to the upside, supported by the latest batch of strong economic releases. Euro-Zone industrial production rose 1.5% month-on-month, beating expectations of a 0.5% rise, while German GDP year-on-year growth was reported at 1.9%, compared to expectations of 1.8% and a prior reading of 1.7%. Combined, the two releases point to potential Euro-Zone GDP growth of 0.5% quarter-on-quarter in the fourth quarter, against 0.3% growth in Q2 and Q3, as the weak EUR continues to drive the manufacturing sector.

German growth also benefited from the weak single currency, with strong export-driven demand seen from China and other countries within the EU. The latest release prompted the Ifo Institute for Economic Research to re-affirm its 2017 German growth target of 1.5%, although risks remain to the upside.

The minutes of the latest European Central Bank meeting also confirmed that the recovery in the Euro-Zone was continuing at “a moderate but firming pace.” According to the release, the December ECB staff projections - 1.7% in both 2016 and 2017 and 1.6% in both 2018 and 2019 - were broadly in line with the forecasts of other institutions, with a slightly more optimistic view on real GDP growth in 2017.

The recent EURUSD rally, from yesterday’s low of just under 1.0500 to a current 1.0640, began when expectations for more details of President-Elect Donald Trump’s fiscal plans were dashed. Speaking at his first press conference since winning the US Presidency, Trump gave no clues to his tax cuts and spending plans. However, according to recent comments attributed to White House aide Kellyanne Conway, the President-Elect remains committed to cutting taxes across the board and will give more details on his infrastructure plans in his 100-day plan.

Chart: EURUSD 5-Minute Timeframe (January 12, 2017)

EUR/USD Bounce Given Extra Impetus by Strong Euro-Zone, German Data

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

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