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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/KRWQChtT4q
  • The Dollar took out the 50-day moving average to start the week and we are now slipping through the 100 DMA to start Tuesday trade. Watching $USDJPY, GBPUSD and earnings into Tuesday trade https://www.dailyfx.com/forex/video/daily_news_report/2021/04/20/Dollar-Breaks-USDJPY-and-GBPUSD-Technical-Barriers-Earnings-and-Dogecoin-on-Deck.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/w9Wc3qSMtN
  • Australian Dollar Price Outlook: AUD/USD, AUD/JPY, AUD/NZD, AUD/CHF - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2021/04/20/Australian-Dollar-Price-Outlook-AUDUSD-AUDJPY-AUDNZD-AUDCHF.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDNZD $AUDUSD $AUDJPY
  • $AUDUSD, Australian govt. bond yields rising after #RBA minutes They mentioned a 1st step to tapering 'is likely to occur end of June' when TFF is likely to end They also said they may consider extending it amid deterioration in financial system, but signs are currently missing https://t.co/ROgYfwKOub
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/oeIXNNpty3
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.71% Silver: 0.07% Gold: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fajhiQvAjU
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.32% 🇨🇦CAD: 0.18% 🇳🇿NZD: 0.17% 🇬🇧GBP: 0.05% 🇨🇭CHF: -0.06% 🇯🇵JPY: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LvVkeZyHsI
  • China's Xi: Will continue to cut negative list for inbound FDI -BBG
  • China's Xi: China will promote new type of international relations, will do more to help developing nations defeat Covid-19 -BBG
  • China's President Xi Jinping: Must uphold multilateral trading system with #WTO at core, pandemic makes clear must reject Cold War zero sum thinking -BBG
EUR/USD Under Pressure as Mixed Data, French Election Worries Weigh

EUR/USD Under Pressure as Mixed Data, French Election Worries Weigh

Nick Cawley, Strategist

Talking Points

- Strong German factory orders and weak Euro-Zone retail sales paint a mixed picture.

- French Presidential candidate Francois Fillon under pressure to quit over ‘fake jobs’ scandal.

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

EURUSD traded below 1.07500 in early European trade after mixed economic messages came out of Europe. German factory orders (December) beat on the upside, coming in at a robust 5.2% m/m vs. 0.7% expected and a downwardly revised -3.6% in November. On an annual basis orders grew by 8.1% vs. 4.2% (exp) and a downwardly revised prior month of 2%.

The Markit Euro-Zone retail PMI (January) however edged lower to 50.1 from a prior month’s 50.4, still just in expansion territory, but pointing to consumer belt-tightening in the 28-country zone. German sales fell to 50.3 from 52, while France provided the only real positive with retail sales jumping to 53.4 from December’s 50.1.

And the latest Euro-Zone Sentix Investor Confidence did little to buoy the euro, despite beating market expectations. The February figure came in at 17.4 vs. 16.8 but was still lower than January’s reading of 18.2.

Chart: EURUSD 5-Minute Timeframe (February 6, 2017)

EUR/USD Under Pressure as Mixed Data, French Election Worries Weigh

The single currency was also under pressure from the ongoing political upheaval in France, ahead of the French presidential elections in late-April. Centre-right candidate, and former Prime minister, Francois Fillon, is under a cloud after allegations that he paid his wife and two of his children around EUR900,000 of public money for work that they did not do. Fillon, widely tipped to win the race, is said to be making a speech at 16:00GMT, where he is expected to pull out of the race.

Centrist candidate Emanuel Macron is currently expected to win the Presidential race, ahead of far-right candidate Marine Le Pen who has vowed to take France out of the European Union and put ‘France First’ in areas such as housing and employment.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at Nicholas.cawley@ig.com

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.

DISCLOSURES