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
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.44% 🇳🇿NZD: 0.38% 🇨🇦CAD: 0.30% 🇨🇭CHF: 0.05% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LY6p1GMAIY
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (FEB) due at 04:30 GMT (15min) Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-20
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.20% US 500: 0.14% FTSE 100: -0.02% Germany 30: -0.04% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/JfhA2eyx8v
  • 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
EUR/USD Shrugs Off Weak Euro-Zone Economic Data

EUR/USD Shrugs Off Weak Euro-Zone Economic Data

Martin Essex, MSTA, Analyst

Talking Points

- EURUSD was little changed in Europe Tuesday despite news that the Euro-Zone economy grew by 0.4% month/month in the fourth quarter of 2016 rather than the 0.5% originally estimated.

- Euro-Zone industrial output recorded its biggest fall in more than four years in December.

- Germany’s ZEW economic sentiment indicator fell by more than expected in February.

- 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.

EURUSD held its ground in Europe Tuesday despite a batch of disappointing Euro-Zone statistics. Fourth quarter economic growth was revised down to 0.4% month/month from the 0.5% initial estimate, while the year/year figure was revised down to 1.7% from 1.8%.

This was due at least in part to a drop in Euro-Zone industrial output in December of 1.6% month/month – its sharpest fall since September 2012 – rather than the 1.5% predicted by forecasters. The number was also worse than November’s 1.5%.

Moreover, the more forward-looking ZEW index of economic sentiment in Germany, Europe’s largest economy, fell to 10.4 in February from 16.6 in January, rather than the 15.0 predicted.

Against this background, EURUSD might have been expected to weaken, given that it makes a tapering soon of the economic stimulus currently provided by the European Central Bank less likely. However, the pair actually held up well, trading at 1.0619 late morning from 1.0617 just before the figures were released.

Chart: EURUSD 5-Minute Timeframe (February 14, 2017)

EUR/USD Shrugs Off Weak Euro-Zone Economic Data

Inevitably, the UK’s Brexit decision to leave the European Union, US President Donald Trump’s trade policies and the upcoming elections in the Netherlands, France and Germany were all cited as possible reasons for the fall in sentiment.

ZEW President Achim Wambach said the drop in expectations was probably the result of recent weaker-than-expected figures from industrial production, retail sales and exports.Political uncertainty regarding Brexit, the future US economic policy as well as the considerable number of upcoming elections in Europe further depresses expectations,” he said.Nevertheless, the economic environment in Germany has not significantly worsened, Wambach added.

Nonetheless, the latest data suggest that the outlook for Euro-Zone growth in 2017 is hardly positive, with rising energy prices an additional negative factor despite robust domestic demand in Germany. Figures released earlier for German fourth-quarter GDP revealed growth of 0.4% quarter/quarter, double the figure for the previous three months although just below the 0.5% predicted. The year/year figure, 1.2%, was lower than both the 1.7% consensus forecast and the 1.5% number for the previous quarter.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@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