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
Bearish
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • What is #forex risk management? As a trader why is it important to know the basics of it? https://t.co/M9R46rmPUK #tradingstyle https://t.co/C34oD6U8in
  • EUR/GBP has plummeted to a 19-month low while GBP/CAD and GBP/USD are re-testing critical resistance channels. $GBPAUD has reached a three-year high but will upside momentum last? Get your market update from @ZabelinDimitri here:https://t.co/TqzxCRSnjN https://t.co/voYGKUwE8g
  • RT @ReformedBroker: “The digital yuan China is planning is in fact a complete inversion of the bitcoin model. All of the data created would…
  • The $CAD rose on a hopeful tone from the Bank of Canada, but the largest risk to the central bank’s outlook remains unresolved. NZD/CAD has rallied. Will AUD/CAD follow as CAD/JPY sinks? Get your market update from @ddubrovskyFX here: https://t.co/AairskIHA5 https://t.co/f53ZzloW4u
  • The latest UK General Election opinion polls continue to show the Conservative Party holding a strong lead over Labour and point to Boris Johnson winning a working majority in Parliament. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/qF04EOUWkI https://t.co/LNl4bXbnpp
  • Recent polls have put Conservatives ahead of Labour and given a boost to $GBP. Get your #Brexit update from @ZabelinDimitri here: https://t.co/l2n53C0cYY https://t.co/oTWfXkaDDt
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/xeromAGqqx
  • Macro data from around the world have long attested to the urgent need for a trade settlement between the US and China. Increasingly the corporate numbers are saying the same. Get your market update from @DavidCottleFX here:https://t.co/Qon7QUO80c https://t.co/rCOG78QQ2M
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your market update from @IlyaSpivak here: https://t.co/4lHhHsby56 $XAUUSD https://t.co/JmZxckVHdS
  • Cable (GBP/USD) remains just off its seven-month high print around 1.3165 as traders start to move to the side lines ahead of next Thursday’s General Election vote. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/CpCh13J9ZH #Brexit https://t.co/PIh6WUqbsK
Euro Steady As Economic Growth Hits Six-Year High

Euro Steady As Economic Growth Hits Six-Year High

2017-04-21 08:38:00
Oliver Morrison, Analyst
Share:

Talking Points

-Euro-Zone composite, services and manufacturing PMI data at 72-month high.

-Job creation also rose to the highest for almost a decade.

- Encouraging data unlikely to alter Euro sentiment as traders await French election.

- 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.

Would you like to know more about trading the financial markets?DailyFX’s trading guideshould be your first stop.

There was more good news for the Euro-Zone economy Friday morning with the Euro-Zone PMI hitting a fresh six-year high in April to signal a strong start to second quarter in the Euro area.

The Markit Euro-Zone PMI rose to 56.7 in April, according to the preliminary ‘flash’ estimate. The latest reading was the highest since April 2011 and it beat the estimate of 56.4, the same level as March.

The services PMI rose to 56.2 in April from 56.0 in March, again beating estimates of a drop to 55.9.

The manufacturing PMI rose to 56.8 from 56.2 in March, beating the forecast of 56.

Markit said Job creation also rose to the highest for almost a decade as firms boosted operating capacity in line with buoyant demand and widespread optimism about future prospects. Price pressures meanwhile remained among the strongest seen over the past six years.

Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at IHS Markit said: “The eurozone economy has enjoyed a strong start to the second quarter. The April flash PMI is running at a level consistent with 0.7% GDP growth, up from 0.6% in the first quarter. Such strong growth, if sustained, will inevitably lead to upward revisions to economists’ 2017 forecasts

However, the encouraging data, like yesterday’s, are likely to play second fiddle to politics, with the first round of the French presidential election taking place on Sunday, April 23.

EURUSD 15-Minute Chart (Intraday April 20)

Euro Steady As Economic Growth Hits Six-Year High

Chart by IG

--- Written by Oliver Morrison, Analyst

To contact Oliver, email him at oliver.morrison@ig.com

Follow Oliver on Twitter @OPWMorrison

If you’re looking for trading ideas, check out our Trading Guides; they’re free and updated for the second quarter of 2017

If you’re looking for ideas more short-term in nature, please check out our IG Client Sentiment Data

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

DISCLOSURES

News & Analysis at your fingertips.