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. See our updated Privacy Policy here.

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
Oil - US Crude
Bullish
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
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/hftCEho1lM
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here: https://t.co/MzaIl7tPmZ
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/rFlQtyQS81
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cuneuJNZlH
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/t34kotPE8R
Euro Edges Lower After Mixed Bag of Economic Data

Euro Edges Lower After Mixed Bag of Economic Data

Martin Essex, MSTA, Analyst

Talking Points

- The Euro eased in Europe Tuesday after figures showing a fall in German industrial output in September but higher than expected Euro-Zone retail sales.

- Looking ahead, EUR/USD is likely to be driven by the Dollar side of the pair.

What Does the Fourth Quarter Hold for the Euro, Oil, Equities and Other Key Markets? Find out here

The Euro slipped back in Europe Tuesday after news of better than expected Euro-Zone retail sales in September but a larger than predicted fall in German industrial production. The numbers contributed to a drop in EUR/USD but the future direction of the pair is likely to depend more on events and data in the US than those in the Euro-Zone.

German industrial output fell twice as fast as forecast month/month in September, dropping by 1.6% rather than 0.8% after August’s impressive 2.6% increase. The German economy ministry put growth in the third quarter as a whole at 0.8% and said there should be further increases in the coming months.

Later, Euro-Zone data showed retail sales in September rose by 0.7% rather than the 0.6% expected after a revised drop of 0.1% the month before. August sales had previously been reported to have fallen by a sharper 0.5%.

However, the more timely purchasing managers' index for the Euro-Zone retail sector in October recorded a drop to 51.1 from the previous 52.3.

In the markets, the Euro was modestly weaker after the data and speeches by two European Central Bank governing council members who concentrated on banking rather than monetary policy at a conference.

Chart: EUR/USD Five-Minute Timeframe (November 7, 2017)

Euro Edges Lower After Mixed Bag of Economic Data

Chart by IG

Looking ahead, the short-term future of the EUR/USD pair is likely to be driven by the US side of the equation rather than the Euro-Zone side. The ECB intends to tighten monetary policy early in the new year but the immediate focus is on the US Senate’s presentation of its version of tax reform this week, although the precise timing remains unclear.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

For help to trade profitably, check out the IG Client Sentiment data

And you can learn more by listening to our regular trading webinars; here’s a list of what’s coming up

Check out our Trading Guides: Several new ones are now available including Forex for Beginners, Building Confidence and Traits of Successful Traders

Like to know about the Traits of Successful Traders? Just click here

Or New to Forex? That guide is here

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

DISCLOSURES