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
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • if looking to fade the recent run of $USD strength, $GBPUSD a compelling option. Prior high-flyer beset by a sizable pullback on the USD spike. https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/03/01/British-Pound-Technical-Analysis-GBPUSD-GBP-USD-Pullback-Grinds-Support.html https://t.co/trjy7gn1Ty
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 0.25% Oil - US Crude: -0.23% Gold: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nqH4Sv6kKM
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.95% 🇨🇦CAD: 0.69% 🇳🇿NZD: 0.58% 🇯🇵JPY: -0.09% 🇪🇺EUR: -0.11% 🇨🇭CHF: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6y7ipeRMTH
  • interested to see the responses here $Gold https://t.co/NBz8Jyy1qu
  • Gold prices hit a fresh seven-month low last week, eventually finding Fibonacci support. But with US rates in focus for the Fed on 3-16 - what will happen first?
  • https://t.co/mviHFA68q9
  • #Bitcoin, #Gold, #Dollar, $EURUSD, $AUDUSD and $USDCAD Technical Levels - (Webinar Archive) - https://t.co/YozHhSFHxc
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 2.39% Wall Street: 2.18% FTSE 100: 0.23% Germany 30: 0.17% France 40: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/O0R5hSwfSN
  • #Gold attempted to rebound from multi-month lows today, climbing as high as $1,760 before hitting resistance and turning back downwards. The precious metal is now trading back around $1,735. $XAU $GLD https://t.co/QgXRBljgWe
  • Equities have managed to start the new month on the front foot as bond yields are taking a breather from their rapid surge over the last few weeks. DAX 30 bulls aim towards the 14,000 mark. Get your #DAX market update from @HathornSabin here:https://t.co/E7CYIM0KQC https://t.co/bnFyQfXLP6
As EURUSD Rises, Keep an Eye on German Coalition Talks

As EURUSD Rises, Keep an Eye on German Coalition Talks

Martin Essex, MSTA, Analyst

EUR Talking Points:

- EURUSD climbed for a second successive day Thursday as ECB minutes suggested its Euro-Zone stimulus program may be tapered earlier than previously expected.

- However, traders in the pair should prepare for a possible setback if talks on forming a new German coalition government fail.

Check out our new Trading Forecast for the Euro – it’s free and has been updated for the first quarter of 2018

EURUSD strength may be temporary

EURUSD strengthened for the second successive day Thursday, boosted by a hawkish set of minutes of the last meeting of the European Central Bank’s Governing Council. The markets interpreted the minutes as meaning that the ECB could start reducing its monetary stimulus program earlier than previously expected.

In response, the Euro rose, adding to its gains Wednesday on a report – later dismissed – that China may reduce or halt altogether its buying of US Treasury notes and bonds. That weakened the US Dollar on a flight to haven currencies despite the support a rise in Treasury yields would normally provide.

EUR/USD Price Chart Five-Minute Timeframe (January 10-11, 2018)

As EURUSD Rises, Keep an Eye on German Coalition Talks

Chart by IG

EUR to suffer if talks fail

China’s denial of a policy change towards US Treasuries strengthened USD temporarily but EURUSD could weaken much further if talks between Germany’s two main political groupings fail. Chancellor Angela Merkel’s conservative CDU/CSU group is currently in talks with the center-left SPD about forming a new “grand coalition” government, and the negotiations are certain to be difficult.

She is seen as a consummate dealmaker so the chances are that she will succeed. However, failure would mean a loss of authority, the possibility of a minority government or even new elections. All would be seen as bad news for the Euro-Zone, and therefore negative for the EURUSD pair.

--- 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

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

DISCLOSURES