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
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:https://t.co/vytr4OR1Jy https://t.co/qWGrrAmsYN
  • New Zealand new home lending increases 6.3% MoM to a record NZ$7.78B - BBG $NZDUSD
  • If you missed today's session on IGCS where I discussed #DowJones, #SP500, #CrudeOil, $GBPUSD and #Gold prices, check out the recording on YouTube here - https://t.co/smORERZuGX
  • Wall Street Futures Update: Dow Jones (+0.437%) S&P 500 (+0.468%) Nasdaq 100 (+0.706%) [delayed] -BBG
  • #Copper extending gains to highest since 2014 in London -BBG
  • Hang Seng Index (HSI) has likely broken a key resistance level of 26,840, propelled by financial stocks: - HSBC (+5.28%) - Standard Chartered (+3.59%) - Ping An Insurance (+2.45%) https://t.co/XBv5In1NJ5
  • Japanese PM Suga says Japan doing everything it can to protect jobs - BBG
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/wMZn4SDCp8
  • Precious Metals Technical Analysis: #Gold and #Silver Rebound at Hand? - https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2020/11/25/Precious-Metals-Technical-Analysis-Gold-and-Silver-Rebound-at-Hand--.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GLD $SLVR https://t.co/wHwsO23TLu
  • Currency traders may eye US PCE inflation data today for clues about continuous rising price levels and how it may impact the Fed’s monetary decisions. Find out more on the DailyFX economic calendar. https://www.dailyfx.com/economic-calendar#today https://t.co/jlmSkHmhE0
EUR Stable Ahead of Possible 'Tweak' of ECB Forward Guidance

EUR Stable Ahead of Possible 'Tweak' of ECB Forward Guidance

2018-03-06 11:15:00
Martin Essex, MSTA, Analyst
Share:

EURUSD talking points:

- The European Central Bank may remove its ‘easing bias’ when its Governing Council meets on Thursday.

- That would support the Euro, which has so far ignored the inconclusive results of the weekend’s General Elections in Italy.

Learn how to trade like an expert by reading our guide to the Traits of Successful Traders

New to forex and want to find out more about trading EUR? Take a look at our Forex Trading Guides

ECB ‘tweak’ on the radar

The European Central Bank’s rate-setting Governing Council is almost certain to leave all its monetary policy settings unchanged when it meets this Thursday but there could be a change in its language that would help the Euro.

The ECB will publish a new set of staff economic projections and the possible change in its forward guidance is the removal of a line that says it stands ready to increase its asset-purchase program in terms of size and/or duration. Any removal of this so-called APP easing bias would be seen as making a tightening of policy more likely long-term and would therefore support the Euro-Zone currency.

EURUSD Price Chart, One Hour Timeframe (February 28, 2018 – March 6, 2018)

EUR/USD has been stable ahead of this week's ECB meeting

Chart by IG

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

Italian elections

As the chart above shows, the Euro has been stable this week after Sunday’s Italian General Elections, which were inconclusive and could herald the start of weeks of negotiations to form a new government.

One factor helping it has been the vote by Germany’s Social Democratic Party to go into coalition with Chancellor Angela Merkel’s conservative bloc, keeping her in office and providing some stability in the Euro-Zone’s largest economy.

However, the ECB is unlikely to signal the end of the bond-buying program because of what the central bank sees as market turbulence, a firm Euro and below-target inflation. This means no major policy shift is likely until the summer, with a discussion on altering its forward guidance unlikely until the ECB’s April or June meetings.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

Like to learn more? Listento our regular Trading Webinars

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

DISCLOSURES