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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
Euro Jumps as ECB Removes Bias Towards Easier Monetary Policy

Euro Jumps as ECB Removes Bias Towards Easier Monetary Policy

Martin Essex, MSTA, Analyst

EURUSD talking points:

- The ECB kept all its monetary policy settings unchanged Thursday, as widely expected.

- However, the Euro jumped as the central bank decided to remove its bias towards easier policy.

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

Check out the top trading opportunities for 2018 on the DailyFX Trading Guides page

EUR strengthens after ECB meeting

The European Central Bank kept all its monetary policy settings unchanged Thursday, as expected, but decided to remove its bias towards easier policy. Before the meeting, analysts were split down the middle over whether the ECB would remove it or keep it.

The key section in the forward guidance provided by the Euro-Zone central bank’s Governing Council was: “the GC stands ready to increase the APP in terms of size and/ or duration,where the APP is its asset-purchase program designed to inject money into the region’s economy.

Removing that strengthened EURUSD, which yesterday reached its highest level since February 16.

EURUSD Price Chart, Five-Minute Timeframe (March 8, 2017)

Euro Jumps as ECB Removes Bias Towards Easier Monetary Policy

Chart by IG

The ECB’s €30 billion per month bond-buying program is due to expire in September and in the coming months the bank is expected to discuss and then announce a further tweaking of its communication stance, offering forward guidance on when and how the markets can expect the program to be ended, probably late this year. This tweak could come as soon as next month.

Dropping the easing bias from its statement provides further support for the Euro, which has firmed against the US Dollar in recent days on fears of a trade war.

Euro-Zone interest rates

While a tapering of the bond-buying program to zero is likely by the end of this year, the ECB has said already that Euro-Zone interest rates will not be increased until well past the horizon of its asset purchases, and it could wait until the middle of next year to raise them.

Low Euro-Zone inflation, a firm Euro and the possibility of a trade war with the US all suggest that the ECB will withdraw its monetary stimulus only cautiously, but hawks on the General Council are already pointing to solid economic growth and falling unemployment as reasons to act sooner rather than later.

If the hawks win the argument, EURUSD could move up quickly to the psychologically-important 1.25 level, although General Council members are likely to try to talk down the Euro to boost inflation, which at 1.2% is at its lowest since December 2016 and well under the ECB’s target of below but close to 2%.

Help to trade the forex markets

Whether you are a new or an experienced trader, we have many resources available to help you: IG client sentiment data, analytical and educational webinarshosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at or on Twitter @MartinSEssex

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