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
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
Oil - US Crude
Mixed
Wall Street
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
GBP/USD
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
USD/JPY
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
  • ECB policymakers were out in force last week, saying they were watching Eurozone government bond yields, but yields rose anyway, and that’s positive for $EURUSD and the Euro crosses. Get your market update from @MartinSEssex here: https://t.co/nJdh9dA1HM https://t.co/peLh7zTTiz
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/vs7ypHHwya
  • The GBP rally vs USD came to an abrupt end and reversal; this sets cable up for more selling in the week ahead. Get your market update from @PaulRobinsonFX here: https://t.co/Ee9PSppnd2 https://t.co/uaiCiEHBMs
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/OXUgYIl2ru
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/xncree8XaW
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/gGOU1RVQzq
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/wrI29FTN41
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/UzzC1bGzRJ
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/46bdHdOmOV
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/6FokpDbL65
US AM Digest: EUR Plummets on ECB Dovish Rate Guidance

US AM Digest: EUR Plummets on ECB Dovish Rate Guidance

Justin McQueen, Analyst

US Market Snapshot via IG: DJIA 0.33%, Nasdaq 100 0.4%, S&P 500 0.3%

Major Headlines

  • ECB Plans QE Exit, but Signals Rate Hikes are Distant
  • UK Retail Sales Sees Another Sizeable Rebound
  • US Retail Sales Beat Analysts Estimates

EUR: ECB surprised markets by announcing decision to reduce the pace of QE purchases after September 2018 by EUR 15bln until the end of December 2018, by which net purchase will come to an end. However, the Euro plunged following its rate path guidance, whereby the council judged that current rates will remain at current levels at least until Summer of 2019. Consequently, money markets have repriced a 10bps rate hike for September 2019.

GBP: Another sizeable rebound in UK retail sales for May, which saw all metrics printed ahead of expectations, subsequently, this took GBP too session highs against its major counterparts. The headline monthly reading surged 1.3% (Exp. 0.5%), while there was also an increase in the core reading of 1.3% (Exp. 0.3%). The ONS stated that the bounce in retail sales was due to good weather, alongside the royal wedding celebrations resulting in a boost on food and household goods. However, the gains in the Pound had been hampered following the rise in the USD, which had been led by EUR selling post ECB. GBPUSD now toying with the 1.33 handle.

USD: The greenback outperforms, largely as a by-product of the sell-off in the Euro, as such, the USD is back above 94.00. Another factor supporting the USD has been the better than expected retail sales and jobless claims data.

DailyFX Economic Calendar: Thursday, June 14, 2018 – North American Releases

US AM Digest: EUR Plummets on ECB Dovish Rate Guidance

DailyWebinar Calendar: Thursday, June 14, 2018

US AM Digest: EUR Plummets on ECB Dovish Rate Guidance

IG Client Sentiment Index: EURUSD Chart of the Day

US AM Digest: EUR Plummets on ECB Dovish Rate Guidance

EURUSD: Data shows 53.8% of traders are net-long with the ratio of traders long to short at 1.16 to 1. The number of traders net-long is 5.7% lower than yesterday and 8.7% lower from last week, while the number of traders net-short is 16.6% lower than yesterday and 7.9% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

Five Things Traders are Reading

  1. ECB Announces QE Taper, However, EUR Falls on Rate Path Guidanceby Justin McQueen, Market Analyst
  2. EURUSD May Fall Sharply in the Months Ahead” by Nick Cawley, Market Analyst
  3. GBPUSD Rises as Royal Wedding Celebrations Lifts Retail Salesby Justin McQueen, Market Analyst
  4. Technical Outlook - EURGBP Battling Confluence of Resistanceby Nick Cawley, Market Analyst
  5. EURUSD May Fall as ECB Disappoints the Euro Bulls” by Martin Essex, MSTA , Analyst and Editor

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.comFollow Justin on Twitter @JMcQueenFX

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

DISCLOSURES