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
Bullish
Wall Street
Bearish
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
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: -0.17% Germany 30: -0.70% Wall Street: -0.85% France 40: -1.46% FTSE 100: -2.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rgg0WIgTxK
  • ECB's Stournaras says ECB should accelerate PEPP purchases
  • Another brutal day for gold as it breaks beneath prior February lows Read more - https://www.dailyfx.com/forex/market_alert/2021/02/25/Gold-Price-Plummets-as-Treasury-Yields-Soar-Where-to-Next-for-Gold.html?ref-author=phanks&QPID=917701&CHID=9 $GLD $XAU https://t.co/5qpaELXVLz
  • $Gold sell-off getting nasty just started to test 38.2 of the 18-20 major move ~1725 $GC $GLD https://t.co/1cb3hjRAR2 https://t.co/nXy6gomZU0
  • Gold printed a fresh eight-month low earlier in today’s session and the precious metal looks set to fall further if US Treasury yields resume their multi-month rally. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/I4RpWM0mEY https://t.co/OrtbLLncuK
  • $Silver not able to escape this rates move, testing tl support. not quite as bearish looking as $gold https://t.co/XnW51WNiBd
  • Other measures of risk are dropping as well: EEM emerging markets, HYG junk bonds, AUDJPY carry trade, copper for commodities (hey at least it eases that inflation fear a little)
  • There goes 3,800 on $SPX
  • oy that's a nasty candle on the $SPX two hour chart $SPY $ES https://t.co/z95ReMpglC
  • #Gold continues to head lower today, currently near the $1,730 level. The precious metal is trading at its lowest levels since June. $XAU $GLD https://t.co/V2jRiiG7kJ
EUR up as Eurozone Inflation hits 2% led by surge in oil prices

EUR up as Eurozone Inflation hits 2% led by surge in oil prices

Justin McQueen, Analyst

Euro Analysis and Talking Points

  • Eurozone Inflation hits 2%, however, core inflation remains subdued
  • Euro supported by month-end USD selling and EU immigration deal

Eurozone Inflation hits 2%, while ECB’s preferred measure remains subdued

Eurozone inflation hit the ECB’s target for the first time in more than a year, rising 2% Y/Y from 1.9% in June, matching estimates. Yet again the headline figure had been led by energy prices, which surged by 8% (Prev. 6.1%), while food, alcohol and tobacco jumped by 2.8% from 2.5% in May. Core inflation printed at 1%, meeting forecasts, however dipped from the prior month by 0.1ppt.

EUR up as Eurozone Inflation hits 2% led by surge in oil prices

Source: Eurostat

ECB Announces Plans to Exit QE on Growing Inflation Confidence

Earlier this month, the ECB announced plans to exit from its ultra-loose monetary policy with bond buying set to end in December with the central bank increasingly confident that inflation will settle at close to but below 2% over the medium term. However, the rise in inflation has largely been led by the surge in energy prices, while core inflation continues to remain subdued which in turn has led to the ECB keeping to its cautious stance with a rate hike not seen till September 2019 at the very least.

Euro Supported by Immigration Deal

The Euro is among the outperforming currencies today following reports that the EU struck an eleventh hour immigration deal on the highly charged issue of immigration into the bloc. Alongside this, month end selling in the USD has also helped push the Euro higher with the pair hovering around 1.1650.

EURUSD PRICE CHART 1: 1-MINUTE TIMEFRAME (Intra-day)

EUR up as Eurozone Inflation hits 2% led by surge in oil prices

Is the Euro recovery temporary?

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES