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. See our updated Privacy Policy here.

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
Oil - US Crude
Mixed
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
  • Gold prices are finally showing life in what should be one of the best fundamental environments in recent history.Get your $XAUUSD market update from @CVecchioFX here:https://t.co/HnvUE9TvP8 https://t.co/GuLYbE19VH
  • ECB VP de Guindos: - ECB forecasts inflation to decline next year and remain low - There is still time to decide on the PEPP program's destiny $EUR
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.74% Gold: 1.27% Oil - US Crude: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/h3JUhrkoia
  • USD/CAD continues to reverse lower, now trading below the June swing high $USDCAD https://t.co/dl3shF0neT
  • Company earnings bolster FTSE 100 index. Downtrend on UK treasury yields continues. Get your market update from @WVenketas here:https://t.co/b7ALnOgbaO https://t.co/MVR4c4VVTZ
  • https://t.co/Ldf98qDw0P
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.15%, while traders in Wall Street are at opposite extremes with 75.10%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CeIupH0opI
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.61% Wall Street: 0.61% FTSE 100: -0.04% Germany 30: -0.04% France 40: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iblONqMY4m
  • EUR/USD continues to push higher on post-FOMC USD weakness, eyeing test of 1.19 $EURUSD https://t.co/yzkh0Cjlj3
  • It's Robinhood ($HOOD) IPO day, and the stock is down from its open. Here's what I had to say about it ahead of time in an interview with @KristenScholer @cheddar https://t.co/kzf5oAvfJC
Euro Wobbles As Investors Fret Bank Exposure To Turkey

Euro Wobbles As Investors Fret Bank Exposure To Turkey

David Cottle, Analyst

Talking Points - Euro, Eurozone Banks, Turkey, Lira

  • The Euro was pressured against a generally stronger US Dollar
  • Turkey’s woes may well have been responsible
  • There are mounting concerns about European bank exposure to the troubled country

See how a trade war might affect the world of currencies here

The Euro wilted quite sharply as Asian trade faded out on Friday, with worries about Turkey widely reported to be behind the move.

The Turkish Lira was hammered this week.USD/TRY has soared and the Lira has lost about 30% of its value against the greenback this year alone. Now it seems that possible contagion to European banks exposed to Turkey is an additional worry for investors.

Euro vs US Dollar Chart - 5min

The Financial Times has reported that the Eurozone’s financial watchdog - the Single Supervisory Mechanism - is concerned about the exposure of major lenders such as Unicredit, BBVA and BNP Paribas to Turkish business.

EUR/USD duly slipped below the 1.1500 handle, getting as low as 1.1432 before stabilizing back above 1.1450.

The move came against the backdrop of a generally stronger US Dollar and Japanese Yen as trade-war fears saw investors pile back into perceived haven assets. Now Turkey seems to be giving them a reason to double down on this trade.

With memories of the Eurozone’s own banking crisis still raw, it seems likely that Turkish headlines will weigh on the Euro for some considerable time to come.

Friday will bring some more risk events on this subject. President Erdogan is due to speak at 1100GMT, and again at 1330, with Finance Minister Berat Albyrak crossing the wires with a new economic programme at 1130.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter @DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES