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
Mixed
Oil - US Crude
Bullish
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/05P18DtLbu
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/YUu7Pwos43
  • 🇩🇪 Ifo Business Climate (NOV) Actual: 90.7 Expected: 90.1 Previous: 92.5 https://www.dailyfx.com/economic-calendar#2020-11-24
  • Brush up your knowledge on #tradewars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/1MAj9f6meB
  • 🇩🇪 Ifo Business Climate (NOV) Actual: 90.7 Expected: 90.1 Previous: 92.7 https://www.dailyfx.com/economic-calendar#2020-11-24
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.97%, while traders in NZD/USD are at opposite extremes with 74.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jGEHciMOxY
  • Heads Up:🇩🇪 Ifo Business Climate (NOV) due at 09:00 GMT (15min) Expected: 90.1 Previous: 92.7 https://www.dailyfx.com/economic-calendar#2020-11-24
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.90% Gold: -0.56% Silver: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/BVI5sIyKr7
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/rouvUq7T9R
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.90% 🇦🇺AUD: 0.89% 🇨🇦CAD: 0.37% 🇪🇺EUR: 0.25% 🇯🇵JPY: 0.21% 🇨🇭CHF: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9rLTlEAVAy
EU Parliament Votes to Explore Sanctions on Hungary

EU Parliament Votes to Explore Sanctions on Hungary

2018-09-12 22:07:00
Peter Hanks, Analyst
Share:

Talking Points:

  • Hungarian Prime Minister Viktor Orban denies all charges levied by EU’s parliament
  • The ultimate sanction is to remove Hungary’s voting rights but Poland is likely to veto that measure
  • The Euro did not react to the news, but the disjointed union could prove troublesome in the future

Check out our Economic Calendar for upcoming economic data and central bank events.

The European Union suffered another blow to stability on Wednesday as the European Parliament voted to pursue disciplinary action against Hungary. The unprecedented decision was backed by more than two-thirds of MEPs and marked the first censure motion against a member state under EU rules. Parliament issued the admonishment labeling Prime Minister Orban’s government a “systematic threat to the rule of law.” Mr. Orban denies the charges brought against his government.

The charges deal with two of the most contentious topics in the Union, immigration and domestic checks and balances. The action today was brought about largely because of the latter. Still, any further action would also need to be approved by national leaders. The most aggressive measure, to remove Hungary’s voting rights, would likely be vetoed by Poland which has shown moderate support for Mr. Orban’s government in the past.

Markets were accepting of the news, with little movement in both the Euro and the Hungarian Forint following the decision. While the vote’s passing is simply the first step for further action, the decision comes at a time when European stability is being threatened on multiple fronts. In isolation, the conflicts would be unlikely to threaten such a broad alliance but as the United Kingdom looks to complete the Brexit process and the United States has the continent locked in a tariff dispute, other nations like Italy and Hungary have developed somewhat dissenting views on the European Union.

With that in mind, developments in single countries should be watched closely to gauge the cohesion of the European Union and the strength of the Eurozone and its common currency over the long term.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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

DISCLOSURES