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
More View more
Real Time News
  • Heads Up:🇳🇿 Balance of Trade (SEP) due at 21:45 GMT (15min) Previous: N$-2144M https://www.dailyfx.com/economic-calendar#2021-10-26
  • NZD/USD struggles to retain the advance from the start of the week following an unexpected improvement in US household sentiment. Get your %NZDUSD market update from @DavidJSong here:https://t.co/QR98lVXppm https://t.co/fap0XpjcJD
  • Seriously Twitter, how do you beat on revenue and miss so significantly on EPS. The flexibility in GAAP is so wide, you could drive a truck down the middle path...
  • 🇰🇷 Consumer Confidence (OCT) Actual: 106.8 Previous: 103.8 https://www.dailyfx.com/economic-calendar#2021-10-26
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.13% 🇬🇧GBP: 0.01% 🇨🇭CHF: 0.01% 🇨🇦CAD: -0.05% 🇪🇺EUR: -0.11% 🇯🇵JPY: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MJgqSk2P9o
  • Heads Up:🇰🇷 Consumer Confidence (OCT) due at 21:00 GMT (15min) Previous: 103.8 https://www.dailyfx.com/economic-calendar#2021-10-26
  • RT @therecount: In a 17-0 vote with 1 abstention, the FDA advisory committee approves the use of Pfizer's COVID vaccine for children aged 5…
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.19% Gold: -0.80% Silver: -1.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/At26drHOro
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.56%, while traders in Wall Street are at opposite extremes with 74.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hPTbTdSRFt
  • AMD Earnings Summary REV. $4.3B vs. EST. $4.12B EPS: $0.73 vs. EST. $0.67 $AMD
EURUSD Price Latest: Heading Lower on Weak German Growth Data

EURUSD Price Latest: Heading Lower on Weak German Growth Data

Nick Cawley, Strategist

Euro and German GDP Growth:

  • German economy grew 1.5% in 2018, down from 2.2% in 2017.
  • EURUSD remains under downside pressure ahead of EU inflation release.

Q1 2019 Trading Forecasts including USD and EUR.

EURUSD Touches a One-Week Low as German Economy Slows

The German economy expanded by 1.5% in 2018, sharply lower than the 2.2% increase recorded in 2017, according to preliminary data released by the Federal Statistics Office earlier today. The data suggests that German Q4 growth was positive after contracting by 0.2% in the third quarter, although this is likely to be marginal, while today’s annual number may be revised going forward. This lack of growth in the second-half of 2018 is likely to roll-over into 2019 and will weigh on the single currency, crimping the ECB’s ability to tighten monetary policy later in the year. The recent run of weak Euro-Zone data continues to undermine the Euro, and this may continue Wednesday and Thursday when Germany and the EU release their latest inflation figures.

EURUSD Price Latest: Heading Lower on Weak German Growth Data

EURUSD Price Outlook: Unable to Make a Decisive Break Higher

EURUSD currently remains capped by the 200-day moving average, currently situated at 1.1537, and is trading at a one-week low. The pair have also just broken below the 20-day moving average around 1.1435 and may make a fresh attempt at the 50-day ma at 1.1392 in the short-term. Below here 1.1300 heaves into view, a level that has seemingly been defended on a handful of occasions from mid-August onwards. A break and close below this level may prompt fresh attempts at 1.1265 and the 18-month low made on November 12 at 1.1215.

EURUSD Daily Price Chart (June 2018 – January 15, 2019)

EURUSD Price Latest: Heading Lower on Weak German Growth Data

IG Client Sentiment Datashows investors are currently 53.8% net-long, a bearish contrarian indicator. However recent daily and weekly positional shifts give us a stronger bearish trading outlook.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on EURUSD – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES