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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
Gold
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
Oil - US Crude
Bullish
Bitcoin
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.02%, while traders in France 40 are at opposite extremes with 79.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MsDN4XgJAR
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr https://t.co/soLloKxMYl
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.65% Gold: 0.51% Oil - US Crude: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/t2PxpO1HEm
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.16% 🇯🇵JPY: 0.13% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.06% 🇪🇺EUR: -0.06% 🇬🇧GBP: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/iI1uVqA6M3
  • Gold Price: Signals to Break the Deadlock - XAU/USD Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2019/11/22/Gold-Price-Signal-to-Break-the-Deadlock-XAUUSD-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/0pz8KRXUxG
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: 0.21% Wall Street: 0.19% France 40: 0.14% Germany 30: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/b315HhEW59
  • Crptos getting really ugly...Bitcoin trades with a 6-handle... #btc #eth #bch #xrp @DailyFX Latest prices from @IGcom https://t.co/aRrOWqrklw
  • LIVE NOW! Currency Strategist @PaulRobinsonFX runs through his favorite charts and potential set-ups for the week ahead in the FX and CFDs market here - https://www.dailyfx.com/webinars/108721147?CHID=9&QPID=917720
  • Crypto prices from @IGcom #btc #eth #bch #xrp @DailyFX https://t.co/ccioeMTbb3
  • Bitcoin slump - Happening a bit quicker than I thought...Will we see a 6 handle today? #btc #bitocin @DailyFX https://www.dailyfx.com/forex/market_alert/2019/11/22/Bitcoin-BTC-Price-Analysis-Oversold-But-Bearish-Sentiment-Remains-.html
Euro Eyeing German Factory Orders as EU Growth Slows, ECB Eases

Euro Eyeing German Factory Orders as EU Growth Slows, ECB Eases

2019-03-08 04:30:00
Dimitri Zabelin, Junior Currency Analyst
Share:

EURO TALKING POINTS – EUR/USD, GERMAN FACTORY ORDERS, ECB

  • Will the Euro move on German factory orders?
  • “Steam engine” of Europe sputters and slows
  • ECB cut growth outlook – uncertainty ahead

See our free guide to learn how to use economic news in your trading strategy!

The Euro took a hit yesterday after the ECB announced it intends to hold rates throughout the rest of the year and plans to introduce liquidity provisions to counter the EU economic slowdown. EUR/USD plunged through the support at 1.1269 and broke through a key psychological barrier at 1.1216, the lowest point since June 2017.

EUR/USD – Daily Chart

Chart Showing EURUSD

EUR/USD – Weekly Chart

Chart Showing EURUSD

The ECB cut its inflation forecast for 2019 from 1.6 percent to 1.2 with central bank President Mario Draghi saying the risks to the economic outlook still remain tilted on the downside. This comes shortly after seasonally adjusted year-on-year GDP came in at 1.1 percent, undershooting the 2.2 forecast. As expected, Draghi also cited the increasing risk and uncertainty stemming from a shift in European geopolitics.

The upcoming German factory orders data is therefore important to monitor because it will serve as a key gauge to determine how producers in the largest Eurozone economy feel about the economic outlook. Forecasts are currently pegged at 0.5 percent with the previous showing a contraction of 1.6. Italian month-on-month industrial production may also warrant the attention of Euro traders because it may illuminate the level of demand in the recession-burdened economy.

Looking ahead, on the external front, policymakers will continue to watch for key risks from abroad such as the trade war negotiations between Washington and Beijing, the EU’s potential economic conflict with the US and slower growth in China. At home, EU officials will be monitoring the situation with Brexit and closely eyeing the political landscape as the continent approaches its most consequential EU-wide election to date.

EUR/USD TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES

News & Analysis at your fingertips.