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
Bullish
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
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 💶 Retail Sales YoY (JAN) Actual: -6.4% Expected: -1.2% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-03-04
  • 💶 Unemployment Rate (JAN) Actual: 8.1% Expected: 8.3% Previous: 8.1% https://www.dailyfx.com/economic-calendar#2021-03-04
  • Heads Up:💶 Retail Sales YoY (JAN) due at 10:00 GMT (15min) Expected: -1.2% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-03-04
  • Heads Up:💶 Unemployment Rate (JAN) due at 10:00 GMT (15min) Expected: 8.3% Previous: 8.3% https://www.dailyfx.com/economic-calendar#2021-03-04
  • 🇬🇧 Construction PMI (FEB) Actual: 53.3 Expected: 51 Previous: 49.2 https://www.dailyfx.com/economic-calendar#2021-03-04
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/crXp4Tnxku
  • Heads Up:🇬🇧 Construction PMI (FEB) due at 09:30 GMT (15min) Expected: 51 Previous: 49.2 https://www.dailyfx.com/economic-calendar#2021-03-04
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.76%, while traders in Germany 30 are at opposite extremes with 65.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tF7NDRkMxh
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.56% Gold: 0.32% Silver: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oQYFEnQWXw
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/5Rb6Zace9V
EURUSD Sentiment Broken After Feeble German and French PMIs

EURUSD Sentiment Broken After Feeble German and French PMIs

Nick Cawley, Strategist

EURUSD Price, Chart and PMIs:

  • EURUSD trades back below 1.1300
  • German manufacturing PMI hits a six-and-a-half year low.

Q1 2019 EUR Forecast and USD Top Trading Opportunities

The Euro fell sharply Friday after the preliminary IHS Markit PMIs pointed to Q1 GDP growth of just 0.2% in the Euro-Zone, due largely to a sharp contraction in manufacturing activity. All three French PMI fell below 50, the expansion/contraction level, while German manufacturing activity hit a six-and-a-half year low.

EURUSD Sentiment Broken After Feeble German and French PMIs

DailyFX Economic Calendar

Commenting on the flash Euro-Zone PMI data, Chris Williamson, chief business economist at IHS Markit said: “The eurozone economy ended the first quarter on a soft note, with the flash PMI running at one of the lowest levels seen since 2014. The survey indicates that GDP likely rose by a modest 0.2% in the opening quarter, with a decline in manufacturing output in the region of 0.5% being offset by an expansion of service sector output of approximately 0.3%”.

EURUSD Landing Page with Price Analysis, Charts, Pivot Points and Latest News and Views.

EURUSD fell briefly back below 1.1300 after the release the French and German numbers – having touched a recent high of 1.1450 post-FOMC on Wednesday - and is now below all three moving averages. The pair have moved out of overbought territory and may now struggle either side of the 1.1300 handle in the short-term.

EURUSD Daily Price Chart (July 2018 – March 22, 2019)

EURUSD Sentiment Broken After Feeble German and French PMIs

Retail traders are 47.9% net-long EURUSD according to the latest IG Client Sentiment Data, a bullish contrarian indicator. Recent changes in daily and weekly sentiment however give us a mixed trading bias for EURUSD.

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