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
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
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
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • UK PM Johnson spokesman says a deal is still possible but significant gaps remain, adds that EU must adopt more realistic policy for a deal
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in Germany 30 are at opposite extremes with 60.54%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0hZsxwi79S
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the week! https://t.co/chKtG7ezG9
  • ECB Sources - New rift opening in ECB GC over future stimulus & economic projections - Hawk wanted in Sep to quietly reduce pace of PEPP purchases and objected to projections excluding fiscal measures - Doves object to Lagarde's timid language on Euro strength
  • EU's Sefcovic says UK position far apart from what the EU can accept $GBP
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.16% 🇦🇺AUD: 0.55% 🇪🇺EUR: 0.34% 🇳🇿NZD: 0.21% 🇯🇵JPY: 0.15% 🇨🇦CAD: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/40nxAUXNSB
  • Weekly Strategy Webinar starting in 15mins! https://t.co/lxd5fZnn4H
  • RT @meremortenlund: 🇺🇸💸Here is how to trade the US election https://t.co/mOl43ebajd
  • 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/fqXGrwfEYs
  • Join @MBForex at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/57Z0cB6HsJ
EURUSD Bounces Off Support on Firm Data and Softer Brexit Hopes

EURUSD Bounces Off Support on Firm Data and Softer Brexit Hopes

2019-04-03 09:30:00
Justin McQueen, Analyst
Share:

EUR Analysis and Talking Points

  • EURUSD Bounces Off 1.12
  • Brexit Moving in a Softer Direction

For more in-depth analysis on EUR, read the brand new Q1 2019 FX forecast guides

EURUSD Bounces Off 1.12

The Euro and German yields had been underpinned this morning by a slew of better than expected services PMI figures from the Eurozone. Consequently, this has eased some concerns that the weakness in the manufacturing sector is spreading to the whole economy, given the pick up in the services data. However, while the manufacturing sector remains weak the upside in the Euro remains somewhat limited, as such, any sizeable move to the upside should be treated with caution. Risks to the Euro-Area continue to remain tilted to the downside, while CFTC data continues to show that investors remain bearish on the Euro with net shorts valued at over $11bln.

EURUSD Bounces Off Support on Firm Data and Softer Brexit Hopes

Source: DailyFX

Brexit Moving in a Softer Direction

The increasing hope that Brexit is moving in a softer direction has been among the supportive factors behind the Euro this morning. Yesterday saw PM May reach out to the Labour leader Jeremy Corbyn in order to find a Brexit compromise, while also seeking an agreement with the EU on an extension to Article 50. While political uncertainty over Brexit remains high, there is a growing sense that the approach is moving to a softer direction.

EURUSD PRICE CHART: Daily Time Frame (Dec 2018 – Apr 2019)

EURUSD Bounces Off Support on Firm Data and Softer Brexit Hopes

IG Client Sentiment

EURUSD Bounces Off Support on Firm Data and Softer Brexit Hopes

Source: DailyFX

Recommended Reading

Eurozone Debt Crisis: How to Trade Future Disasters – Martin Essex, MSTA, Analyst and Editor

Chart by IG

KEY TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES