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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.64%, while traders in Wall Street are at opposite extremes with 72.03%. See the summary chart below and full details and charts on DailyFX:
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open! -
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.33% 🇯🇵JPY: 0.19% 🇪🇺EUR: 0.13% 🇳🇿NZD: 0.05% 🇨🇦CAD: 0.04% 🇦🇺AUD: -0.05% View the performance of all markets via
  • Weekly Strategy Webinar starting in 15mins on DailyFX!!
  • Please join @MBForex at 8:30 EST/12:30 GMT for your weekly scalping webinar. Register here:
  • BoE's Vlieghe reiterates view that inflation peak is likely temporary $GBP
  • Goldman Sachs lowers Q3 US GDP forecast to 8.5% from 9.5%
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min)
  • BoE's Vlieghe: Appropriate to keep the current monetary stimulus in place for several quarters at least, and probably longer. And when tightening does become appropriate, I suspect not much of it will be needed, given the low level of the neutral rate. #GBP @DailyFX
EURUSD Brushes Off Consumer Confidence Weakness, Heavyweight Data Ahead

EURUSD Brushes Off Consumer Confidence Weakness, Heavyweight Data Ahead

Daniela Sabin Hathorn, Analyst

EUR Talking Points

  • EURUSD Pushing Higher
  • Eurozone Confidence Data

The EURUSD continues to push higher past 1.1150 after seeing new 2019 lows of 1.1110 last Friday following better than expected US GDP figures. The uptrend, which started on the back of the Spanish Election outcome, was continuing this morning as the lack of material figures from the Eurozone saw the EUR’s sensitivity to Consumer Confidence figures reinforced. On release of the figures, the pair moved slightly lower but quickly bounced back surpassing the 1.1164 line.

EURUSD PRICE CHART: 1 Minute Time-Frame (Intraday)

EURUSD Brushes Off Consumer Confidence Weakness, Heavyweight Data Ahead

As the session ahead has little in terms of key economic releases from the Eurozone, the main driver on the currency pair is expected this afternoon when the US Price and Spending figures are released.

EUR Forecast: Traders Eye Eurozone GDP, Jobs, CPI Data Upcoming

EURUSD traders will now look ahead to the provisional Eurozone Q1 GDP figures out Tuesday which are expected to show a slight increase from 0.2% to 0.3%, despite the Brexit drag. At the end of the week, the first look at Eurozone inflation data will be closely watched. Inflation in the single-block is expected to tick up to 1.6% from 1.4% y/y.

DailyFX Economic Calendar.

Eurozone Confidence Data

The final figures for Consumer Confidence in the month of April remain constant at -7.9 as the Eurozone Economic Confidence hits its lowest level since September 2016 at 104.

Despite an increase from 11.3 to 11.5 in the Eurozone Services Confidence, which accounts for roughly two thirds of total Euro-zone GDP, it has not proved to be enough to halt the decline in Economic Confidence. The fall is mainly led by a deterioration of Industrial Confidence from -1.7 to -2, which accounts for 40% of the Index. This figure asks for production expectations, meaning that a deterioration indicates a negative outlook for the future of the business spending and capital investment. Sentiment in the industry fell for a fifth consecutive month to -4.1 from -1.6 in March, well below expectations of -2.

IG Client SentimentEURUSD: Retail trader data shows 56.0% of traders are net-long with the ratio of traders long to short at 1.27 to 1. In fact, traders have remained net-long since Apr 12 when EURUSD traded near 1.12974; price has moved 0.4% lower since then. The number of traders net-long is 3.0% lower than yesterday and 6.7% higher from last week, while the number of traders net-short is 16.6% higher than yesterday and 5.8% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

Recommended Reading

EURUSD Weekly Technical Outlook: Euro May Bounce, but Buyer Beware – Paul Robinson, Currency Strategist

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


--- Written by Daniela Sabin Hathorn, Junior Analyst

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