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.



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
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
Wall Street
More View more
Real Time News
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: #DailyfxGuides
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:
  • The path for the Japanese Yen seems to favor the downside looking at a majors-based index. USD/JPY may rise within its Ascending Channel, but there is some scope for a healthy correction. Get your market update from @ddubrovskyFX here:
  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:
  • Senate Democrats reach deal on jobless aid -BBG
EURUSD Spikes Higher on ECB TLTRO Details

EURUSD Spikes Higher on ECB TLTRO Details

Justin McQueen, Analyst

ECB Talking Points

  • EURUSD Drop on Guidance Pared by TLTRO 3 Details
  • TLTRO 3 Details Show Favourable Lending Conditions

EURUSD Drop on Guidance Pared by TLTRO 3 Details

EURUSD had initially dipped lower on the back of the ECB’s decision to push back its forward guidance, dropping from 1.1225 to 1.1200, having stated that “rates will remain at present levels at least through to the first half of 2020”, compared its previous guidance of “through to the end of 2019”. However, keep in mind that this is just the ECB catching up with market pricing, given that money markets have already priced out the likelihood that the ECB would shift interest rates in 2019 and in fact markets are pricing in interest rate cuts. Not only this, while the ECB signal that rates will remain at current level through H1 2020, Fed Fund futures are pricing in 100bps worth of cuts from the Fed in that time.

TLTRO 3 Details Show Favourable Lending Conditions

The ECB noted that TLTRO 3 will be guided from as low as -0.3%, which is 10bps above the deposit rate for those banks who are exceeding their lending targets, while other banks would see a rate of 0.1%, which is 10bps above the main refinancing rate. Consequently, this is slightly more favourable for bank lending than had been previously expected which was -0.2%-0%, thus helping the Euro find a bid to session highs of 1.1272.

EURUSD PRICE CHART: 1-Minutes Time Frame (Intra-day)

EURUSD Spikes Higher on ECB TLTRO Details

For a more in-depth analysis on EUR, check out the Q2 Forecast for EUR

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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