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
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇨🇭 Consumer Confidence (Q3) Actual: -30 Previous: -39.3 https://www.dailyfx.com/economic-calendar#2020-08-04
  • Heads Up:🇨🇭 Consumer Confidence (Q3) due at 05:45 GMT (15min) Previous: -39.3 https://www.dailyfx.com/economic-calendar#2020-08-04
  • If you missed my LIVE coverage of the #RBA rate decision where I discussed the outlook for $AUDUSD following recent losses and ahead of key event risk this week, check out the recording on YouTube here - https://t.co/SJfzT6VYfb
  • The US Dollar remains under pressure against ASEAN currencies. USD/SGD and USD/MYR may extend losses as USD/PHP and USD/IDR face bullish technical signals. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/C0YoIAxhRF https://t.co/M5JaY4P0h9
  • 🇦🇺 RBA Interest Rate Decision Actual: 0.25% Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2020-08-04
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.43%, while traders in US 500 are at opposite extremes with 77.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IhzgYE3BMN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.08% 🇪🇺EUR: 0.06% 🇦🇺AUD: 0.03% 🇨🇦CAD: -0.01% 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/gFx2jU0MMn
  • Heads Up:🇦🇺 RBA Interest Rate Decision due at 04:30 GMT (15min) Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2020-08-04
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.03% US 500: -0.02% Germany 30: -0.08% France 40: -0.09% FTSE 100: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/E59rijEnLv
  • The Japanese Yen may fall against its major counterparts as it enters the second half of an 8-year cycle. AUD/JPY, EUR/JPY rates eye push to fresh yearly highs. Get your $JPY market update from @DanielGMoss here:https://t.co/EZUxcQa9dq https://t.co/NfPDVPk8Gi
EUR Hit Hard as Draghi Hints at Further QE, Key Focus on ECB Sintra Panel

EUR Hit Hard as Draghi Hints at Further QE, Key Focus on ECB Sintra Panel

2019-06-18 09:30:00
Daniela Sabin Hathorn, Analyst
Share:

EUR Talking Points:

  • Draghi hints at further monetary stimulus and sends the Euro tumbling
  • EURUSD falls below 1.1200 for the first time since the beginning of the month, eyeing 1.1180 support level
  • ZEW economic sentiment falls sharply as US tariff war continues to dampen growth prospects

EUR suffered a hit as Mario Draghi hinted that further monetary stimulus could be needed at his opening speech at the ECB Sintra Panel. The ECB President said that quantitative easing has considerable headroom and the Euro responded by losing significant ground against most major currencies. EURUSD fell 0.35% to 1.1195, its lowest level since the beginning of June and below the psychological 1.1200 handle. The pair could now focus on 1.1180 as the next key support. EURJPY lost 0.45% to 121.216, again nearing levels not seen since the beginning of the month. EURGBP was the pair that remained most resilient after Draghi’s comments as investors still lack confidence in GBP and remain cautious.

EURUSD PRICE CHART DAILY TIME-FRAME (MAY 2019 – JUNE 2019)

EUR Hit Hard as Draghi Hints at Further QE, Key Focus on ECB Sintra Panel

A busy few days lie ahead for EURUSD traders as both the ECB and the Fed are due to give insight on the future of their economies. ECB officials including Mario Draghi will be speaking at a forum in Portugal this week, with key focus on a policy panel with BoE governor Mark Carney due to take place today at 1400 GMT. Wednesday will see the Fed release their interest rate decision where investors will play close attention for any updates on their expectations about future growth and the likelihood of any rate cuts.

DailyFX Economic Calendar

DAILY CHART: IMPLIED ECB RATE CUT EXPECTATIONS (JULY 2019 – DEC 2020)

EUR Hit Hard as Draghi Hints at Further QE, Key Focus on ECB Sintra Panel

EURGBP continues to be Brexit focused as the pair mostly trades sideways with heightened volatility experienced when UK political events occur. Focus will be on BoE governor Mark Carney’s stance on the future of the economy and the need for more monetary stimulus, although it is expected that he will continue to have a wait-and-see stance until the Brexit uncertainty clears.

ZEW Figures Offer No Relief

Increasing the downward pressure on the Euro was the release of the German Zew survey which revealed that economic expectations have decreased to -21.81 in the month of June, down from -2.1 in the previous month and well below expectations of -5.8. Although economic sentiment in Germany, which is greatly influenced by the manufacturing sector, was expected to worsen because of the increased trade tensions that culminated in US tariffs being imposed on Mexico, the figure came in much worse than expected which continued the Euro sell-off across the board. Economic sentiment in Germany has fallen back in to the deep negative, close to its lowest level of -24.7 seen in July and October 2018. The figure picked up gradually at the beginning of 2019 offering a positive reading of 3.1 in the month of April before falling back below 0 in May.

Recommended Reading

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

KEY TRADING RESOURCES:

--- Written by Daniela Sabin Hathorn, Junior Analyst

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

DISCLOSURES

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.