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
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
Wall Street
More View more
Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • Post-ECB, the Euro cross most interesting to me is $EURCHF. It is up five consecutive days. In the past three years, that has only occurred 4 other times. Last two prompted notable reversals https://t.co/FAHBXj6a5e
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: -0.20% Silver: -0.40% Oil - US Crude: -0.87% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xC4lNkvOoi
  • Heads Up:🇺🇸 Business Inventories MoM (MAY) due at 14:00 GMT (15min) Expected: -2.3% Previous: -1.3% https://www.dailyfx.com/economic-calendar#2020-07-16
  • Heads Up:🇺🇸 NAHB Housing Market Index (JUL) due at 14:00 GMT (15min) Expected: 60 Previous: 58 https://www.dailyfx.com/economic-calendar#2020-07-16
  • And that's it from #Lagarde, with nothing to concern $EURUSD traders https://t.co/7sxcCUDjGy
  • $BTC remains contained between $9,000 and $10,000 for the last 6 weeks with the overall bias pointing lower. Get your #Bitcoin market update from @nickcawley1 here: https://t.co/EvTzxBfEN5 https://t.co/DzhiRAFNVl
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.51% Germany 30: -0.54% Wall Street: -0.64% US 500: -0.65% France 40: -0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MhrCYlHdf7
  • ECB's Lagarde says the ECB's assumption is for the EU recovery fund to be approved $EUR
  • So ECB President Lagarde sees EUR750 billion RRF being agreed....#euro #ecb
  • #Lagarde: our assumption is that EU recovery fund will be agreed
EURUSD Gains on German Deficit Report, US Consumer Sentiment Sinks

EURUSD Gains on German Deficit Report, US Consumer Sentiment Sinks

2019-08-16 15:28:00
Thomas Westwater, Contributor

EURUSD, US Consumer Confidence, Germany Deficit Spending - Talking Points

  • Consumer Confidence falls to 92.1, the lowest reading since January
  • Germany confirmed they are ready to run a deficit to combat any coming recession, sending EURUSD higher in early US trading
  • Housing starts show weakness as multi-family units mask demand for Single-family housing

The University of Michigan Consumer Sentiment figure printed a disappointing 7-month low Friday morning as consumer optimism stumbled from last month’s reading. Analyst consensus was estimating the headline figure to come in at 97.0, but the actual number came in well short at 92.1. Consumers noted the recently announced tariff proposal from the Trump administration calling for additional tariffs on Chinese imports. Even with the postponed start date, which aims to save the holiday shopping season, consumers remain concerned about increased prices on the goods they buy.

The recent rate cut from the Federal Reserve also spurred consumer concern of an impending recession, with consumers following the conventional view that interest rate cuts coincide with a recession. Markets were largely unchanged after the report, however. Shortly after the release of US consumer sentiment data, a report out of Germany sent the US Dollar Index lower driven by gains in the Euro against the greenback. Germany’s Chancellor Merkel and Finance Minister Scholz indicated that the country’s government stands ready to prop up the German economy if it falls into a recession according to a report from Spiegel. German bund yields moved up following the report with the German 10-Year Bund rising up to -0.687%.

EURUSD Price Chart – 1-Minute Time Frame

EURUSD Price Chart

US housing starts also printed a miss this morning with 1191k starts in July – below the estimate of 1256k – while the prior month was also revised down by 12k. Although single-family units saw a gain, apartment buildings and multi-family homes sunk at a faster rate. While strong wages and low mortgage rates bolsters demand, home builders are still faced with labor shortages coupled with gaining lots mostly due to burdensome regulations in parts of the country.

DXY Index – 1-Minute Time Frame

US Dollar Index Price Chart

--Written by Thomas Westwater, Intern Analyst for DailyFX.com

Contact and follow Thomas on Twitter @FxWestwater

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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


News & Analysis at your fingertips.