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
Bullish
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
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
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
USD/JPY
Bearish
More View more
Real Time News
  • 🇳🇱 Consumer Confidence (OCT) Actual: -30.0 Previous: -28.0 https://www.dailyfx.com/economic-calendar#2020-10-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.60%, while traders in EUR/USD are at opposite extremes with 74.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fLkteBRqGu
  • The $SPX seems to have worked itself into an inevitable technical break, but follow through is unlikely given the election anticipation. Nevertheless, the Tesla aftermath on Thursday's open will be something to watch . My trading video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/10/22/SP-500-Due-a-Technical-Break-Dollar-Slides-on-Stimulus-Delay-Pound-Rallies.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/XPwZSCZqju
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/s0tvG7QXwJ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.12% 🇳🇿NZD: -0.12% 🇪🇺EUR: -0.14% 🇨🇭CHF: -0.16% 🇨🇦CAD: -0.20% 🇦🇺AUD: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/n7Phs46BX1
  • Heads Up:🇳🇱 Consumer Confidence (OCT) due at 04:30 GMT (15min) Previous: -28.0 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.46% Wall Street: -0.58% US 500: -0.58% Germany 30: -0.60% France 40: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xog2DUbSzY
  • British Pound Price Outlook: GBP/USD, GBP/JPY, EUR/GBP Key Levels - $GBPUSD poised to push higher after breaching key resistance. - $GBPJPY rebound struggling to break above the August low. - $EURGBP coiling up above key support https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/10/22/British-Pound-Price-Outlook-GBPUSD-GBPJPY-EURGBP-Key-Levels.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GBP https://t.co/Qr9Tl7Qse9
  • The US Dollar is once again losing ground against #ASEAN FX as $USDGD and $USDIDR may be readying to extend losses. Will $USDMYR and $USDPHP follow? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/22/US-Dollar-Technical-Forecast-USDSGD-USDIDR-USDPHP-USDMYR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/olomq6jsAD
  • 🇹🇭 Balance of Trade (SEP) Actual: $2.230B Expected: $3.55B Previous: $4.35B https://www.dailyfx.com/economic-calendar#2020-10-22
EU Stoxx 50 Forecast: Bears Ready to Drag Index Lower on Rising Virus Cases?

EU Stoxx 50 Forecast: Bears Ready to Drag Index Lower on Rising Virus Cases?

2020-10-01 21:00:00
Thomas Westwater, Contributor
Share:

EU Stoxx 50, Coronavirus, Brexit – Talking Points

  • Bears briefly break summer price range to the downside
  • Lack of upcoming fundamental catalysts leaves focus on virus
  • Rising Covid cases across Europe alarms policy makers

EU Stoxx 50 Index price action broke down last week, in line with US equities, as the index fell to a new multi-month low amid a resurgence of wide-spread volatility in global financial markets. Monday saw a return of risk appetite with the index rising nearly 2.5% and bringing it back into a range established through the summer months. Now, with price clinging to levels just above the July lows, bears appear to be well positioned for another push lower.

EU 50 Stoxx Index (Daily Price Chart)

EU 50 Stoxx price chart

Chart created with TradingView

Equities Forecast
Equities Forecast
Recommended by Thomas Westwater
Get Your Free Equities Forecast
Get My Guide

While the index has managed to record a significant gain from its March low, year-to-date price performance sits nearly 11% lower. Bullish momentum stalled out following the July 21 high at 3451.2, as optimism surrounding a solid “V-shaped” recovery dimmed. The post-March high hasn’t been challenged since.

With the technical setup appearing to favor a move to the downside, bulls will likely need a decisive shift in risk sentiment or a fundamental catalyst before any significant move to test the upper range of price forms.

COVID Cases Tick Higher Across Major EU Economies

Covid cases Spain France Germany EU

Source: Johns Hopkins, Coronavirus Resource Center

Granted that, the coming week offers little in the cards for a fundamental catalyst according to the DailyFX Economic Calendar. Ongoing Brexit talks between the EU and Britain continue to underwhelm, but any tangible steps forward may provide a boost in risk appetite. Still, the alarming trend higher in Covid cases may cancel out any positive Brexit news, if any.

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

DISCLOSURES