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
More View more
Real Time News
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here:
  • US Dollar Outlook: Fed Decision Due - Will it Spark Fireworks? The $DXY edged lower on Tuesday with $EURUSD, $GBPUSD, and $USDJPY all feeling Dollar weakness. Will the Fed catch markets off-guard with another hawkish surprise tomorrow? Link to Analysis -
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:
  • USD/JPY price action has weakened sharply on the session but is searching for support. Get your $USDJPY market update from @RichDvorakFX here:
  • RT @BrendanFaganFx: Nasdaq 100 Outlook: Stocks Decline Despite Stellar Tech Earnings, All Eyes Shift to Fed $AAPL $MSFT $GOOG $QQQ $NDX L…
  • $SPX put in for an impressive midday recovery this past session leaving a large lower wick. The scale of the lower wicks consistently larger than corrections off highs
  • 🇰🇷 Consumer Confidence (JUL) Actual: 103.2 Previous: 110.3
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.53% 🇬🇧GBP: 0.44% 🇨🇭CHF: 0.13% 🇦🇺AUD: -0.32% 🇨🇦CAD: -0.46% 🇳🇿NZD: -0.60% View the performance of all markets via
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
Euro Latest: EUR/USD Upside Faces Tough Resistance, PMIs Mixed

Euro Latest: EUR/USD Upside Faces Tough Resistance, PMIs Mixed

Justin McQueen, Analyst

EUR/USD Price Analysis & News

  • German PMIs Benefit From Re-opening Effects
  • EUR/USD Upside Faces Tough Resistance

PMI RECAP: French PMI’s printed slightly below expectations. However, the data signals strong back to back monthly growth in output with the French economy enjoying its best quarterly performance since the beginning of 2018, according to IHS Markit. Elsewhere, inflationary pressures continued to pick up as prices paid rose to their strongest pace in nearly a decade.

German PMI’s posted a big beat vs expectations, thanks to the re-opening effects of the German economy. In turn, the composite rose to its highest level since March 2011. Similar to the French PMI, average prices charged for goods and services accelerated to record levels.

Euro Area PMIs:

Euro Latest: EUR/USD Upside Faces Tough Resistance, PMIs Mixed

Source: DailyFX

EUR/USD: While German PMI’s has taken the pair back to intra-day highs, there are hurdles ahead for further upside. As I stated on Monday, resistance is situated at 1.1950 and 1.1990 which are likely areas where traders will attempt to fade gains. A stabilisation in risk sentiment and a plethora of Fed members reiterating that substantial progress is still needed highlights the fact that much of last week’s USD surge had been fuelled by an unwind of USD short positioning. That being said, today’s PMIs are unlikely to alter the outlook for EUR/USD with the narrative surrounding Fed-ECB policy divergence likely to become a key driver.

EUR/USD Chart: Daily Time Frame

Euro Latest: EUR/USD Upside Faces Tough Resistance, PMIs Mixed

Source: Refinitiv

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