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
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
Real Time News
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX!
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • The US Dollar may seesaw as investors navigate what could be a volatile week packed with US GDP data, rising Covid-19 cases, Q3 corporate earnings and more. Get your #currencies update from @ZabelinDimitri here:
  • USD/MXN pushes lower towards a critical support level in the midst of continued political uncertainty. Get your #currencies update from @HathornSabin here:
  • Gold Forecast - via @DailyFX “Gold price outlook still hinges on stimulus deal expectations and corresponding swings in real yields.” What will I have my eyes on in the week ahead? Link to Analysis: $GC_F $XAUUSD $GLD
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Talks between the EU and UK restarted today and will continue over the weekend as negotiators from both sides battle against the clock. Get your #currencies update from @nickcawley1 here:
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • 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:
EUR/USD March Higher Continues, Fed Speak and Euro News Compete with Trump

EUR/USD March Higher Continues, Fed Speak and Euro News Compete with Trump

2017-05-23 03:01:00
John Kicklighter, Chief Strategist

Talking Points:

  • EUR/USD extended its advance into the new week, hitting a six month high that clears out further resistance
  • The Dollar is struggling to control its own bearings, but Fed speak Monday and Tuesday will span the extremes of policy
  • Complacency is setting back in for risk trends as we await key global meetings; Kiwi and Bitcoin top the market movers

Traders have expectations that they will ride the volatility of a high-level event risk to quick profit, but the realities are often very different. Download the strategy guide for Trading Forex News on the DailyFX trading guides page.

The run continues. EUR/USD - the most liquid currency pair in the FX market and arguably one of the most traded assets in the entire financial system - continued its climb to a fresh six-month high. This move has defied the traditional fundamental hurdles and easily cleared a range of otherwise influential technical barriers. How far this pair reaches holds far more influence than just the opportunities in a EUR/GBP wedge break or EUR/AUD trend extension, it can dictate the bearings of an otherwise passive Greenback. As the world's most used currency, that can have far-reaching implication out to the sphere of influence including systemic risk trends. That is the potential, but what are the practicalities.

Looking across very crosses, we can come to the conclusion that the Euro has been doing the heavy-lifting as of late. On its own docket to start this new trading week, we had a few headlines that popped up on traders' radars. The data registered low on the influence scale, but there were a couple of developments that crossed the wires that no doubt drew attention. The first day of the EU and Eurozone Finance Ministers meeting didn't bear fruit with Greece, but that was expected. Germany's economic forecast for 2017 was raised but that too follows a normal course. The unexpected would come from German Chancellor suggesting that the Euro was too low on the backdrop of the ECB's exceptional easing. While that is atypical and comes from a rather influential person, officials' evaluations of value rarely translate into genuine market movement. From the Dollar, the circumstances were equally couched in measured potential. The Chicago Fed's upgraded assessment of the US economy is a welcome sign after the weak 1Q GDP reading, but of limited interest for traders looking elsewhere. More remarkable but losing its power was the Fed speak which included Kaplan's reiteration of support for a FOMC QE reversal this year.

Neither Dollar nor Euro seems strongly motivated, and that should dampen our expectations for dramatic opportunity. The same should be assessed for general risk trends. While benchmarks for sentiment from US equity indexes to global shares to high risk assets all ticked higher, it was a very measured performance. Traders should remain observant and flexible to developments which translates into shorter duration trades, lower risk and an open mind to flipping views. Meanwhile, the anticipated volatility measures continue to deflate to extreme complacency levels. While it may be reasonable for expected activity levels one week forward to drop to very low levels, it is increasingly dubious that the same should be assessed for 1 month and 3 months forward. With US President Trump's meetings escalating in economic importance - with NATO and G7 meetings in the latter half - we should at least count for the out chance that volatility can show up. Meanwhile, this past session's top movers were the New Zealand Dollar's remarkable surge and Bitcoin's extreme extension (and subsequent retreat). We discuss what is developing and what is likely ahead in today's Trading Video.

EUR/USD March Higher Continues, Fed Speak and Euro News Compete with TrumpEUR/USD March Higher Continues, Fed Speak and Euro News Compete with TrumpEUR/USD March Higher Continues, Fed Speak and Euro News Compete with Trump

To receive John’s analysis directly via email, please SIGN UP HERE

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