Skip to content
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.

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
Subscribe
Please try again
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
Gold
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
More View more
ECB Expresses Concern Over Euro Strength

ECB Expresses Concern Over Euro Strength

Katie Pilbeam, Contributor

European Central Bank policymakers have expressed concern about a possible overshoot in the euro – after the meeting minutes were published. A stronger euro make’s Eurozone products more expensive and therefore less competitive.

The minutes showed concern about the recent euro bounce as they decided against any change to their pledge for continued monetary stimulus. ECB policy makers warn that easy financing conditions "could not be taken for granted". The euro fell on the release of the minutes to a three-week low against the USD.

Eurozone inflation came in line with expectations, remaining steady at 1.3pc in July. Accommodation services and package holidays had the biggest impact on inflation according to Eurostat. Telecommunication and fruit and vegetable prices pulled down the figure most.

UK retail sales come in flat but beat expectations with the July’s month/month figure rising by 0.3% according to the Office for National Statistics. June’s figures however were revised down from 0.6% to 0.3%. Most things are off the shopping list except for food – which is still filling up our trollies here in Britain and was up 1.5%.

Much of this movement is due to Sterling weakness but if we look at the chart we can cable has run straight into the rising trendline that has held since March. The bulls now have a chance to push the pair back to $1.30 and higher.

And staying with retail – shoppers are reeling their DIY spending with the owner of B&Q posting a loss of more than £50m. Kingfisher said sales at the home improvement chain were down 8pc in the second quarter and it is the worst performer on the FTSE 100 today.

If you're interested in a strategy session, check out the DailyFX Webinar Page.

--- Written by Katie Pilbeam, DailyFX

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

DISCLOSURES