Weak PMIs put pressure on EUR
Eurozone economic growth has been losing strength throughout the past year, but this did not stop the ECB from cutting the QE program.
Now market participants are focused on the comments related to ECB future policy.
Read more
Eurozone economic growth has been losing strength throughout the past year, but this did not stop the ECB from cutting the QE program.
Now market participants are focused on the comments related to ECB future policy.
Read more
FxPro News
FxPro Blog for forex traders
Eurozone PMI estimates put pressure on the single currency on Thursday. EURUSD experienced serious pressure, falling 0.5% to 1.1330 after the release ...
Draghi's comments not only did not reassure traders with the euro after weak economic data [https://t.me/fxpro/2102], but strengthened the weakening of the single currency. The ECB head noted the increased downside risks for the economy, which sent EURUSD to 1.13000 at one moment against 1.1390 at the beginning of the day. These are minimums since January 3.
Telegram
FxPro
German Manufacturing is on the edge of decline, according to PMI estimates for January. Drop of this index from 51.5 to 49.9 lead EURUSD falling by 0.5% after the release. Now focus turns to ECB press-conference, whether this data was enough to soften Draghi’s…
🗓 Important upcoming events and publications for January 25 (GMT):
🇩🇪 09:00 Germany Ifo Business Climate Index is expected to show the fifth consecutive month of decline. Investors and traders have increased focus on data from euro-region. In particular, weak PMI provoked EURUSD decline on Thursday. The ECB also draws attention to the slowing economy, noting that releases below expectations are putting pressure on the euro.
🇬🇧11:00 U.K. CBI Realized Sales rarely causes spikes of volatility, but in the absence of other important reports is able to attract the attention of traders with #GBP. December figures surprised with big decline from +19 to -13. This time it is expected to return to positive territory up to +3 that reflects the increase compared to the last year.
🛢18:00 US Baker Hughes Rig Count caught the attention with sharp decline last week from 1075 to 1050. Confirmation of reduced drilling activity can increase WTI and Brent purchases.
Visit https://fxpro.news/economic-calendar/ for more details.
🇩🇪 09:00 Germany Ifo Business Climate Index is expected to show the fifth consecutive month of decline. Investors and traders have increased focus on data from euro-region. In particular, weak PMI provoked EURUSD decline on Thursday. The ECB also draws attention to the slowing economy, noting that releases below expectations are putting pressure on the euro.
🇬🇧11:00 U.K. CBI Realized Sales rarely causes spikes of volatility, but in the absence of other important reports is able to attract the attention of traders with #GBP. December figures surprised with big decline from +19 to -13. This time it is expected to return to positive territory up to +3 that reflects the increase compared to the last year.
🛢18:00 US Baker Hughes Rig Count caught the attention with sharp decline last week from 1075 to 1050. Confirmation of reduced drilling activity can increase WTI and Brent purchases.
Visit https://fxpro.news/economic-calendar/ for more details.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
How FX affect stocks
On Friday the UK’s FTSE100 is "below the market", adding just 0.2% to the contrast with the growth of the German DAX30 by 1.0% since the beginning of the day. The main reason for such a significant difference is the strengthening of the Pound to the Euro by 1.1% after the ECB press conference.
Be careful! The last couple of hours the pound loses its position to the euro and the dollar, so the difference in dynamics of FTSE100 and DAX30 may lose its strength.
On Friday the UK’s FTSE100 is "below the market", adding just 0.2% to the contrast with the growth of the German DAX30 by 1.0% since the beginning of the day. The main reason for such a significant difference is the strengthening of the Pound to the Euro by 1.1% after the ECB press conference.
Be careful! The last couple of hours the pound loses its position to the euro and the dollar, so the difference in dynamics of FTSE100 and DAX30 may lose its strength.
🗓 Important upcoming events and publications for January 28 (GMT):
🇪🇺14:00, 16:00 Mario Draghi, ECB President, speaks in the European Parliament with a quarterly report on economic and monetary issues. The attention of the markets will be given to the assessment of the financial system and the future steps in monetary policy. Cautious rhetoric and “wait-and-see” approach can push the euro lower.
🇬🇧 14:30 Mark Carney, Bank of England governor, speech and the follow-up session of questions and answers together with other Monetary Policy Committee members. The main topic of the forum is the future of money, but the answers to questions about the near future of monetary policy after Brexit may cause an increase of market interest and a surge of volatility.
Visit https://fxpro.news/economic-calendar/ for more details.
🇪🇺14:00, 16:00 Mario Draghi, ECB President, speaks in the European Parliament with a quarterly report on economic and monetary issues. The attention of the markets will be given to the assessment of the financial system and the future steps in monetary policy. Cautious rhetoric and “wait-and-see” approach can push the euro lower.
🇬🇧 14:30 Mark Carney, Bank of England governor, speech and the follow-up session of questions and answers together with other Monetary Policy Committee members. The main topic of the forum is the future of money, but the answers to questions about the near future of monetary policy after Brexit may cause an increase of market interest and a surge of volatility.
Visit https://fxpro.news/economic-calendar/ for more details.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
Technical analysis suggests that we saw "bullish absorption" on EURUSD on Friday. This is a signal for the reversal to growth. However, this technical signal will have to undergo a series of test from fundamental data.
📍 China - USA trade talks
📍 Possible new vote for the Brexit plan in the U.K. Parliament
📍 The Fed rate decision
📍U.S. Employment report
Any of these events have the potential to generate a new trend in the markets. All together they can lead to serious messy on markets.
📍 China - USA trade talks
📍 Possible new vote for the Brexit plan in the U.K. Parliament
📍 The Fed rate decision
📍U.S. Employment report
Any of these events have the potential to generate a new trend in the markets. All together they can lead to serious messy on markets.
🗓 Important upcoming events and publications for January 29 (GMT):
🇺🇸 14:00 U.S. Case/Shiller House price index for the 20 largest metropolitan regions is a very reliable, albeit quite lagging indicator. The data for November will be released today, and it is expected the index to maintain the annual growth rate at 5.0% after seven months of decline from 6.8%. The further slowdown can put pressure on #USD, as the attention of market participants will switch to signs of slowing growth.
🇺🇸 15:00 U.S. Consumer Confidence indicator is expected to continue its decline after multi-year peak levels it reached at the end of the year. On average, market analysts are expected the index to drop from 128.1 to 125.0. A sharper drop could have significant pressure on #USD, stressing that the peak of the growth rate was left behind. The higher performance, on the other hand, can inspire markets to buy dollar assets.
Visit https://fxpro.news/economic-calendar/ for more details.
🇺🇸 14:00 U.S. Case/Shiller House price index for the 20 largest metropolitan regions is a very reliable, albeit quite lagging indicator. The data for November will be released today, and it is expected the index to maintain the annual growth rate at 5.0% after seven months of decline from 6.8%. The further slowdown can put pressure on #USD, as the attention of market participants will switch to signs of slowing growth.
🇺🇸 15:00 U.S. Consumer Confidence indicator is expected to continue its decline after multi-year peak levels it reached at the end of the year. On average, market analysts are expected the index to drop from 128.1 to 125.0. A sharper drop could have significant pressure on #USD, stressing that the peak of the growth rate was left behind. The higher performance, on the other hand, can inspire markets to buy dollar assets.
Visit https://fxpro.news/economic-calendar/ for more details.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
EURUSD pair is stuck in the range 1.13-1.15, turning on Friday from the its bottom . The technical analysis supporters may note that the pair reversal on Friday is a “bullish takeover.” Such a model on the market is a sign of further growth of the currency pair. However, it is worth being careful to follow this candlestick pattern as the situation will most likely get hotter, and the EURUSD growth model will have to undergo several fundamental checks