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Daily Financial Market News

Tue, 23 Jan 2018 05:27:00 GMT

Euro to Look Past ZEW Data, US Dollar Eyes World Economic Forum

Euro to Look Past ZEW Data, US Dollar Eyes World Economic Forum Search DailyFX Home Rates Charts News Market News Real-Time News Daily Briefings Forecast Market Alerts DailyFX Authors Articles Market News Headlines Traders Urged to Respond to Proposed European Rule Changes Euro May Shrug Off Soft PMI Data, Looking Ahead to ECB Meeting AUD/USD Rally Approaching Initial Resistance Targets Technical Analysis Analysis Technical Analyst Picks Support & Resistance Daily Technical Reports Pivot Points Sentiment Articles Algorithmic Trading Technical Analysis Headlines FTSE Technical Outlook – Consolidation Period Would Do Some Good Japanese Yen Technical Analysis: USD/JPY Wilts, 107 Could Beckon As Dollar Weakness Presists, Yen May Rally Calendars Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar Forex Economic Calendar Time Event Actual Forecast Rates Charts Education Education Beginner Intermediate Advanced Expert Free Trading Guides DAILYFX PLUS × Get the best parts of DailyFX.com in the new DailyFX App Download × Join Us For Our Free Webinars Get daily market analysis from our in-house experts Choose from more than 25 webinars each week Put your questions to our experts in real-time Q&As Register now Want to hold off on improving your trading? Click here to dismiss. × Get Your Free Trading Guides With your broad range of free expert guides, you'll explore: The basics of forex trading and how to develop your startegy Foundational knowledge to help you develop an edge in the market What's ahead for major FX pairs, Gold, Oil and more Download a Free Guide Want to hold off on improving your trading? Click here to dismiss. EUR/USD Low High View More Note: Low and High figures are for the trading day. News Euro May Shrug Off Soft PMI Data, Looking Ahead to ECB Meeting USD & JPY Get Haven Bids as Trump Protectionism Returns EUR/USD Boosted as German Economic Sentiment Soars GBP/USD Low High View More Note: Low and High figures are for the trading day. News Investor Sentiment Remains Buoyant as US Government Shutdown Ends USD & JPY Get Haven Bids as Trump Protectionism Returns A Weekly Technical Perspective on GBP/USD, USD/CAD, USD/CHF USD/JPY Low High View More Note: Low and High figures are for the trading day. News USD/JPY Elliott Wave Analysis Points Towards 107 Japanese Yen Technical Analysis: USD/JPY Wilts, 107 Could Beckon Japanese Yen Shrugs at Strong Local Data After Dovish BOJ Gold Low High View More Note: Low and High figures are for the trading day. News Trading Outlook for Gold & Silver, Crude Oil, Copper, DAX & More Gold Prices Rise Even as US Government Shutdown Ends Gold Awaits Dollar’s Lead Before Deciding Breakout or Reversal Oil Low High View More Note: Low and High figures are for the trading day. News Gold Prices Rise Even as US Government Shutdown Ends Weekly Technical Outlook- USD Warning Signs of Stretched Price Action Crude Oil Prices Struggle as Gold Eyes US Government Shutdown BITCOIN Low High View More Note: Low and High figures are for the trading day. News Bitcoin, Ethereum, Ripple; Technical Support Still Needed Bitcoin Shifts to a Mixed Trading Bias Bitcoin, Ethereum, Ripple Prices Crumble, Market Capitalization Slashed View More More Real-Time News Facebook Twitter Youtube Google + Euro to Look Past ZEW Data, US Dollar Eyes World Economic Forum by  Ilya Spivak, Sr. Currency Strategist  Fundamental analysis, economic and market themes Connect via: Talking Points: Euro likely to look past ZEW survey as ECB rate decision looms US Dollar may fall as Davos headlines inspire “reach for yield” Aussie Dollar sinks as iron ore drop echoes in RBA policy bets The January edition of Germany’s ZEW survey of investor confidence headlines an otherwise tame data docket in European hours. Sentiment is expected to improve a bit but the outcome seems unlikely to generate much a response from the Euro as traders await Thursday’s ECB monetary policy announcement before committing to a firm directional bias. The annual World Economic Forum is also slated to begin in Davos, Switzerland. The gathering of global leaders in economics, politics, finance and business will almost certainly produce ample eye-catching headlines. A sense of confidence in near-term global growth dynamics may encourage “reach for yield” behavior from investors, which has recently translated into broad US Dollar weakness. Representatives from the US, Canada and Mexico will also launch the sixth round of talks in an effort to renegotiate the NAFTA free trade agreement. The Canadian Dollar took a hit last week after US officials expressed frustration with a lack of progress thus far. That may see markets responsive to soundbites coming from the sidelines of the gathering. The Japanese Yen edged higher following the BOJ monetary policy announcement . Governor Haruhiko Kuroda and company left the policy unchanged – pouring cold water on hopes for imminent stimulus reduction – but markets seemed to latch on to policymakers’ description of inflation expectations as “more or less unchanged” rather than “weakening” in the prior assessment. The Australian Dollar fell alongside local bond yields, hinting a dovish shift in RBA monetary policy expectations as the catalyst driving the selloff. The move also coincided with a steep drop in prices for iron ore , one of Australia’s top export commodities. Traders might have reckoned that this may foreshadow headwinds for overall economic growth, reducing scope for interest rate hikes. What are DailyFX analysts’ top trading ideas for 2018? Find out here ! Asia Session European Session ** All times listed in GMT . See the full DailyFX economic calendar here . --- Written by Ilya Spivak, Currency Strategist for DailyFX.com To receive Ilya's analysis directly via email, please SIGN UP HERE Contact and follow Ilya on Twitter: @IlyaSpivak DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Related Articles Previous Articles From euro open Related Prev Articles   Traders Urged to Respond to Proposed European Rule Changes   Euro May Shrug Off Soft PMI Data, Looking Ahead to ECB Meeting   AUD/USD Rally Approaching Initial Resistance Targets   AUD/USD Rate Rally Stalls Ahead of 2017-High; RSI Sell Signal on Tap   USD & JPY Get Haven Bids as Trump Protectionism Returns   Yen May Rise as US Government Shutdown Sours Market Mood   Euro May Ignore CPI Data, BOC Might Have Market-Wide Impact   Pound May Rise on UK CPI as Global Yield Reach Hurts US Dollar   Australian, New Zealand Dollars Buoyed by Rate Hike Speculation   US Dollar May Fall as CPI, Retail Sales Data Cool Fed Hike Bets Advertisement Upcoming Events Economic Event Importance Actual - Forecast - Previous Importance Actual - Forecast - Previous Forex Economic Calendar A:  Actual   F:  Forecast     P:  Previous NEWS Articles Real Time News Daily Briefings Forecasts DailyFX Authors TECHNICAL ANALYSIS Articles Analyst Picks Support & Resistance Pivot Points Sentiment CALENDAR Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar EDUCATION Forex Trading University Trading Guide DAILYFX PLUS RATES CHARTS RSS Past performance is no indication of future results. 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