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Forex News
August 32019
US Dollar Mixed After Fed Cut, Escalation of Tensions Between US & China
It was expected that the monetary policy decision of the Federal Reserve would be the major event this week. While the Fed had indeed a big impact on markets, ultimately it was overshadowed by new developments in the US-China trade conflict. The resulting risk aversion allowed the US dollar to rise against riskier commodity currencies but drove the greenback down versus safer currencies. The Fed cut interest rates by 25 basis […]
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June 282019
Australia’s Private Sector Credit Remains Stable, Aussie Pays Little Attention
The Australian dollar was either flat or lower versus its major rivals today as currencies were struggling to find directions ahead of the US-China trade talks on the weekend. Domestic macroeconomic data, which came out within expectations, was of limited interest to traders. The Reserve Bank of Australia reported that private sector credit rose 0.2% in May from the previous month, seasonally adjusted. It was the same rate of growth as in April. […]
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June 252019
Japanese Yen Strengthens on Leading Economic Index, Easing Signals
The Japanese yen is strengthening on Tuesday after new economic indexes climbed in April. This comes soon after the central bank signaled that it is willing to ease monetary policy if the economy warrants stimulus. Investors should also get a glimpse into the upcoming US-Japan trade negotiations as officials will meet with American trade representatives. In April, the Cabinet Officeâs coincident index inched higher to 102.1, up […]
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June 182019
US Dollar Gains on Majors, Soft vs. Commodity Currencies
The US dollar traded generally higher against other majors today, though fell versus commodity currencies, even the extremely vulnerable Australian dollar. The current trading session was very light on macroeconomic data, with housing starts and building permits being the only report released in the United States today, and traders wait for tomorrow’s monetary policy decision from the Federal Reserve to drive the market. The US Census Bureau reported that […]
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May 152019
Yen Rallies Against the Dollar on Weak US Retail Sales, Later Drops
The Japanese yen today rallied against the US dollar driven by the risk-off sentiment, which dominated markets from the early European session. The USD/JPY currency pair extended its losses in the early American session following the release of disappointing US retail sales report. The USD/JPY currency pair today fell from a high of 109.69 in the European session to a low of 109.13 in the early American session, but had recovered most of its losses at the time […]
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April 182019
Pound Falls Despite Upbeat UK Retail Sales, Extends Losses on US Data
The Sterling pound today fell against the US dollar despite the release of upbeat UK retail sales data in the early London session. The GBP/USD currency pair extended its losses following the release of positive retail sales data from the US docket in the early American session. The GBP/USD currency pair today fell from an Asian session high of 1.3053 to a low of 1.2992 and was in negative territory at the time of writing. The currency pair opened […]
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March 52019
Swiss Franc Loses Gains, Rising CPI Unable to Help
The Swiss franc attempted to rally during the Tuesday’s trading session on risk aversion caused by bad news from China. The Swissie failed to hold onto gains, though, and retreated against all other most-traded currencies by the end of the trading session. Positive domestic data was unable to support the currency. Switzerland’s Federal Statistical Office reported that the Consumer Price Index rose 0.4% in February from the previous month, matching market expectations […]
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March 52019
Canadian Dollar Weakens to Five-Week Low Ahead of BOC Decision
The Canadian dollar weakened to its lowest level against its American counterpart in five weeks. The multi-week low comes ahead of the central bank announcing its intentions on interest rates, and the worldâs second-largest economy potentially striking a blow to the slowing Canadian economy. The loonie was lifted by a modest bump in energy prices. On Wednesday, the Bank of Canada (BOC) is expected to leave its benchmark rate at 1.75%, after raising rates 125 basis […]
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March 52019
British Pound Declines on Brexit Cloud Amid Strong US ISM Data
The Sterling pound today fell against the US dollar despite the release of an upbeat fundamental print from the UK docket. The GBP/USD currency pair was weighed down by the looming Brexit deadline, which is just 24 days away with little sign of a deal being signed within the time left. The GBP/USD currency pair today rose to a high of 1.3198 in the early European session before falling to a low of 1.3098 in the American session […]
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March 52019
Euro Drops on Weak Chinese Data Despite Strong Eurozone PMIs
The euro today extended yesterday’s decline in the Asian session against a much stronger US dollar before rallying slightly in the early European session. However, the rally was not sustained as the pressure of weak Chinese growth forecasts weighed on the markets risk sentiment; the EUR/USD pair slid to new lows in the American session. The EUR/USD currency pair today traded mostly in a range marked by a high of 1.1338 and a low of 1.1314 before breaking lower in the US […]
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