• Forex – AUD/USD holds steady, kiwi slips lower in late trade

    The Australian dollar was little changed against its U.S. counterpart on Monday, while the New Zealand dollar slipped lower as expectations for U.S. rate hike in December continued to support the greenback, although fresh geopolitical tensions weighed. Trading volumes were expected to remain thin with U.S. markets closed for Columbus Day. AUD/USD held steady at […]

  • The EUR Comes to the Dollar’s Rescue Ahead of Tomorrow’s ECB Decision

    Macroeconomic data is on the lighter side for the day ahead, leaving the markets to consider the lie of the land ahead of tomorrow’s heavily anticipated ECB monetary policy decision and, more importantly, Draghi press conference, the ECB becoming the centre of attention, with the FED seemingly on a more dovish footing. The EUR rallied to […]

  • US Dollar Plummets Against Major Peers as Employment Data Misses Estimates

    The US dollar plummeted against the euro and the British pound on Thursday, following a number of disappointing economic data that further confirmed a slowdown in the US economic growth. The greenback declined despite marginally stronger business activity in the United States, which failed to cancel the negative effect of today’s economic releases. The ADP […]

  • Canadian Dollar Ends Week Strongest amid BoC Hike Speculations

    The Canadian dollar ended the week as the strongest major currency because the events during the week’s trading fueled speculations that the Bank of Canada will hike interest rates as soon as the next week. Markets considered the comments of BoC Governor Stephen Poloz as a sign that the central bank is ready to raise […]

  • It’s a Mill Pond of a Day leaving the Dollar on the Front Foot

    It’s another quiet start to the week, with material macroeconomic data this morning being limited to German’s May trade figures, which will leave the markets with little else to consider other than Friday’s data out of the U.S and what’s scheduled for release for the week ahead, though it’s not just going to be down […]

  • China has no intention of devaluing its currency: regulator

    BEIJING (Reuters) – China has no intention of devaluing its currency, the yuan , to boost its competitiveness, said the head of the country’s foreign exchange regulator. There is also no necessity for China to devalue its currency, Pan Gongsheng, head of the State Administration of Foreign Exchange, wrote in state magazine Qiu Shi. The […]

  • US Dollar Rallies Higher Against Peers on Positive Non-Farm Payrolls

    The US dollar today rallied higher against its main peers such as the euro, the British pound and the Japanese yen as the non-farm payrolls report beat expectations. The US dollar rallied higher against its peers today building on the momentum established yesterday after the release of positive ADP national employment report. The US Dollar Index, which tracks the greenback’s performance against a basket of its main peers, was trading above its opening price […]

  • Week Ahead – GDP out of US and UK in focus; Eurozone and Japan inflation due

    Growth data are due from two of the world’s largest economies – the United States and the United Kingdom. Japan will also be releasing a flurry of data. United States A slew of data are expected from the US next week. The Personal Consumption Expenditure (PCE) price index is one of the most important indicator as […]

  • Forex News – Oil back in bear market after latest sell-off; Commodity currencies fall only modestly

    Crude oil prices fell by 2% on Tuesday as investors continued to fret about the lingering oversupply, which is showing no sign of easing despite 6 months of output restrictions by major producers. The recovery in prices from the 2014-15 downtrend stalled in January when they peaked at 1½-year highs. WTI crude has since fallen […]

  • Sterling slides after Carney says now not the time for rate hike

    The pound came under pressure on Tuesday after the Bank of England Governor, Mark Carney, appeared to rule out a rate hike anytime soon. Speaking at a breakfast event in Mansion House, London, Carney struck a more cautious tone than the surprisingly hawkish language used at the Bank of England’s policy meeting last week. Markets […]