Forex News

Forex News

Event calendar


Oil intermarket: DXY and oil highly correlated Ross J Burland

Oil prices have collapsed today  amid doubts over OPEC's proposed output cut, after Iraq signaled it wants to be excluded from the pact.WTI was capped at $51.00 over the past number of trading sessions since last week and has made a fresh low of $49.73 today, penetrating the late May highs and moving into a string support area for the black gold. The 20 dma at 49.84 is located within this vicinity...

21:00 24 October /2016 Forex

Fed's Evans: Less headroom to hike rates Felipe Erazo

Chicago Fed's President Charles Evans crossed the wires from the University of Chicago, stating that inflation is "too low" and there is less headroom to raise rates.Key headlines (via Reuters):

21:00 24 October /2016 Forex

USD/JPY deeper rebound towards 108.00/50 on the cards - Scotiabank Ani Salama

  Strategists at Scotiabank noted that USD/JPY retains a short-term bullish bias. According to them, consecutive rejections of the 99.95/100 through the mid year period suggest that if the USD can extend gains through the low/mid 104 range, a deeper rebound ...

21:00 24 October /2016 Forex

ECB to extend QE to end-2017 - Commerzbank Ani Salama

  Christoph Weil, analyst at Commerzbank said that with core inflation likely to continue undershooting ECB projections, they expect the central bank to extend bond purchases to end-2017.Key Quotes“At the meeting on Thursday, the ECB Council discussed neither an expansion of its bond purchase programme nor an...

20:46 24 October /2016 Forex

USD/CAD challenges 1.3400 resistance area Ani Salama

USD/CAD has pushed higher on Monday and printed fresh 7-month highs as the loonie remains under pressure amid lower oil prices and dovish hints from the BoC.USD/CAD extended gains into a fourth consecutive day and hit its highest level since early March at...

20:46 24 October /2016 Forex

GBP/USD  retains weak undertone - Scotiabank Ani Salama

The pound’s modest stabilization following the flash crash drop does not appear sustainable, according to Scotiabank Strategists, and they think the market showed the first signs of resuming its bear trend last week as the GBP slipped under support in the upper 1.22s.Key Quotes“UK CBI indus...

20:23 24 October /2016 Forex

EU's Tusk: Thursday summit with Canada on trade deal is "still possible"

European Council's President Donald Tusk was on the wires last minutes, via Reuters, stating that Thursday summit with Canada on trade deal is "still possible" and encourages all parties to find a solution.

20:00 24 October /2016 Forex

SNB's Jordan: negative interest is necessary and appropriate for Switzerland

Speaking from the University of Basel, Swiss National Bank's Thomas Chairman Jordan stated that negative interest rates are appropriate for now. He also adds that Swiss inflation should "re-enter" positive territory in coming quarters.More headlines (via Reuters):

19:46 24 October /2016 Forex

NZD/USD fails to hold to gains and breaks below 0.7140

NZD/USD was unable to hold to gains and broke below the key short-term support located around 0.7140. The recovery from last week lows was short-lived and the kiwi remains under pressure. The pair climbed from 0.7140 and peaked at 0.7176 but then turned to the downside amid a rally of the US dollar in the market, particularly against commodity currencies. NZD/US...

19:23 24 October /2016 Forex

US 3Q GDP: Growth looks to have rebounded - Wells Fargo

According to analysts from Wells Fargo, Friday’s GDP numbers (3Q first estimate) will show a rebound in growth. They expect a reading of 2.2%, below market consensus of around 2.5%. Key Quotes: “After second quarter real GDP growth came in surprisingly below expectations, GDP growth looks to have rebounded in the third quarter. Consumer spending started off the quarter strong befo...

19:23 24 October /2016 Forex

GBP/USD fails to sustain gains, falls toward 1.2200 Ani Salama

GBP/USD pulled back from daily highs and slid back into negative ground for the day as the dollar, that continues to trade mixed across the board, strengthened aganst the pound during the New York session.GBP/USD found resistance after hitting a high of 1....

19:00 24 October /2016 Forex

Eurozone: Strong PMIs won’t stop an extension of the QE program - Danske Bank

Pernille Bomholdt Henneberg, Senior Analyst at Danske Bank points out that the preliminary Eurozone PMI numbers were strong but still the European Central Bank will extend the purchase program. Key Quotes: “The euro area PMI figures for October were strong, and in line with the latest signals they suggest that GDP growth in the euro ...

18:23 24 October /2016 Forex

USD/JPY hits 1-week highs, eyes 104.50 Matías Salord

The US dollar gained momentum across the board while the yen remained among the worst performers in the currency market. Greenback received a boost after the release of the preliminary US Manufacturing PMI that showed a rise from 51.5 to 53.2 in October. Also, Fed’s Bullard comments saying that he would support a November rate hike supported the Greenback. The yen remained weak amid rising stocks ...

18:23 24 October /2016 Forex

UK PM May: There will be a series of parliamentary debates on Brexit before and after Christmas

UK's Prime Minister Theresa May is crossing the wires, via Reuters, saying that is expected to hold be a series of parliamentary debates on Brexit, before and after Christmas.

18:00 24 October /2016 Forex

Gold sinks to lows near $1,260

After advancing to session highs above $1,270 in early trade, the ounce troy of the precious metal has deflated to daily lows near the $1,260 handle.Gold well supported around $1,250The metal keeps the choppy trade in recent sessions, although decent support seems to have emerged around monthly lows in the $1,250 region for the time being.Expectations of a rate hike by the Fed by ...

17:46 24 October /2016 Forex

EUR/USD sticks to gains near 1.0890 Pablo Piovano

The shared currency is clinging to the positive territory so far today, with EUR/USD meandering around 1.0880/90 as the US session is under way.EUR/USD still capped by 1.0900The pair keeps the daily upside momentum intact at the beginning of the week, looking to recover part of last week’s deep retracement and bounc...

17:23 24 October /2016 Forex

WTI under pressure near $50.20

Crude oil prices are giving away part of Friday’s advance, now taking the West Texas Intermediate back to the vicinity of the $50.00 mark per barrel.WTI focus on data, FedspeakPrices for the black gold are shedding nearly $2 after reaching fresh 2016 highs near the $52.00 mark during last week.Speculations on a probable deal regarding an output freeze at the Novem...

17:00 24 October /2016 Forex

Low rates to stay 2-3 years – FOMC’s J.Bullard Pablo Piovano

James Bullard, President of the Federal Reserve Bank of St. Louis, advocated for only one rate hike this year, although he declined to make any comments on the potential timing of the Fed’s move.According to Bullard’s view, the rate path should be flatter than that exposed by other members of the Committee. 

16:46 24 October /2016 Forex

EUR/USD keeps the negative outlook near term – Scotiabank

FX Strategists at Scotiabank have reiterated the negative stance for the pair in the short term.Key Quotes“EURUSD is modestly firmer on the day, supported by stronger than expected Eurozone services, manufacturing and composite PMI data in October”.“EZ-US 2Y rate spreads remain unchanged around 148bps, leaving the EUR little room to appreciate, however”.“16:23 24 October /2016 Forex

USD/JPY unable to consolidate above 104.00 Ani Salama

  USD/JPY made another attempt to climb above the 104 mark, but it was rejected at the beginning of the New York session.USD/JPY reached out a peak of 104.05 but failed to sustain gains and pulled back to the 103.90 area after data showed 16:23 24 October /2016 Forex