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  The Latest Forex News Live Today:

  • EU consumer confidence flash for July -13 vs -13.4 estimate

    Jul 23, 2024 | 07:10 am

    Prior month -14.0consumer confidence -13 versus -13.4 estimateThe confidence levels are moving higher (although still negative), and is also moving closer to the EU long term average (see chart above). This article was written by Greg Michalowski at www.forexlive.com.

  • Eurozone Consumer Confidence registered at -13 above expectations (-13.2) in July

    Jul 23, 2024 | 07:01 am

    Eurozone Consumer Confidence registered at -13 above expectations (-13.2) in July

  • United States Richmond Fed Manufacturing Index came in at -17, below expectations (-7) in July

    Jul 23, 2024 | 07:00 am

    United States Richmond Fed Manufacturing Index came in at -17, below expectations (-7) in July

  • US existing home sales for June 3.89M vs 4.00M estimate

    Jul 23, 2024 | 07:00 am

    . 1.32 million units Prior month 4.11Mexisting home sales -5.4% versus -0.7% last monthinventory at 4.1 months vs 3.7 months prior or 1.32 million unitsMedian price $426,900 which is up 4.1% from June 2023 (record high)These are closed sales when rates were above 7%Average days is 22 (down from 24 days) but up from 18 days last yearFirst-time buyers were responsible for 29% of sales in June, down from 31% in May but up from 27% in June 2023.All-cash sales accounted for 28% of transactions in June, unchanged from May and up from 26% one year agoIndividual investors or second-home buyers, who make up many cash sales, purchased 16% of homes in June, identical to May and down from 18% in June 2023.All four major US regions posted sales declines:Northeast:Sales: Decreased 2.1% from May to an annual rate of 470,000, down 6% from June 2023.Median Price: $521,500, up 9.7% from one year earlier.Midwest:Sales: Decreased 8% from May to an annual rate of 920,000, down 6.1% from June 2023.Median Price: $327,100, up 5.5% from June 2023.South:Sales: Decreased 5.9% from May to an annual rate of 1.76 million, down 6.9% from June 2023.Median Price: $373,000, up 1.7% from last year.West:Sales: Decreased 2.6% from May to an annual rate of 740,000, unchanged from a year ago.Median Price: $629,800, up 3.5% from June 2023.Houses are sitting, but inventory is increasing too:Other housing data from the NAR on sales: This article was written by Greg Michalowski at www.forexlive.com.

  • United States Existing Home Sales (MoM) below forecasts (3.99M) in June: Actual (3.89M)

    Jul 23, 2024 | 07:00 am

    United States Existing Home Sales (MoM) below forecasts (3.99M) in June: Actual (3.89M)

  • United States Existing Home Sales Change (MoM) dipped from previous -0.7% to -5.4% in June

    Jul 23, 2024 | 07:00 am

    United States Existing Home Sales Change (MoM) dipped from previous -0.7% to -5.4% in June

  • Richmond Fed July manufacturing index -17 vs. -7 expected

    Jul 23, 2024 | 06:59 am

    Manufacturing index -17 vs. -7 expected and -10 prior.Services index 5 vs. -11 prior.Manufacturing shipments index -21 vs. -9 prior.Fifth District manufacturing activity worsened in July, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased from −10 in June to −17 in July. Of its three component indexes, shipments fell notably from −9 to −21, new orders decreased from −16 to −23, and employment edged down from −2 to −5. Firms grew less optimistic about local business conditions, as the index fell from −13 to −21. The index for future local business conditions edged down from 9 to 7 in July. The future indexes for shipments and new orders remained solidly in positive territory, suggesting that firms continued to expect improvements in these areas over the next six months.The vendor lead time index increased into slightly positive territory for only the second time in two years. Firms continued to report declining backlogs in July as that index remained negative.The average growth rate of prices paid and prices received decreased in July. Firms expected little change in price growth over the next 12 months. This article was written by Giuseppe Dellamotta at www.forexlive.com.

  • Prices of base metals down due to demand concerns and increase in supply – Commerzbank

    Jul 23, 2024 | 06:53 am

    Base metal prices fell significantly across the board last week and are now all trading at multi-month lows, Commarzbank’s commodity strategist Carsten Fritsch notes.

  • Modest changes in the major indices at the the US open

    Jul 23, 2024 | 06:35 am

    The US stocks are open and the major indices are modest the lower/higher. A snapshot of the market currently shows: Dow Industrial Average average -56 points or -0.15% at 40352S&P index -4.42 points or -0.07% at 5560.30nanoseconds -36 points or -0.20% at 17971The RUSSELL 2000 is down -12.08 points are -0.54% at 2208.51After the close both Alphabet and Tessa will report their earnings. Alphabet shares are currently up 0.27%. Tesla shares her up 0.70%.In the US debt market, yields are lower by a basis point or two:2-year yield 4.512%, -1.0 basis points5-year 4.166%, -1.3 basis points10 year yield 4.246%, -1.3 basis points30-year yield 4.471%, -0.7 basis pointsLooking at other markets: Crude oil is down once again. The price is down - $0.96 or -1.23% at $77.52.Gold is up $5.64 or 0.24% at 2401.84Silver is down $0.15 or -0.52% at $28.94 Bitcoin is a lower trading at $66,600. The low price reached $66,122 and a high price reached $67,776 This article was written by Greg Michalowski at www.forexlive.com.

  • Gold price gains as US yields slumps amid firm Fed rate-cut bets

    Jul 23, 2024 | 06:34 am

    Gold price (XAU/USD) gains ground near the round-level resistance of $2,400 in Tuesday’s North American session.

  • Reuters Poll: 70 of 100 economists see a rate cut in September

    Jul 23, 2024 | 06:10 am

    Reuters Poll Summary:70 of 100 economists anticipate a 25 basis points cut in the federal funds rate in both September and December, compared to 58 of 116 in June.73 of 100 economists expect the Federal Reserve to cut rates by 50 basis points in 2024. 13 say 25 bps in 2024. 3 see no cuts in 2024 This article was written by Greg Michalowski at www.forexlive.com.

  • USD/JPY slides further to 156.00 on firm BoJ rate-hike bets

    Jul 23, 2024 | 06:08 am

    The USD/JPY pair tumbles to near 156.00 in Tuesday’s American session.

  • United States Redbook Index (YoY) rose from previous 4.8% to 4.9% in July 19

    Jul 23, 2024 | 05:55 am

    United States Redbook Index (YoY) rose from previous 4.8% to 4.9% in July 19

  • Philadelphia Fed nonmanufacturing business outlook for July -10.0 versus +15.1 in June

    Jul 23, 2024 | 05:36 am

    The Philadelphia Fed nonmanufacturing activity in the region declined in July, as reported by the firms in the Nonmanufacturing Business Outlook Survey. Key indicators such as general activity at the firm level, new orders, and sales/revenues turned negative. The full-time employment index also suggested a decline in employment. Both price indexes showed continued overall price increases, remaining near non-recession averages. Despite the decline, firms still expect growth over the next six months, though these expectations are less widespread.Below is a summary of the data:The diffusion index for current general activity at the firm level turned negative, dropping from 15.1 in June to -10.0, the lowest since April 2023.31% of firms reported decreases, 21% reported increases, and 44% reported no change in activity.The new orders index turned negative, falling from 6.7 to -7.1, with 22% of firms reporting decreases and 15% reporting increases.The sales/revenues index fell 18 points to -3.5, with 25% of firms reporting decreases and 22% reporting increases.The regional activity index dropped 22 points to -19.1, the lowest reading since December 2020.Employment details:Firms reported a decrease in full-time employment, with the full-time employment index falling 20 points to -4.9, its first negative reading since June 2023.19% of firms reported decreases in full-time employment, 14% reported increases, and 66% reported no change.The part-time employment index declined from 13.1 to 4.0.63% of firms reported steady part-time employment, 15% reported increases, and 11% reported decreases.Prices details were mixed with prices paid higher but prices received lower:Price indicator readings suggest continued increases in input prices and prices for firms' own goods and services.Both price indexes were near their long-run averages.The prices paid index rose 6 points to 30.2.32% of respondents reported higher input prices, 2% reported decreases, and 59% reported no change.The prices received index declined from 16.6 to 13.9.23% of firms reported increases in their own prices, 9% reported decreases, and 59% reported no change.In special questions this month, firms were asked about changes in wages and compensation over the past three months, as well as their expected changes to various input and labor costs for 2024.Almost 30% of firms reported increased wages and compensation in the past three months, 68% reported no change, and 2% reported decreases.60% of firms reported not adjusting their 2024 budgets for wages and compensation since the start of the year.18% of firms are planning to increase wages and compensation more than originally planned.16% of firms are planning to increase wages and compensation sooner than originally planned.Firms expect higher costs across most expense categories in 2024.Median expected increases were in line with or slightly lower than expectations when last asked in April.Firms expect somewhat lower increases in costs for wages, intermediate goods, and nonhealth benefits compared to April.Expectations for increases in total compensation (wages plus benefits) costs remained at a median of 4 to 5%. This article was written by Greg Michalowski at www.forexlive.com.

  • Existing home sales and Richmond Fed on the calendar today

    Jul 23, 2024 | 05:32 am

    On the economic calendar today: EU Consumer confidence flash estimate for July (10 AM ET): Estimate -13.4 versus -14.0 last month.Existing home sales for June (10 AM ET): Est. 4.00M vs 4.11M last month.Richmond Fed index for July (10 AM ET): Last month -10. Services index -11 last monthThe U.S. Treasury will auction the 2-year note at 1 PM ET. At 4;30, the private inventory data for oil will be released at 4:30 PM. After the close,earnings will be highlighted by Tesla and Alphabet:Tesla (TSLA)Alphabet (GOOGL)Enphase (ENPH)Visa (V)Texas Instruments (TXN)Chubb (CB)Seagate (STX)Capital One (COF) This article was written by Greg Michalowski at www.forexlive.com.

  • Pound Sterling remains on defensive ahead of preliminary UK/US PMI

    Jul 23, 2024 | 05:24 am

    The Pound Sterling (GBP) continues to hold the key support level of 1.2700 against the US Dollar (USD) in Tuesday’s New York session.

  • EUR/USD: Falls to 1.0860 during the European session – BBH

    Jul 23, 2024 | 04:59 am

    Encouraging Eurozone disinflationary process leaves the ECB room to cut the policy rate again in September which remains a headwind for the Euro (EUR), BBH analysts note.

  • BRL: Fiscal policy remains a burden – Commerzbank

    Jul 23, 2024 | 04:53 am

    The Brazilian real has been on a rollercoaster ride in recent weeks, Commerzbank FX analyst Michael Pfister notes.

  • HUF: NBH tempted to cut rates again – ING

    Jul 23, 2024 | 04:46 am

    Today's meeting of the National Bank of Hungary (NBH) is the main event of the week in the CEE region.

  • TRY: No change on the cards – Commerzbank

    Jul 23, 2024 | 04:40 am

    It is unanimously expected that Turkey’s central bank (CBT) will leave its base rate unchanged at 50.0% at today’s meeting.

  • Forexlive European FX news wrap 23 July - The US Dollar remains in the driver’s seat

    Jul 23, 2024 | 04:29 am

    Silver hangs on at the June lows for nowDollar keeps on firmer footing following last week's advanceAUD/USD looks poised for longest losing streak since August last yearJapanese yen continues to find bids in the early stages this weekEuropean equities open in a more mixed mood to start the dayWhat are the main events for today?ECB's de Guindos: September is a much more convenient month for taking decisionsEurostoxx futures +0.2% in early European tradingUSD/JPY remains heavy to start the weekThe European session was empty on the data front. The highlight continues to be the US Dollar as the greenback has been gaining ground against the major currencies since last Wednesday. It’s not clear what is behind the move. The data continues to point to a resilient economy with inflation falling slowly back to target. That should see the Fed cutting rates at least two times this year. On the other hand, Trump is looking more and more like a potential winner and his policies are seen as inflationary, which could see the Fed eventually going even more slowly on rate cuts. In other markets, the US and European stocks continue to rally, while the Chinese stocks remain under pressure. Treasury yields are down on the day while Gold is up. Crude oil has been under sustained strain since last week and that could fit with Trump’s presidency narrative due to higher supply expectations.Bitcoin has been stuck in a consolidation around a key resistance since last Friday, but a Trump’s presidency should be a strong bullish driver for the cryptocurrency (all else being equal). This article was written by Giuseppe Dellamotta at www.forexlive.com.

  • Silver hangs on at the June lows for now

    Jul 23, 2024 | 04:19 am

    Despite the sharp fall since last week, silver is still hanging in there in July trading. On the month itself, the precious metal is now down by 0.3% after erasing its monthly gains in the last five trading days. Price is now currently trading around $29.05, down 0.4% on the day. Still, buyers are not completely down for the count just yet.The low today hit $28.67 and that calls into question the June lows at the $28.57-65 region. For now, that is still largely holding but a break below that will be a massive blow to the upside momentum since March.We've already cut back on half of the gains since the surge higher in May and a break below the supportive region above will draw more interest from other key support levels.The 61.8 Fib retracement level at $28.50 is one to watch, alongside the 100-day moving average (red line) at $28.35 currently.A technical break below the latter especially will give sellers more momentum to drive a deeper correction in silver next.As things stand, commodity metals haven't been enjoying a good month from a technical perspective. Copper is also one that is breaking down further ahead of what is typically its worst seasonal performance in August. This article was written by Justin Low at www.forexlive.com.

  • Pound Sterling Price News and Forecast: GBP/USD extends sideways grind above 1.2900 [Video]

    Jul 23, 2024 | 04:03 am

    Following the sharp drop seen in the second half of the previous week, GBP/USD registered small gains on Monday.

  • EUR: Stalling recovery? – ING

    Jul 23, 2024 | 04:02 am

    The story this week in the eurozone could be soft survey data that supports the ECB's contention that short-term economic risks lie to the downside.

  • USD: Equity recovery is keeping volatility low – ING

    Jul 23, 2024 | 03:54 am

    Away from US politics, FX markets remain very subdued. Volatility is low and the temptation will be to rotate back into carry even if there are risks associated with the preferred funding currency (Japanese Yen) or the preferred target currency (Mexican Peso), ING’s FX strategist Chris Turner notes.

  • HUF: It's all about the nuances – Commerzbank

    Jul 23, 2024 | 03:47 am

    In addition to the general development linked to its high beta with euro movements, today's interest rate decision by the Hungarian central bank (MNB) is also of interest for the Forint.

  • Sometimes the devil is in the details – Commerzbank

    Jul 23, 2024 | 03:35 am

    A look at the data shows that in the UK most of the disinflation in the core rate over the past year has come from goods prices.

  • Dollar keeps on firmer footing following last week's advance

    Jul 23, 2024 | 03:26 am

    The Japanese yen is on its own at the front to start the week but the dollar is also seen holding slightly firmer now as after a short period of consolidation since Friday. Both EUR/USD and GBP/USD are down 0.3% to 1.0860 and 1.2895 respectively, touching their lowest levels since 11 July. The latter looks on course for a further retracement after buyers attempted and failed at their latest attempt to hold a break above 1.3000:The 38.2 Fib retracement level at 1.2879 is the next minor support level to watch, before the 50.0 Fib retracement level at 1.2828 comes in.The dollar's slight nudge higher today comes despite yields keeping lower and equities holding a more tentative mood. US futures are flattish mostly now, with tech shares in focus awaiting earnings from Alphabet and Tesla after the close.It's a bit of a tough one to get a real grasp on the flows in the last few days. USD/JPY is still down 0.6% at 156.05 but the dollar is up elsewhere with AUD/USD and NZD/USD both also down 0.3% to 0.6620 and 0.5960 respectively currently.It is not quite a quiet summer but it is one that is still tough to sort of the flows, at least for now. But as always, the best we can do is to at least look at the technicals and manage our approach from there. This article was written by Justin Low at www.forexlive.com.

  • AUD/USD dives further to near 0.6600 on China’s fragile economic outlook

    Jul 23, 2024 | 03:15 am

    The AUD/USD pair extends its losing spell for the seventh trading session on Tuesday.

  • China SMEI: Marginal improvement in July – Standard Chartered

    Jul 23, 2024 | 02:51 am

    Headline SMEI rebounded to 50.4 in July thanks to a recovery in expectations and credit conditions.

  • USD/CNH: Trades in a wide range of 7.2600/7.3100– UOB Group

    Jul 23, 2024 | 02:31 am

    The US Dollar (USD) is still trading in a 7.2600/7.3100 range, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.

  • Silver price today: Silver falls, according to FXStreet data

    Jul 23, 2024 | 02:28 am

    Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data.

  • AUD/USD looks poised for longest losing streak since August last year

    Jul 23, 2024 | 02:26 am

    After having hit its highest since the opening day in January, the pair has seen quite a pullback in the last week. The drop after nearly touching the 0.6800 mark now sees the pair down 2.5% from its high on 11 July. And the pair looks poised for a seventh straight day of losses now:Despite stocks faring better yesterday to start the week, there was no reprieve for the aussie. The dollar is keeping in good stead and that now sees the pair return lower targeting a couple of key support levels.Of note, the 28 June low at 0.6619 is within touching distance but keen eyes will be on the 100-day moving average (red line) at 0.6607 instead. That alongside the 200-day moving average (blue line) at 0.6583 are the big ones to watch out for.The latter also rests near the 50.0 Fib retracement level of the swing higher since April, seen at 0.6580. That sets out a key supportive region for AUD/USD in the coming days to see if buyers can hold their ground.A break below that region will see sellers resume the downside pressure in the pair, looking to 0.6500 next once more.Looking to the rest of the week, there will be a couple of key drivers worth taking note of. The first being the movement in the Chinese yuan, which indirectly impacts the aussie.Then, there's also the overall risk mood as stocks look to find some footing after last week's selloff. Earnings releases from Alphabet and Tesla after the close today will be key risk events to be mindful of in that regard.And lastly, the dollar side of the equation will also factor into the picture. That comes as we will have some key data from the US, including PMI data tomorrow, Q2 GDP on Thursday, and the PCE price index on Friday. This article was written by Justin Low at www.forexlive.com.

  • NZD/USD: Likely to test 0.5940 in short-term – UOB Group

    Jul 23, 2024 | 02:26 am

    As long as 0.6005 is not breached, the New Zealand Dollar (NZD) could decline further.

  • Indian Rupee weakens after FM Sitharaman hikes Capital Gains tax

    Jul 23, 2024 | 02:06 am

    The Indian Rupee weakens to near 83.70 against the US Dollar (USD) in Tuesday’s European session.

  • AUD/USD: Set to test 0.6620 in very short-term – UOB Group

    Jul 23, 2024 | 02:02 am

    Weakness in Australian Dollar (AUD) could extend to 0.6620 before stabilisation can be expected; major support at 0.6590 is unlikely to come under threat.

  • GBP/USD: To test 1.2905 in short-term – UOB Group

    Jul 23, 2024 | 01:59 am

    The Pound Sterling (GBP) is expected to consolidate in a range of 1.2905/1.2955, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.

  • EUR/USD stays below 1.0900 ahead of Eurozone Consumer Confidence

    Jul 23, 2024 | 01:52 am

    EUR/USD retraces its recent gains, trading around 1.0870 during the European session on Tuesday.

  • EUR/USD: Set to trade between 1.0845 and 1.0945 – UOB Group

    Jul 23, 2024 | 01:40 am

    Euro (EUR) strength has ended; for the time being, it is likely to trade in a range between 1.0845 and 1.0945, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.

  • The Coca-Cola Company (KO) Elliott Wave technical analysis [Video]

    Jul 23, 2024 | 01:28 am

    Mode: Impulsive. Structure: Motive. Position: Wave 5. Direction: Top in wave 5.

  • USD/MXN appreciates to near 18.00 as US Dollar gains ground due to a risk-off mood

    Jul 23, 2024 | 01:05 am

    USD/MXN edges higher to near 18.00 during the European session on Tuesday.

  • Japanese yen continues to find bids in the early stages this week

    Jul 23, 2024 | 00:59 am

    Amid a lack of events on the economic calendar, the Japanese yen has been a decent mover to start the week thus far. After the gains yesterday, we are seeing a further advance today with USD/JPY now down 0.6% to near 156.00 on the day. AUD/JPY in particular is suffering the most, down another 1% as it erases its gains from June and then some now:There's not much of a major catalyst driving the yen gains this month. But the run comes after Japan intervened two weeks ago, resulting in a technical breakdown in USD/JPY of this particular trendline at the time as well.The bond market may be what some traders can point to earlier this month but it hasn't quite been the case in the past few days. 10-year yields in the US may be down today but are seen at 4.24%, faring much better from the low near 4.14% last week.As the retracement in the yen continues to run for now, these are some levels to watch for USD/JPY. This article was written by Justin Low at www.forexlive.com.

  • European equities open in a more mixed mood to start the day

    Jul 23, 2024 | 00:09 am

    Eurostoxx +0.3%Germany DAX +0.5%France CAC 40 -0.1%UK FTSE -0.3%Spain IBEX flatItaly FTSE MIB +0.3%This comes as US futures are seen down slightly at the balance as well. S&P 500 futures are lower by 0.2% with Nasdaq futures down by 0.3% currently. That is not making much for traders to work with as the session gets going. The dollar remains steadier overall, down slightly against the yen but up slightly against the antipodeans - similar to yesterday. This article was written by Justin Low at www.forexlive.com.

  • Forex Today: Indian Rupee Retreats From Low - 23 July 2024

    Jul 22, 2024 | 23:57 pm

    Indian Rupee Gains After Flirting With Record Low; US Dollar Continues To Sit Below Resistance; VP Harris Favourite for Dem Nomination, Trump Favourite for Election; Stocks Rise Yesterday

  • What are the main events for today?

    Jul 22, 2024 | 23:42 pm

    If yesterday was a boring day on the data front, today is no different. We don't have any notable event as we will just get some low tier releases like the Eurozone Consumer Confidence and the Richmond Fed Index.As a reminder, we won't hear from Fed speakers until the FOMC meeting next week as they are in their blackout period. On the other hand, ECB speakers are in full swing but they will keep on repeating the same thing, that is they might cut in September if the data cooperates. Wish you a profitable day! This article was written by Giuseppe Dellamotta at www.forexlive.com.

  • Eurostoxx futures +0.2% in early European trading

    Jul 22, 2024 | 23:03 pm

    German DAX futures +0.3%French CAC 40 futures flatUK FTSE futures -0.3%US futures are a touch lower though, with S&P 500 futures down 0.2% and Nasdaq futures down 0.3%. That is making for more of a pensive start to European morning trade. This article was written by Justin Low at www.forexlive.com.

  • USD/JPY remains heavy to start the week

    Jul 22, 2024 | 21:09 pm

    The retreat comes again as we get to the handover from Asia to Europe, somewhat similar to yesterday. Sellers are staying interested with price action keeping below the broken trendline support (white line) as seen below:The 100-day moving average (red line) at 155.31 currently will be a key downside target to watch.Looking at the near-term chart, we can see how sellers are also dictating the state of play at the moment:The bounce last week was thwarted by sellers leaning on the broken trendline support, now acting as a key resistance line. After, they have been holding price action just below the 100-hour moving average (red line). And that suggests a more bearish near-term bias in the pair, at least for now.The low last week at 155.50 will be the next layer to chew through before getting to the 100-day moving average as noted above.There's not much of a catalyst driving the move lower in USD/JPY to start the new week. Treasury yields were down slightly yesterday but recovered to push higher, though 10-year yields are back down by 2.3 bps to 4.236% now.It looks to be just some yen buying flows as dip buyers have lost some of their luster after the recent Japan intervention. This article was written by Justin Low at www.forexlive.com.

  • Another bare calendar day beckons in Europe in the session ahead

    Jul 22, 2024 | 20:40 pm

    It hasn't been a quiet summer for markets so far but the start of this week sort of embodies the typical summer lull that we have been accustomed to over the years. And we have an empty calendar day, more or less, to thank for that. Similar to yesterday, there won't be any major releases of note in European trading.And that will likely make for a slower session overall in the day ahead.Equities were a big mover in Wall Street yesterday, with tech shares bouncing back after the poor run in the second half of last week. But we do have key earnings releases from Alphabet and Tesla after the close today. So, just be wary of that.Besides that, the shove lower in USD/JPY yesterday is still largely holding while the antipodeans remain on the softer side amid a weaker yuan this week. Other major currencies aren't offering too much so far but things should pick up in the days ahead at least.PMI data will come into focus tomorrow alongside the BOC policy decision, before we move on to US Q2 GDP and weekly jobless claims on Thursday. We'll then round things off with the US PCE price index on Friday. This article was written by Justin Low at www.forexlive.com.

  • European Central Bank chief economist Lane speaks on fiscal & monetary policy Tuesday

    Jul 22, 2024 | 20:30 pm

    0700 GMT / 0300 US Eastern time, European Central Bank chief economist and board member Philip Lane will be giving opening remarks at a joint conference of the European Central Bank, International Monetary Fund, and IMF Economic Review "Global Challenges and Channels for Fiscal and Monetary Policy" in Frankfurt, Germany This article was written by Eamonn Sheridan at www.forexlive.com.

  • ForexLive Asia-Pacific FX news wrap: USD/JPY lower

    Jul 22, 2024 | 19:57 pm

    China's loan collateral tweak will ease 'asset famine'US Q2 GDP data is due Thursday - Goldman Sachs expect +2.3%The AUD and the easing from China - given more a nudge lowerUS Vice President Harris has just passed 1,976 Delegates.PBOC sets USD/ CNY central rate at 7.1334 (vs. estimate at 7.2746)Deutsche Bank expect further losses still to come for large cap tech stocksWestpac on AUD/USD - look to dips into the 0.6625-35 zone as buying opportunitiesAustralian Consumer Confidence Index, weekly survey, hits its highest in 6 monthsSouth Korean June PPI +2.5% y/y, seventh straight month of higherJP Morgan is Leaning Towards a Hold at This Week's BoC MeetingJapan senior government member says BOJ policy should be made clearerMacquarie analysts reiterate that "Trump 2.0 will be a more inflationary policy regime"A warning not to get too complacent on politics from PIMCO: Still 3.5 months to go!"Watch the EUR data this week for ECB implicationsVice President Harris speaking - presenting policy positionUBS says PBOC 0.1% rate cut on Monday maybe just a 'down payment' on more to comeUS SEC approves first spot ether ETFs to start trading Tuesday (July 23, 2024)Forexlive Americas FX news wrap 22 Jul: Markets digest the Biden exit & Harris entranceTD on gold, wary of downside risks from many directions, including an "Asian buyer strike"Analyst says the "forces underway for inflation to fall like a rock are in place"The closing bell rings and the tech sector/small cap stocks lead the way in tandemTrade ideas thread - Tuesday, 23 July, insightful charts, technical analysis, ideas News and data flow was fairly light. A data point that pretty much goes by unnoticed each week is the ANZ-Roy Morgan Australian Consumer Confidence weekly survey. To be fair it went by unnoticed again today, but it was interesting. It jumped to its highest in six months, with that jump being the biggest since April 2021. Cited as reasons include: the boost to households from tax cuts and a further boost yet to come from various ‘cost of living’ support measuresAUD (and NZD) remained heavy on the session. AUD is barely off its recent low while NZD/USD dipped to it lowest since May. On the fluid US politics front, the news was that Vice President Harris has secured enough delegates, more than 1,976, to now be the Democratic Party’s Presumptive Nominee for November’s Presidential Election. While the formalities of a vote are yet to take place, these are, well, formalities. What it means for markets is a measure of certainty in the race, locking in Harris v. Trump. USD/JPY was the only real mover. Its dropped 50 or so points from its session high without any news nor data catalyst. The only thing we really got was, Toshimitsu Motegi, the Secretary-General of Japan's ruling party Liberal Democratic Party (LDP), saying he thinks Bank of Japan policy should be made clearer. Hard to read too much into that. This article was written by Eamonn Sheridan at www.forexlive.com.

  • US Q2 GDP data is due Thursday - Goldman Sachs expect +2.3%

    Jul 22, 2024 | 19:03 pm

    Goldman Sachs have been concerned about the US economy drifting along in H1 but have been encouraged by recent retail sales and industrial production data. GS now expect Q2 GDP growth at 2.3% (annualised)“Our estimate implies that GDP grew at a 1.9% annualized pace in 2024H1 and domestic final sales grew at a 2.3% pace, easily beating gloomy consensus expectations at the start of the year and falling only a touch short of our own initial forecast” Goldman forecasts consumer spending is set to grow by about 1.8% in the first half of 2024, only slightly below the year's initial forecast. Investment, including residential, business, and inventory investment, exceeded expectations, although housing activity slowed in Q2 following a Q1 surge prompted by lower mortgage rates. Net exports fell short due to ongoing weaknesses in goods exportsFurther out, GS expect:2.6 %GDP growth in Q3 20242.4% in Q4 2024 This article was written by Eamonn Sheridan at www.forexlive.com.

  • The AUD and the easing from China - given more a nudge lower

    Jul 22, 2024 | 18:40 pm

    The Australian and New Zealand dollars have been on the soft side. Yesterday's easings from the People's Bank of China not bolstering them either. The summary of the PBOC is here ICYMI:ForexLive Asia-Pacific FX news wrap: A series of easings from the People's Bank of ChinaNAB comments via Reuters report:"For the Aussie and the kiwi, they tend to be reflecting a more liquid and free expression in terms of the realities currently facing the Chinese economy," said Rodrigo Catril, senior FX strategist at National Australia Bank (NAB). "The easing coming from the PBOC yesterday is not huge in terms of magnitude, but it does signal that willingness for the PBOC to support the economy alongside the fiscal side, and that probably plays to the view that there will be some tolerance for a little bit of weakness in CNY." And, as an aside, on politics:"I think certainly the U.S. politics, as we get closer to the November election, will become a greater source of volatility for markets," said NAB's Catril. "There's still a lot of water to go through in terms of what the candidates have to offer and also how the polling may change as well. And then of course, getting a bit more clarity in terms of what the key policies will be and priorities will be, will be very important for markets." In cryptocurrencies, bitcoin fellMeanwhile, Commonwealth Bank of Australia more forthright in the expression disappointment:"AUD/USD ... lower following the People’s Bank of China’s unexpected decision to reduce its key policy interest rate. The interest rate cut and the outcomes of the Third Plenum are too modest to convince market participants of a significant acceleration in the Chinese economy is in prospect" ---We probably shouldn't;t be too disappointed with the tiny cuts from the People's Bank of China, we should probably be accustomed to such restrained actions by now. But still more would be nice. UBS earlier:UBS says PBOC 0.1% rate cut on Monday maybe just a 'down payment' on more to comeAUD, and NZD, have been heavy since later last week This article was written by Eamonn Sheridan at www.forexlive.com.

  • US Vice President Harris has just passed 1,976 Delegates.

    Jul 22, 2024 | 18:23 pm

    Media reports that US Vice President Harris has just passed 1,976 Delegates.That's a magic number, it means she is the Democratic Party’s Presumptive Nominee for November’s Presidential Election. The formalities of a vote are yet to take place of course, but with that number of delegates she appears to have it locked in. This article was written by Eamonn Sheridan at www.forexlive.com.

  • Deutsche Bank expect further losses still to come for large cap tech stocks

    Jul 22, 2024 | 17:44 pm

    Via CNBC, thoughts from Deutsche Bank on further losses still to come for large cap tech stocks:rotation away from big tech into small caps that happened will be more than a short-term blipmarket is still pricing in too much optimism about the growth areas of the market that have led most of the bull rally overall equity positioning remains elevatedsharp rotations in positioning and flows away from (megacap growth) and tech and into other sectors and small caps, these have plenty of legs to run medium term. "MCG & Tech positioning is still aligned with a continuation of extremely strong earnings growth and upgrades while we see a slowing as growth catches back down to the trend rate in place for the last 2 decades" This article was written by Eamonn Sheridan at www.forexlive.com.

  • PBOC is expected to set the USD/CNY reference rate at 7.2746 – Reuters estimate

    Jul 22, 2024 | 17:19 pm

    People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value. This article was written by Eamonn Sheridan at www.forexlive.com.

  • Westpac on AUD/USD - look to dips into the 0.6625-35 zone as buying opportunities

    Jul 22, 2024 | 17:07 pm

    A snippet from WPAC on the Australian dollar, in brief for the week ahead:AUD might find support from a likely very benign US June PCE this week, reinforcing September Fed rate cut pricing, while Biden dropping out of the US presidential race likely stymies the rush to bullish-USD Trump trades for the time being. But the coast is not completely clear for AUD either - the tech sector rotation is creating ongoing upheaval, while China's Plenum contained very little for markets beyond fiscal reform and the known ongoing transition to new growth sources. Once again there are no "all-out" stimulus plans.look to dips into the 0.6625-35 zone as buying opportunities This article was written by Eamonn Sheridan at www.forexlive.com.

  • AUD slide continues as China worries elevated

    Jul 22, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar underperformed through trade on Monday, sliding below US$0.6650 amid China worries and a stronger US dollar. Market reaction to Joe Biden’s withdrawal from the 2024 Presidential Election race was largely muted as pundits and markets appear confident in continuing to price a Trump victory come November. Instead, markets looked to China’s 3rd Plenum, a major policy meeting supposed to set out an agenda for growth and prosperity through the next 5 years. Investors were left wanting as officials failed to offer any new policy platforms to correct the slide in the property market and rebuild the economy. With concerns China’s economy will fail to recapture historical growth levels, demand for commodities slipped and the AUD broke below US$0.6650, marking lows at US$0.6632 before finding support. Having kissed US$0.68 earlier in the month, the AUD suffered a sharp sell-off through trade last week and finds itself on the back foot amid a sudden risk-off shift and correction across key industrial commodities. With little of note on today’s domestic docket, our attentions turn to European and US service and manufacturing PMI data Wednesday and the Bank of Canada policy meeting Thursday as key markers for direction, ahead of US GDP Friday. Key Movers Market reaction to Joe Biden’s withdrawal from the 2024 Presidential Election race was largely muted through trade on Monday and most majors traded within a narrow trading handle. With leading Democrats calling for Biden’s withdrawal growing through the last 3 weeks, it seems markets were prepared for the inevitable and pricing for a Trump victory in November was little changed. US treasury yields rose amid elevated risk aversion while the euro and GBP edged marginally lower on the day. The Japanese yen was the day’s big winner, buoyed by the risk-off mood and growing calls for the Bank of Japan to lift rates next week. Weakness in Japanese consumer spending will likely weigh on policymakers and a Bloomberg report showed officials are divided on whether a rate hike is appropriate. With markets expecting a shift in policy, we expect plenty of volatility this week, particularly against key crosses like the AUD and NZD. Expected RangesAUD/USD: 0.6600 - 0.6700 ▼AUD/EUR: 0.6050 - 0.6150 ▼GBP/AUD: 1.9250 - 1.9550 ▲AUD/NZD: 1.1020 - 1.1120 ▼AUD/CAD: 0.9100 - 0.9200 ▼

  • Forex Today: Indian Rupee Threatens Breakdown to Record Low

    Jul 21, 2024 | 23:31 pm

    Indian Rupee Makes Record Low Close Against USD; US President Biden Announces Withdrawing From Race, Endorses VP Harris; US Dollar Fails to Rise After Testing Resistance Zone at 103.92; US Stocks Edge Higher

  • Aussie dollar falls below US$0.67

    Jul 21, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback, currently trading at 0.6670 at time of writing. The Australian dollar saw considerable losses against the Greenback on Friday, falling below 0.6700. This slump in the AUD/USD exchange rate is mostly due to the strengthening of the US dollar amid increased aversion to risk. Commodity prices are affecting the Aussie dollar with Iron ore prices plunging 1.70%, extending their losses for the last two weeks to more than 3.70%. On the data front, last week the seasonally adjusted unemployment rate in Australia increased by less than 0.1 percentage point to 4.1% in June, fresh figures from ABS showed. With employment rising by around 50,000 people and the number of unemployed growing by 10,000 people, the unemployment rate rose slightly to 4.1%, and the participation rate rose to 66.9%. The participation rate in June was 66.9%, just 0.1 percentage point below the historical high of 67% in November 2023. Looking ahead this week and on Wednesday we will see the Flash manufacturers Purchasing Managers' Index (PMI). It's a leading indicator of economic health because businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. All eyes will be on next Wednesday's Consumer Price Index (CPI). Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Key Movers US President Joe Biden has ended his bid for re-election, opening the way for another Democratic candidate to take on Republican Donald Trump in November’s election. On Sunday afternoon (US time), Mr Biden declared it was in the “best interest” of the Democratic Party and the country for him to drop out of the 2024 US presidential race. He also endorsed Vice President Kamala Harris to replace him on the ballot. The Democratic National Convention, where delegates will formally select the nominee, is scheduled to take place in Chicago in mid-August. Mr Biden will remain President until the end of his term next January. On the data front last week, the US reported that Retail Sales remained pretty much unchanged in June, as expected, although the core reading, Retail Sales ex Autos, rose 0.4%, better than the previous 0.1%. Looking ahead to this week, the country will release the first estimate of the Q2 Gross Domestic Product (GDP) and the June Personal Consumption Expenditures (PCE) Price Index, the Fed's favourite inflation gauge. The PCE index stood at 2.5% YoY in May, and any reading below such a level should fuel hopes for a September cut. The US Dollar Index, which tracks the currency's performance against six other currencies, is up 0.18% at 104.34. US Treasury bond yields are also rising across the yield curve, with the 10-year Treasury note yielding 4.233%, up more than three basis points (bps). Expected RangesAUD/USD: 0.6600 - 0.6800 ▼AUD/EUR: 0.6000 - 0.6200 ▼GBP/AUD: 1.9150 - 1.9350 ▲AUD/NZD: 1.1000 - 1.1200 ▲AUD/CAD: 0.9050 - 0.9250 ▲

  • AUD slips as risk aversion envelopes market

    Jul 18, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar shifted lower through trade on Thursday as a risk off mood engulfed markets and propped up the US dollar. Domestic employment data showed the labour market is still incredibly resilient in the face of rising cost of living pressures and elevated interest rate expectations. An uptick in the unemployment rate was offset by a larger than anticipated jump in jobs growth through June and an uptick in the participation rate and population growth. Overall, employment conditions remain stable and offered little incentive for the RBA to deviate from its current path. We still anticipate policy makers will maintain the current policy setting through 2024, with an outside risk of a potential rate hike in August. The possibility of higher yields for longer was not enough to foster an AUD rebound and the dollar slipped toward US$0.67, before finding support. Having approached US$0.68 late last week, the AUD has marked a series of lower lows and lower highs this week. Our attentions turn to commentary from key Fed officials and broader market risk tolerance for direction into the weekly close. Key Movers A risk off mood enveloped markets through trade on Thursday allowing the USD to retrace Wednesday’s downturn, as treasury yields edged higher and equities fell. The DXY dollar index jumped 0.4% on the day advancing against all major counterparts. With US treasury yields higher, the Japanese yen gave up three quarters of one percent, while the euro eased back below 1.09 and the GBP gave up 1.30. Markets seemed content in ignoring the ECB policy meeting after officials confirmed the Bank was leaving rates unchanged. The decision to not adjust rates for a 2nd consecutive month was widely expected and with messaging surrounding future hikes unchanged, ECB pricing expectations were little moved. With no obvious catalyst for the latest risk off move, our attentions turn now to Japanese Core CPI data, UK retails sales, German PPI numbers and Canadian retail sales, while commentary from Fed members Williams and Bostic will provide some colour into the weekly close. Expected RangesAUD/USD: 0.6680 - 0.6750 ▼AUD/EUR: 0.6120 - 0.6220 ▲GBP/AUD: 1.9100 - 1.9400 ▼AUD/NZD: 1.1050 - 1.1150 ▲AUD/CAD: 0.9150 - 0.9250 ▼

  • Forex Today: Tech Selloff Leads Global Stocks Lower

    Jul 17, 2024 | 23:29 pm

    NASDAQ 100 Index Suffers Worst Drop Since 2022, Asian Indices Lower; Markets Await ECB; Gold Threatens New Record High; US 10-Year Treasury Yield Hits 4-Month Low

  • AUD underperforms despite US dollar misstep

    Jul 17, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar underperformed through trade on Wednesday, unable to capitalise on a weaker USD. Comments by former President and Republican nominee Donald Trump sparked a USD sell off and risk off move after he indicated he would prefer a lower dollar relative to the yuan and the yen. The DXY dollar index gave up 0.5% yet the AUD edged lower on the day and was the worst-performing major unit. With little local data to drive direction, investors appeared reluctant to reverse the week's retracement from highs approaching US$0.68, wary that a Trump presidency could damage regional performance, the Chinese economy for example. Having given up 0.1% on the day the AUD opened this morning near US$0.6730. Our attention now turns to domestic labour market data for June. We expect some 25,000 jobs will have been added to the economy while the unemployment rate should remain stable at 4%. A print in line with these expectations could signal the labour market is resilient to further rate hikes and a longer period of tighter monetary policy and could elevate calls for the RBA to lift rates once more, potentially adding support to the AUD. Key Movers The US dollar tracked lower against most major counterparts through trade on Wednesday as pricing for a Fed rate cut firmed and comments from former President Trump sparked a sell off. Trump suggested he would prefer to see the dollar weaken against major trading partners, particularly the yen and the yuan to improve US economic competitiveness. The comments sparked a risk off move and sent the USD lower across the board with the yen and Swiss franc the primary beneficiaries as investors looked for haven assets outside the USD. With the USD on the back foot, the euro rallied through 1.09, marking session highs just short of 1.0950 while the GBP broke above 1.30, marking highs not seen since July 2023. Sterling found added support in stronger-than-expected inflation data. Headline inflation held steady at 2% while core inflation printed above consensus estimates at 3.5%. With inflation sticky the market reduced the likelihood of the Bank of England rate cut next month, pricing just a 35% probability of a policy shift. Our attentions today turn to the European Central Bank. We expect they will vote to leave rates on hold, having cut last month but the commentary and rhetoric surrounding the decision will prove key in shaping direction. US jobless claims will also be keenly monitored as US labour market performance and resilience are key to shaping near-term Fed rate expectations. Expected RangesAUD/USD: 0.6680 - 0.6790 ▼AUD/EUR: 0.6120 - 0.6230 ▼GBP/AUD: 1.9100 - 1.9400 ▲AUD/NZD: 1.1000 - 1.1150 ▼AUD/CAD: 0.9180 - 0.9250 ▲

  • Inflation declines in the UK, Canada, and New Zealand

    Jul 17, 2024 | 05:26 am

    We continue to see a global trend of inflation moving lower.

  • Forex Today: Gold Makes New All-Time High Above $2,480

    Jul 16, 2024 | 23:22 pm

    Gold Makes Strongest Daily Rise in Months to New Record; US 10-Year Treasury Yield Hits 4-Month Low; Some US Equity Indices Make Record Highs

  • AUD underperforms amid rising concerns for impact of a Trump 2.0 Presidency

    Jul 16, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar underperformed through trade on Tuesday amid stronger-than-expected US data and rising concern for a second Trump Presidency. With little of note on the domestic ticket the AUD tracked sideways before giving up 0.4% through overnight trade, sliding below US$0.6750 to mark intraday lows at US$0.6717. US June retail sales printed significantly ahead of market estimates bolstering bets for a strong Q2 GDP print and offering little to change Fed pricing expectations. Momentum had been gathering around a possible 3rd rate cut before year-end but a resilient consumer base suggests the Fed can afford to be patient and measured in adjusting policy. The AUD gapped lower on the back of the data print and failed to recover losses despite a USD correction late in the day. With Trump already talking harder and firmer tariffs for China there are fears the AUD will become a scapegoat in the lead-up to the November 5 election. With the US election acting as a headwind, resistance approaching US$0.68 will likely remain in play while support for moves toward US$0.6680 may be tested. Our attention today turns to NZ, UK and Eurozone CPI inflation data and US housing starts ahead of domestic employment data tomorrow. Key Movers The US dollar enjoyed mixed fortunes through trade on Tuesday and ended flat for the day as conflicting forces pulled the world’s base currency in different directions. The USD rallied following a hotter-than-anticipated domestic Retail sales print. US June retail sales data showed personal consumption jumped 0.9% well ahead of the 0.2% increase priced in by analysts. Even when stripped to exclude car sales purchasing activity was still well above consensus estimates and suggests that Q2 GDP could print higher than expected on the back of consumption growth. While there was little movement in Fed pricing the stronger print gives the Fed license to adopt a slow and measured path when easing interest rates. The USD jumped in the moment following the print but a retracement in yields forced the dollar to give up gains and finish largely unchanged on the day. The DXY dollar index is up 0.05%. In other news, Canadian CPI data fell in line with expectations elevating expectations the Bank of Canada will cut rates again next week. Our attention now turns to UK, NZ, and Eurozone CPI prints as key marked guiding directions throughout the day. Expected RangesAUD/USD: 0.6680 - 0.6800 ▼AUD/EUR: 0.6150 - 0.6230 ▼GBP/AUD: 1.9100 - 1.9400 ▲AUD/NZD: 1.0980 - 1.1080 ▼AUD/CAD: 0.9150 - 0.9250 ▼

  • Forex Today: Gold Approaching Record High of $2,450

    Jul 15, 2024 | 23:10 pm

    Gold Closes Near High and Continues to Tick Higher in Asian Session; US Treasury Yields Falling on Prospect of Trump Victory; US Equity Indices Make Record Highs

  • Forex Today: Trump Trade Sends Rates Lower

    Jul 14, 2024 | 23:13 pm

    Political Boost from Assassination Attempt Seen Likely, Trump 65% Probable to Win; US Treasury Yields Fall on Prospect of Trump Victory.

  • US Inflation Falls to One-Year Low of 3%

    Jul 11, 2024 | 08:01 am

    US inflation for June declined to 3.3% year-on-year. This was lower than the forecast and the US Dollar has declined following the inflation data release.

  • Forex Today: Markets Expect Falling US Inflation Data Today

    Jul 10, 2024 | 23:23 pm

    US CPI Seen Falling From 3.3% to 3.1%; S&P 500, NASDAQ 100, Nikkei 225 Power to New All-Time Highs; UK GDP Stronger Than Expected.

  • Forex Today: Dovish RBNZ Sends Kiwi Lower

    Jul 9, 2024 | 22:56 pm

    RBNZ Holds Rates But Confident Inflation Under Control; S&P 500, NASDAQ 100, Nikkei 225 Trading at New All-Time Highs Wednesday; Fed Chair Powell Gives Neutral Testimony.

  • Forex Today: US, Japanese Stocks Make New Records

    Jul 8, 2024 | 22:35 pm

    S&P 500, NASDAQ 100, Nikkei 225 Trading at New All-Time Highs Tuesday; Markets Await Fed Chair Powell Testimony; 77% Now Expect September Fed Cut.

  • Forex Today: Nikkei 225 Index Hits Record High

    Jul 7, 2024 | 23:57 pm

    Bullish Global Stocks Boost Japanese Market; Left Comes First, Far-Right Last, in French Parliamentary Election; S&P 500, NASDAQ 100 Hit New All-Time Highs Friday; Markets Await Fed Chair Powell Testimony

  • United States Federal Reserve Minutes: Fed in Wait-and-See Mood

    Jul 4, 2024 | 02:25 am

    The Federal Reserve released late Wednesday the minutes of the June 11-12 Federal Open Market Committee (FOMC) meeting. At the June meeting, policymakers maintained rates at the target range of 5.25%-5.5% for a seventh straight time.

  • Forex Today: Stocks in USA and Japan Power to Record Highs

    Jul 3, 2024 | 23:36 pm

    S&P 500, NASDAQ 100 Rise to All-Time Highs; Japanese Equity Indices Reach Record; US Drops Most in 3 Weeks; Markets See Strong Chance of Biden Withdrawal From Race

  • Forex Today: Fed’s Powell Boosts Stocks

    Jul 2, 2024 | 23:10 pm

    Stocks Rise After Powell Says Inflation Trending Down; Major Equity Indices See Record High Closing Prices; Markets Await FOMC Minutes

  • Forex Today: USD/JPY Hits 38-Year High at ¥161.75

    Jul 1, 2024 | 23:10 pm

    USD/JPY Makes Record Near ¥162; Euro Runs Out of Momentum, Although RN Majority Unlikely in France; Markets Await Eurozone CPI Estimate

  • Forex Today: Euro Rises as RN Majority in Doubt

    Jun 30, 2024 | 23:33 pm

    Euro Rises as RN Underperforms Opinion Polls in French Election; USD/JPY Trading Near Record Above ¥161; Markets Await German Preliminary CPI Data

  • Forex Today: USD/JPY Hits 38-Year High Above ¥160

    Jun 27, 2024 | 00:31 am

    Yen Continues to Weaken, Bank of Japan Threats Seen Failing; USD/JPY Makes Historic Breakout Beyond ¥160; Markets Await US Final GDP Data

  • Forex Today: Australian CPI in Surprise Increase to 4%

    Jun 25, 2024 | 23:03 pm

    Australian Inflation Follows Canada Higher, Aussie Strengthens; Japanese Yen Remains Weak Near ¥160; Crude Oil Steadies on Higher US Stockpile

  • Inflation in Canada Climbs to 2.9% in May

    Jun 25, 2024 | 08:01 am

    Canada’s Consumer Price Index (CPI) rose to 2.9% year-on-year in May, up from a three-year low of 2.7% in April.

  • Forex Today: Markets Expecting Lower Canadian CPI

    Jun 24, 2024 | 23:29 pm

    Month-on-Month Canadian CPI Expected at 0.3%; Japanese Yen Remains Weak Near ¥160; Tech Stocks Lower as NVIDIA Plunges; Crude Oil Near 2-Month High

  • Forex Today: Yen Still Weak Despite BoJ Intervention Threat

    Jun 23, 2024 | 23:38 pm

    USD/JPY Remains Close to ¥160; Japan’s Canda Threatens to Intervene; Far Right Remains Strong in New French Polls

  • Bank of England Holds Rates at 5.25%

    Jun 20, 2024 | 14:23 pm

    The Bank of England (BoE) stayed on the sidelines at Thursday’s policy meeting. The British Pound is slightly lower as the decision was widely expected.

  • Forex Today: Fed’s Kashkari Suggests Delaying Rate Cut to December

    Jun 16, 2024 | 23:38 pm

    Fed’s Kashkari Males Implicitly Hawkish Statement; Fears Grow of Far-Right Victory in France; Indonesian Rupiah at 4-Year Low

  • US Inflation Dips Unexpectedly to 3.3% in May, Fed Remains Cautious

    Jun 13, 2024 | 04:42 am

    There was good news on the inflation front, as inflation decelerated in May and was lower than anticipated.

  • Forex Today: Lower US Inflation Sends Stocks Soaring Despite Cautious Fed

    Jun 13, 2024 | 00:27 am

    US inflation data showed no increases in prices over the past month, leading to an expected fall in annualized CPI which sent major US equity indices sharply higher.

  • Forex Today: US Stock Indices Close on Record Highs Ahead of CPI, FOMC

    Jun 10, 2024 | 23:44 pm

    US Stock Market Continues Advance, European Markets Also Bullish; Gold Near 2-Month Low; Euro Finds Support; Indonesian Rupiah at 4-Year Low

  • Forex Today: Euro Falls on Shock Macron Election Call

    Jun 9, 2024 | 22:46 pm

    Macron Calls General Election as Far-Right Wins 40% in Euro Poll; Risk Appetite Drops After Higher US Earnings, NFP Friday

  • ECB Cuts Interest Rates, Raises Inflation Forecast

    Jun 6, 2024 | 06:45 am

    The European Central Bank (ECB) delivered a 0.25% rate cut at today’s policy meeting.

  • Forex Today: ECB Seen Cutting Main Refinancing Rate to 3.75%

    Jun 5, 2024 | 23:21 pm

    European Central Bank Expected to Cut by 0.25%; Major US Equity Indices Hit Record Highs; Bullish Bitcoin Testing Resistance Again

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