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Forex News Live Today: The Ultimate Source for Forex News

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Are you looking for the latest and most reliable Forex news from all corners of the web? If yes, then “Forex News Live Today” is the perfect web page for you. It is the ultimate source of Forex news and analysis that scours the entire web for the latest news, wherever it appears, and brings it to you in one place. You can find Forex news from all known sources. “Forex News Live Today” saves you time and effort by doing all the work for you. You can get an overview of everything that's happening in the forex market with just one click. Monitoring this page regularly is the best way to stay ahead of the market and make informed Forex trading decisions. Good luck in your trading.

 

  The Latest Forex News Live Today:

  • The market's love affair with the Mexican Peso continues – ING

    Mar 28, 2024 | 08:11 am

    The Mexican Peso (MXN) has now delivered year-to-date total returns of 5.36% against the mighty US Dollar (USD).

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  • AMC Entertainment Stock News: AMC sheds 14% after offering to sell $250 million in common stock

    Mar 28, 2024 | 08:06 am

    AMC Entertainment (AMC) stock is at it again. The heavily indebted cinema chain and once-loved meme stock is heading to the market to sell another $250 million worth of shares in order to pay down its strangling debt load obtained during the heights of the covid pandemic.

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  • KC Fed March manufacturing index -9 vs +3 prior

    Mar 28, 2024 | 08:04 am

    Prior was +3Composite -7 vs -4 prior This article was written by Adam Button at www.forexlive.com.

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  • EUR/USD declines after disappointing German Retail Sales

    Mar 28, 2024 | 08:02 am

    EUR/USD sells off on Thursday, breaking below key support at 1.0800 after the release of subpar German Retail Sales data raised further concerns over the health of Europe’s largest economy, weighing on the Euro (EUR).

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  • United States Kansas Fed Manufacturing Activity: -9 (March) vs previous 3

    Mar 28, 2024 | 08:02 am

    United States Kansas Fed Manufacturing Activity: -9 (March) vs previous 3

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  • New Zealand Dollar depreciates on weaker consumer confidence

    Mar 28, 2024 | 07:59 am

    The New Zealand Dollar (NZD) is weakening across the board on Thursday, after a leading indicator of consumer confidence in New Zealand deteriorated sharply in February.

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  • US Dollar retreats off the highs with uptick Continuing Claims taking the wind out of the rally

    Mar 28, 2024 | 07:37 am

    The US Dollar (USD) retreats from its earlier fresh highs for March after the Greenback rallied on comments from Fed Board Member Christopher Waller who pulled the plug on a June interest-rate cut. The Greenback is rolling through the markets

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  • Gold price prints fresh all time highs ahead of US core PCE inflation

    Mar 28, 2024 | 07:34 am

    Gold price (XAU/USD) rallies above $2,220 in Thursday’s early American session.

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  • Natural Gas jumps with GDP revision and uptick in Jobless Claims supporting demand

    Mar 28, 2024 | 07:31 am

    Natural Gas (XNG/USD) jumps back above $1.81 and even briefly hit $1.82 in the US data release aftermath. The US numbers with the US Gross Domestic Product and jobless claims, triggered a turnaround in Thursday's market sentiment. Markets

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  • United States EIA Natural Gas Storage Change below expectations (-28B) in March 22: Actual (-36B)

    Mar 28, 2024 | 07:30 am

    United States EIA Natural Gas Storage Change below expectations (-28B) in March 22: Actual (-36B)

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  • Gold Price Forecast: XAU/USD to trade towards $2,300 by the end of 2024 – ANZ

    Mar 28, 2024 | 07:29 am

    Gold prices have been scaling new highs in March. Economists at ANZ Bank analyze the yellow metal’s outlook.

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  • Pound Sterling recovers swiftly as US Dollar falls back

    Mar 28, 2024 | 07:19 am

    The Pound Sterling (GBP) recovers to 1.2640 against the US Dollar in Thursday’s early New York session.

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  • S&P 500 rose late session in expectation of bolstered rate cutting bets via cooler GDP

    Mar 28, 2024 | 07:15 am

    S&P 500 rose late session in expectation of bolstered rate cutting bets via cooler GDP (and unemployment claims), but that didn‘t happen – the bulls have one more obstacle ahead of core PCE to grapple with – and they stand better chance of doing so (forcing a draw at least) today than as regards next week‘s opening gap as markets are closed tomorrow – Happy Easter if you celebrate! This is how I summed it up in the GDP run up in our channel.

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  • AUD/USD Price Analysis: Likely test Ascending Triangle’s breakdown near 0.6520

    Mar 28, 2024 | 07:14 am

    The AUD/USD pair finds support slightly below the psychological support of 0.6500 in the early American session on Thursday.

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  • United States Pending Home Sales (YoY): -7% (February) vs -8.8%

    Mar 28, 2024 | 07:01 am

    United States Pending Home Sales (YoY): -7% (February) vs -8.8%

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  • US March UMich final consumer sentiment 79.4 vs 76.5 expected

    Mar 28, 2024 | 07:00 am

    Highest since July 2021March prelim was 76.5Final February was 76.9Current conditions 82.5 vs 79.4 prelimExpectations 77.4 vs 74.6 prelimOne -year inflation 2.9% vs 3.0% prelim -- matches lowest since Dec 2020Five-year inflation 2.8% vs 2.9% prelimThis is a goldilocks report and underscores the strength in the US economy and moderating inflation. That said, I don't put any stock in this report, which is more of a political gauge than an economic one. This article was written by Adam Button at www.forexlive.com.

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  • United States Pending Home Sales (MoM) registered at 1.6% above expectations (1.5%) in February

    Mar 28, 2024 | 07:00 am

    United States Pending Home Sales (MoM) registered at 1.6% above expectations (1.5%) in February

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  • United States UoM 5-year Consumer Inflation Expectation down to 2.8% in March from previous 2.9%

    Mar 28, 2024 | 07:00 am

    United States UoM 5-year Consumer Inflation Expectation down to 2.8% in March from previous 2.9%

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  • United States Michigan Consumer Sentiment Index above forecasts (76.5) in March: Actual (79.4)

    Mar 28, 2024 | 07:00 am

    United States Michigan Consumer Sentiment Index above forecasts (76.5) in March: Actual (79.4)

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  • US February pending home sales +1.6% vs +1.5% expected

    Mar 28, 2024 | 07:00 am

    Prior was -4.9%Index vs 74.3 prior revised 274.4Pending home sales for February 2024 rise 1.6% versus 1.5% expectedIndex for February 75.6Sales are down 7% from a year agoLooking at the regional breakdowns:The Northeast Pending Home Sales Index (PHSI) decreased by 0.3% from the previous month to 63.4, marking a 9.0% decline from February 2023.In the Midwest, the PHSI surged by 10.6% to 81.6 in February, a decrease of 2.5% compared to one year ago.The South PHSI experienced a 1.1% increase to 89.5 in February, but fell 8.5% from the previous year.The West index dropped by 6.5% in February to 57.1, reflecting a 7.9% decrease from February 2023.Pending home sales are off of signed contracts.Active listings are up 6% according to Redfin.From the National Associations of Realtors Lawrence Yun:"The high-cost regions in the Northeast and West experienced pullbacks due to affordability challenges, Home prices rising faster than income growth is not healthy and adds challenges for first-time buyers. There will be a steady rise in inventory from recent growth in home building. Additionally, many sellers, who delayed listing in the past two years, will begin to put their homes on the market to move to a different home that better fits their new life circumstances – such as changes in family composition, jobs, commuting patterns and retirees wanting to be closer to their grandkids." This article was written by Adam Button at www.forexlive.com.

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  • United States Chicago Purchasing Managers' Index registered at 41.4, below expectations (46) in March

    Mar 28, 2024 | 06:45 am

    United States Chicago Purchasing Managers' Index registered at 41.4, below expectations (46) in March

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  • USD gains on Fed Waller’s ‘no rush’ comment but may struggle to extend further – Scotiabank

    Mar 28, 2024 | 06:39 am

    USD rally is gaining traction. Economists at Scotiabank analyze Greenback’s outlook.

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  • US stocks mixed in early trading

    Mar 28, 2024 | 06:38 am

    The major US stock indices are trading mixed at the US open. The flow of funds is more into the Dow with the S&P near unchanged and the Nasdaq down marginally. The small-cap Russell 2000 index is also higher. Recall from yesterday, the S&P index closed at a record high, but fell short of its intraday high at 5261.10. That is the next target on further upside today.A snapshot of the market seven minutes into the open is showing:Dow industrial average up 22 points or 0.06% at 39781S&P index -1.6 points or -0.02% at 5247NASDAQ index -30 points or -0.18% at 16370.57The small-cap Russell 2000 is currently up 6.56 points or 0.31% at 2120.91.US yields are moving higher:2-year yield 4.617% +4.8 basis points5-year yield 4.226%, +3.8 basis points10-year yield 4.222%, +2.6 basis points30-year yield 4.369% +1.0 basis points.Looking at other markets:Crude oil is trading up $1.23 or 1.52% at $82.59.Gold is trading up $13 or 0.59% at 2207.43Bitcoin is trading higher at $70,883 This article was written by Greg Michalowski at www.forexlive.com.

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  • US equities open flat, energy threatens a breakout

    Mar 28, 2024 | 06:33 am

    US stock markets surged into the close yesterday but the momentum has faded.The S&P 500 opened flat and the Nasdaq down 0.2%. There is some divergence with energy strong and the XLE threatening to break a major top. This article was written by Adam Button at www.forexlive.com.

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  • Canadian dollar climbs after stronger January and February GDP

    Mar 28, 2024 | 06:08 am

    USD/CAD fell about 20 pips on a strengthening Canadian dollar following upbeat numbers on January and February GDP.Canada's economy grew 0.6% in January 2024 in the best monthly gain in a year. That follows a series of flat-or-negative numbers stretching over the prior six months. Unfortunately, the number isn't quite as strong as it seems. It was boosted by a big contribution from educational services after a teachers' strike in Quebec ended.However the good news didn't end there as the preliminary February GDP reading was +0.4% in a broad based gain that shows the Canadian economy still has some strength, even if it's largely driven by population growth.USD/CAD was at 1.3592 before the data and fell to 1.3572 afterwards.The fall today looks like another rejection of the 1.3600 level. The pair has touched that level on 10 separate days since February 27, failing to close above it every single time.The Canadian dollar is being helped along by oil prices, which are up $1.26 today to $82.60 and have risen $5 since mid-February.If that level breaks, it could create a run on stops but that won't happen if Canadian economic data keeps beating estimates and the housing market holds up. My latest checks show decent on-the-ground housing demand in what's a critical moment for the struggling sector. This article was written by Adam Button at www.forexlive.com.

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  • Russia Central Bank Reserves $ down to $590.1B from previous $594.3B

    Mar 28, 2024 | 06:00 am

    Russia Central Bank Reserves $ down to $590.1B from previous $594.3B

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  • S&P 500 bounced – Will it attempt to break the record?

    Mar 28, 2024 | 05:52 am

    Stock prices broke their short-term losing streak yesterday, as the S&P 500 index gained 0.86%.

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  • USD/CAD: Near-term risks geared towards some drift back to the 1.3550/1.3575 area – Scotiabank

    Mar 28, 2024 | 05:50 am

    USD/CAD has edged slightly higher to retest the 1.3600+ area.

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  • Silver Price Analysis: Continues lower after Bearish Engulfing

    Mar 28, 2024 | 05:48 am

    Silver price (XAG/USD) is trading in the $24.580s on Friday.

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  • US Q4 GDP growth revised higher to 3.4% from 3.2%

    Mar 28, 2024 | 05:39 am

    The United States' Gross Domestic Product (GDP) grew at an annual rate of 3.4% in the fourth quarter, the US Bureau of Economic Analysis (BEA) said in its final estimate on Thursday.

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  • US weekly Initial Jobless Claims decline to 210K vs. 215K expected

    Mar 28, 2024 | 05:34 am

    There were 210,000 initial jobless claims in the week ending March 23, the weekly data published by the US Department of Labor (DOL) showed on Thursday.

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  • Canada January GDP +0.6% vs +0.4% expected

    Mar 28, 2024 | 05:30 am

    Prior was 0.0%Services industries +0.7%Goods producing +0.2%Manufacturing +0.9%, led by transportation equipmentFebruary advance Canadian GDP +0.4%Full reportCanadian GDP got a boost from educational services (+6.0%) after a teachers' strike in Quebec ended in December.The bullish number for CAD is the advance February reading, which combined with January is setting up an impressive quarter. It was driven by broad-based increases, with main contributions from mining, quarrying, and oil and gas extraction, manufacturing, and finance and insurance, and partially offset by decreases in utilities.USD/CAD is down 15 pips in reaction. This article was written by Adam Button at www.forexlive.com.

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  • US Q4 GDP final reading +3.4% vs +3.2% expected

    Mar 28, 2024 | 05:30 am

    Second Q4 reading was +3.2% annualizedFinal Q3 reading was +4.9% annualized Q2 was +2.1% annualizedDetails:Consumer spending +3.3% vs +3.0% second reading Consumer spending on durables % vs +3.2% second reading GDP final sales +3.9% vs +3.5% second reading GDP deflator 1.7% vs +1.7% second reading Core PCE +2.0% vs +2.1% second reading Business investment +0.7% vs +0.9% second reading Corporate profits +3.9%Government added 0.79 pp to GDPInventories subtracted 0.47 pp from GDPFull reportThe final GDP report is rarely a market mover but can offer some hints at the following quarter. It's also another tick in the box showing a resilient economy. This article was written by Adam Button at www.forexlive.com.

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  • US initial jobless claims 210K vs 212K estimate

    Mar 28, 2024 | 05:30 am

    Prior week revised to 212K revised from 210KInitial jobless claims at 210K vs 212K estimate4-week moving average 211K vs 211.75K last weekContinuing claims 1.819MPrevious week revised -12 K to 1.795M from 1.807M previously reported4-week moving average 1.803M versus previous week 1.799M (revised from 1.802M)The largest increases in initial claims for the week ending March 16 were in Missouri (+1,443), Michigan (+1,204), Tennessee (+538), Mississippi (+353), and Arkansas (+279), The largest decreases were in California (-5,794), Oregon (-1,651), Texas (-856), Pennsylvania (-740), and Illinois (-626).The data is still indicative of a solid employment market. This article was written by Greg Michalowski at www.forexlive.com.

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  • United States Personal Consumption Expenditures Prices (QoQ) meets forecasts (1.8%) in 4Q

    Mar 28, 2024 | 05:30 am

    United States Personal Consumption Expenditures Prices (QoQ) meets forecasts (1.8%) in 4Q

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  • United States Gross Domestic Product Annualized came in at 3.4%, above expectations (3.2%) in 4Q

    Mar 28, 2024 | 05:30 am

    United States Gross Domestic Product Annualized came in at 3.4%, above expectations (3.2%) in 4Q

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  • United States Continuing Jobless Claims above forecasts (1.807M) in March 15: Actual (1.819M)

    Mar 28, 2024 | 05:30 am

    United States Continuing Jobless Claims above forecasts (1.807M) in March 15: Actual (1.819M)

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  • United States Initial Jobless Claims below expectations (215K) in March 22: Actual (210K)

    Mar 28, 2024 | 05:30 am

    United States Initial Jobless Claims below expectations (215K) in March 22: Actual (210K)

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  • United States Gross Domestic Product Price Index meets forecasts (1.7%) in 4Q

    Mar 28, 2024 | 05:30 am

    United States Gross Domestic Product Price Index meets forecasts (1.7%) in 4Q

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  • Japan PM Kishida: Won't rule out any steps to respond to disorderly FX moves

    Mar 28, 2024 | 05:19 am

    Intervention watch in yen trading is high at the moment. Comments from Kishida are crossing:Important for currencies to move in stable manner, reflecting fundamentalsWon't rule out any stepsClosely watching FX moves with a high sense of urgencyWill take out appropriate action without ruling out any options to deal with FX movesUSD/JPY is flat today at 151.30. This article was written by Adam Button at www.forexlive.com.

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  • Full slate of economic data coming up as North America nears the holiday

    Mar 28, 2024 | 05:17 am

    It's a strange week in the market in that the highlight comes on Friday, which is of course Good Friday and a holiday in stocks, bonds and futures markets.However we get some potentially market moving economic data today as well, starting at the bottom of the hour with:Initial jobless claimsUS final Q4 GDPCanadian January GDPThen we skip ahead to 10 am ET with the release of:US pending home salesUMich consumer sentimentIt should wind down quickly from there and the bond market closes today at 2 pm ET. This article was written by Adam Button at www.forexlive.com.

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  • Japan PM Kishida: We are still half way in completely emerging from deflation

    Mar 28, 2024 | 04:57 am

    Well, he's not wrong. If not for the Covid pandemic, it would have been unfathomable to imagine the BOJ being able to normalise monetary policy. The main worry for Japan now is that they might have gotten onto the ship a little too late. This article was written by Justin Low at www.forexlive.com.

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  • ForexLive European FX news wrap: Dollar nudges higher, gold on the move

    Mar 28, 2024 | 04:38 am

    Headlines:EUR/USD falls to fresh five-week low just under 1.0800Gold continues to knock on the door of the $2,200 levelThe bond market continues to cook in trading this weekBOE's Haskel: I think rate cuts are a long way offECB's Panetta: The conditions to start easing monetary policy are materialisingGermany February retail sales -1.9% vs +0.3% m/m expectedGermany March unemployment change 4k vs 10k expectedUK Q4 final GDP -0.3% vs -0.3% q/q prelimCiti raises China 2024 GDP growth forecast to 5.0% from 4.6% previouslyMarkets:USD leads, AUD and NZD lag on the dayEuropean equities mildly higher; S&P 500 futures down 0.1%US 10-year yields up 2.4 bps to 4.220%Gold up 0.8% to $2,212.35WTI crude up 1.3% to $82.47Bitcoin up 2.7% to $70,730The session started off with a quieter mood but picked up as the dollar nudged higher across the board. Other major currencies all have their own struggles and the greenback looks to be taking advantage.EUR/USD is down to a five-week low, touching 1.0775 during the session. The euro is not helped by another poor German retail sales print for February. Meanwhile, GBP/USD is down 0.2% to 1.2620 but is off earlier lows of 1.2585 at least.USD/JPY was calmer though, keeping little changed at around 151.20-30 levels as traders remain disinterested after the warnings from Japan yesterday.Besides that, USD/CAD is up a touch to test 1.3600 and is keeping just below that now. And AUD/USD is down 0.6% to a three-week low just under the 0.6500 mark.In the equities space, the mood is more tentative at best. European indices are following up on Wall Street gains yesterday but US futures are marginally lower today.In other markets, gold is shining brightly as it pushes up above the $2,200 mark once again. Buyers are hoping that the break this time will hold better than it did a week ago at least.As a reminder, it is going to be an extended weekend for a number of markets starting from tomorrow until Monday. Of note, Australia, New Zealand, and Europe in general will be off for the next four days with Canada also observing a holiday tomorrow. This article was written by Justin Low at www.forexlive.com.

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  • Gold continues to knock on the door of the $2,200 level

    Mar 28, 2024 | 03:23 am

    The precious metal is staying poised in trading today despite the dollar also sitting higher on the session. After hitting record highs last week, gold buyers have found it a bit tough to contest the $2,200 mark again so far. But we're getting another run at that key level again at the moment.If it breaks, expect that to potentially lead to a quick shoot higher for gold. I would argue that the onus is on sellers to keep price down, especially since gold is staying bid despite the dollar's strength on the day.Update (1025 GMT): Well, that was quick. Gold now threatens that particular break in a quick jump to $2,206 at the moment. This article was written by Justin Low at www.forexlive.com.

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  • Eurozone February M3 money supply +0.4% vs +0.3% y/y expected

    Mar 28, 2024 | 02:02 am

    Prior +0.1% This article was written by Justin Low at www.forexlive.com.

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  • Germany March unemployment change 4k vs 10k expected

    Mar 28, 2024 | 01:55 am

    Prior 11kUnemployment rate 5.9% vs 5.9% expectedPrior 5.9%German unemployment rose less than expected during the month, with the jobless rate keeping stable at 5.9%. The labour office notes that the economic downturn is still having an impact on the labour market though. So, there are still some signs of caution to be heeded. This article was written by Justin Low at www.forexlive.com.

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  • AUD/USD eases to three-week low, eyes on support just below 0.6500

    Mar 28, 2024 | 01:43 am

    With the retreat today, the pair is down to its lowest since 6 March with price just under 0.6500 now. Sellers remain in control, having kept a defense of the 200-day moving average (blue line) earlier this week. But all eyes now will be on the swing region around 0.6485-90, before looking to the February lows of 0.6442-46 next.As we approach month-end and quarter-end, the dollar is staying supported so far. That is not to say that this is the trend for this month-end and quarter-end. However, just remember that the dollar was checked back earlier this week. And it is now responding in kind by holding on to the key technical levels called into question.The only factor working in favour of the aussie now is that at least stocks are still in a positive mood this week. But we'll see if that is enough to help arrest any stronger downside momentum in AUD/USD going into the Easter break. This article was written by Justin Low at www.forexlive.com.

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  • Dollar benefits from the struggles among its peers

    Mar 28, 2024 | 01:32 am

    In case you missed it, Eamonn had the post on Waller (and a good summary of others) earlier here. That is one contributing factor to the dollar's nudge higher so far today. But there also several other reasons plaguing other major currencies, helping to prop up the dollar inadvertently.The euro continues to see rather weak economic data with an ECB rate cut in June almost a given now. Meanwhile, the yen is struggling post-BOJ despite Tokyo's best efforts to try and stem the bleeding. The franc is returning to its funding currency status as the SNB leads the rate cut race. The loonie is also not faring too much better on softer inflation numbers, perhaps seeing the BOC act quicker. Then, we have the aussie and kiwi getting dragged into the mud by the Chinese yuan's fall this week.Yada, yada. The cleanest shirt among the dirty laundry again, the dollar that is. Or at least one can argue it that way.How ironic it is that we can use this meme again this year. 😜 This article was written by Justin Low at www.forexlive.com.

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  • Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote - 28 March 2024

    Mar 28, 2024 | 01:25 am

    US Fed’s Waller Reiterates Ongoing Fed Message of Slow Path to Rate Cuts; USD/JPY Remains Below Record High Near ¥152; Cocoa Futures Make Another Record High Close; Gold Also Makes Record High Closing Price

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  • EUR/USD falls to fresh five-week low just under 1.0800

    Mar 28, 2024 | 01:15 am

    At the same time, a firmer dollar is also contributing to the drop we're seeing to start the session. The greenback is up across the board, posting modest gains now as European traders enter the fray. EUR/USD is looking to break the 1.0800 mark, as sellers maintain the recent downside momentum by leaning on the 200-day moving average this week:The euro side of the equation is also contributing to the fall, as German consumption activity continues to sit in the doldrums. Europe's largest economy remains uninspiring and is arguably the region's biggest source of worry and uncertainty now. And that isn't providing much comfort for the euro, as the ECB looks set to begin cutting rates in June. Meanwhile, there are still some reservations with regards to the Fed as mentioned here.Going back to EUR/USD, there is a trendline resistance to deal with around 1.0775 next. But if we are able to keep a daily break below 1.0800, there will be added momentum for a further downside shove going into next week. This article was written by Justin Low at www.forexlive.com.

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  • European stocks mostly a touch higher to start the day

    Mar 28, 2024 | 01:08 am

    Eurostoxx +0.2%Germany DAX +0.1%France CAC 40 +0.2%UK FTSE +0.3%Spain IBEX -0.2%Italy FTSE MIB +0.1%With the Easter break coming up, European indices look poised to hold at the highs ahead of the holiday period. US futures are more muted today after rallying yesterday, with S&P 500 futures seen down 0.1%. So, that is counter-balancing the mood a slight bit to start the session. This article was written by Justin Low at www.forexlive.com.

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  • Switzerland March KOF leading indicator index 101.5 vs 102.0 expected

    Mar 28, 2024 | 01:00 am

    Prior 101.6; revised to 102.0Following the revision, Switzerland's leading economic barometer drops slightly in March. Overall, it continues to hint at some caution with regards to the performance of the economy in six months' time. This article was written by Justin Low at www.forexlive.com.

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  • UK Q4 final GDP -0.3% vs -0.3% q/q prelim

    Mar 28, 2024 | 00:00 am

    Prior -0.1%GDP -0.2% vs -0.2% y/y prelimPrior +0.2%No changes to the initial estimates as the UK economy contracted in the final quarter of last year. It confirms a technical recession in the second half of 2023. But at least that slump is offset by improving conditions to start Q1 this year. This article was written by Justin Low at www.forexlive.com.

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  • Germany February retail sales -1.9% vs +0.3% m/m expected

    Mar 28, 2024 | 00:00 am

    Prior -0.4%Once again, you can still count on German retail sales missing estimates and continuing to struggle. As seen from the chart above, retail sales have been down in the dumps for quite some time now - at least in real terms. And that continues to highlight the impact of inflation on consumption activity in the German economy. This article was written by Justin Low at www.forexlive.com.

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  • Citi raises China 2024 GDP growth forecast to 5.0% from 4.6% previously

    Mar 27, 2024 | 23:45 pm

    On the change, Citi cites "recent positive data and policy delivery". But personally, I still think it is too early to tell especially on effectiveness of the latter. We'll see in due time.But in terms of the official numbers, we are likely to see China tout the 5% benchmark come year-end. That after having announced such a target earlier in the month here. This article was written by Justin Low at www.forexlive.com.

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  • The bond market continues to cook in trading this week

    Mar 27, 2024 | 22:00 pm

    It's not the most exciting of weeks for bonds, as the action has trended rather sideways. 10-year yields in the US have been sticking around 4.20% to 4.25% for the last few days. And for the most part, that owes to some technical pull as seen in the chart below:The confluence of the 100 and 200-day moving averages at 4.191% to 4.208% is holding yields in a tight grip. That considering that traders have little in terms of economic data and headlines to work with during the week.But after finding a double-bottom and then a double-top, yields are now put in a spot where traders have to dig deep to justify their convictions.Besides the pull of the moving averages above, there is also the trendline support (white line) for yields around the 4.14% mark. In that sense, one can also point to a triangle pattern forming on the chart above.As such, the argument can be made that a break of that pattern could see yields move much more significantly next. But whether that move will be a break higher or lower will ultimately depend on one question. And that is how is the market feeling about a June rate cut by the Fed?Currently, the odds priced in for that are ~68% based on Fed funds futures. That is not an overwhelmingly convincing signal by any stretch of the imagination. It means that traders will still need to rely on more economic data before firming up any further convictions.If anything else, this further solidifies the notion of how data dependent this market really is in its current state. And you only have to look at the lack of meaningful price action throughout this week to confirm that. This article was written by Justin Low at www.forexlive.com.

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  • Aussie dollar continues to hold above US$0.65

    Mar 27, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is relatively unchanged again this morning when valued against the Greenback, currently trading at US$0.6533 at the time of writing. On the local data front yesterday, inflation has held steady for the second month in a row, as cheaper meat and seafood helped offset increases in rents and automotive fuel. The monthly index of consumer prices rose only 3.4% in the year to February, stabilising near the pace of the increases in January and December, the Australian Bureau of Statistics said on Wednesday. Economists had predicted February’s CPI would come in at 3.5%. Excluding volatile items such as fresh produce and fuel, inflation fell from 4.1% in January to 3.9% last month. Holiday and accommodation prices continued to fall, offsetting price rises in other categories. The category’s prices fell 1.3% in the year to February, falling more slowly than the two previous months, reflecting boosts from Taylor Swift’s blockbuster Eras tour. The AUD has faced downward pressure following the release of Westpac's Consumer Confidence Index on Tuesday, which dipped 1.8% to 84.4 in March 2024 from February's 86.0, easing from 20-month highs. Key Movers The US dollar Index saw its second consecutive day of gains amid a risk-off sentiment, driven by anticipation surrounding the upcoming release of US Personal Consumption Expenditures (PCE) scheduled for Friday. However, the decline in US Treasury yields may be attributed to the expectations surrounding the US Federal Reserve regarding potential rate cuts. This sentiment could limit the advances of the US dollar. On the data front, US durable goods orders increased by 1.4% in February, against the 1.3% expected and previous decline of 6.9%. US durable goods orders excluding defense rose by 2.2% in February, compared to the expected 1.1% and 7.9% previous decline. US Housing Price Index decreased MoM by 0.1% in January, against the December’s increase of 0.1%. The Pound sterling fell to near 1.2600 in Wednesday’s early American session. The broader appeal remains weak as investors expect the Bank of England (BoE) will start reducing interest rates sooner than previously anticipated. The BoE said last week in its monetary policy statement that the central bank is not at a point where interest rates can be reduced. However, policymakers didn’t rule out the market’s view of two or three rate cuts this year. Investors will keenly focus on the United States core Personal Consumption Expenditure Price Index (PCE) data for February, published on Good Friday. The annual Core PCE is forecasted to have grown at a steady pace of 2.8%. Daily Commentary will be on break for the long weekend from Friday, March 29th to Monday, April 1st and will resume Tuesday, April 2nd. Expected RangesAUD/USD: 0.6430 - 0.6630 ▲AUD/EUR: 0.5930 - 0.6130 ▼GBP/AUD: 1.9230 - 1.9430 ▼AUD/NZD: 1.0780 - 1.0980 ▲AUD/CAD: 0.8760 - 0.8960 ▼

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  • Forex Today: Japanese Yen Hits 34-Year Low

    Mar 27, 2024 | 00:13 am

    USD/JPY Hits Record High Near ¥152, Japanese Officials Try to Talk Up Yen; Cocoa Futures Surpass $10,000 to Hit All-Time High; Aussie CPI Unchanged

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  • Aussie dollar holds above US$0.65

    Mar 26, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is relatively unchanged this morning when valued against the Greenback currently trading at US$0.6531 at the time of writing. The Australian dollar extended its gains on Tuesday. In the European session, AUD/USD is trading at US$0.6557, up 0.26%. The broader outlook reveals that the bears exhibit a somewhat stronger presence, which could maintain a certain level of pressure on the pair. There were no local data releases yesterday. Looking ahead today all eyes will be on the Australian Bureau of Statistics monthly release of Consumer Price Index (CPI) which is expected to rise from 3.4% to 3.5%. 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. That could set back expectations for a rate cut from the Reserve Bank of Australia, which has kept rates unchanged at 4.35% for four straight times. The markets are of the view that the RBA’s tightening cycle is done and have priced in a rate cut later in the year. Still, the RBA hasn’t ruled out rate hikes, with inflation still well above the 2% target. Finally, on Thursday we will see the release of the monthly Retail Sales figures. Key Movers On the data front on Monday, the US February New Home Sales dropped 0.3% MoM from a 1.7% gain in January, below the market expectations for a 2.3% MoM rise. Meanwhile, the Dallas Fed Manufacturing Survey fell to -14.4 in March from the previous reading of -11.3. Overnight we saw the release of US Durable Goods Orders for February, which roundly beat expectations, according to data from the US Census Bureau. The data showed headline Durable Goods Orders rising 1.4% when 1.3% had been forecast, and Durable Goods Orders ex Defense rising 2.2% when 1.1% had been estimated. Durable Goods ex Transport also beat forecasts, coming in at 0.5% versus 0.4% expected. Finally, Nondefense Capital Goods ex-Aricraft rose 0.7% versus 0.1% expected. The US PCE report on Friday will be in the spotlight. The headline PCE is estimated to show an increase of 0.4% MoM, while the Core CPE is projected to rise by 0.3% MoM. The pound faces pressure near US$1.2650 against the US Dollar in Tuesday’s early American session as the latter rebounds. The GBP/USD pair exhibits falls as investors expect that the Bank of England will be more dovish this year than previously anticipated, driven by lower-than-anticipated inflation data in January and February. A senior Bank of England policymaker has warned that financial markets are expecting too many interest rate cuts this year and that the UK central bank is unlikely to move before the US Federal Reserve. Catherine Mann, an external member of the Bank’s rate-setting monetary policy committee (MPC), said there were risks that UK inflation could persist at higher levels than in the US or the eurozone. Last month the Bank’s monetary policy committee voted by a majority to keep interest rates at the current level of 5.25%, the highest level since the 2008 financial crisis. Expected RangesAUD/USD: 0.6430 - 0.6630 ▼AUD/EUR: 0.5920 - 0.6120 ▼GBP/AUD: 1.9200 - 1.9400 ▲AUD/NZD: 1.0760 - 1.0960 ▲AUD/CAD: 0.8760 - 0.8960 ▼

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  • Forex Today: Cocoa Futures Break $9,000 for Record High

    Mar 26, 2024 | 00:38 am

    Cocoa Futures Gain 8% in a Day; US Stocks, Gold Remain Bullish; Japanese Officials Try to Talk Up Yen; Bitcoin Rises Above $70k Despite Record Crypto Fund Outflows

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  • Aussie dollar continues to trade above US$0.65

    Mar 25, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is slightly stronger this morning when valued against the Greenback, currently trading at US$0.6538 at the time of writing. Yesterday, The Aussie dollar bounced off last Friday’s low of US$0.6508 and is climbing but faces a key resistance level at US$0.6550. The Australian dollar receives upward momentum as the ASX 200 Index extends its winning streak, led by gains in the mining and energy sectors. Additionally, the Aussie dollar is bolstered by a stronger Chinese yuan (CNY), with the People's Bank of China (PBoC) setting the mid-rate for the onshore yuan significantly higher than expected. Looking ahead today, we will see the Westpac Consumer Sentiment a survey of about 1,200 consumers that asks respondents to rate the relative level of past and future economic conditions, employment and climate for major purchases. On Wednesday, all eyes will be on the Australian Bureau of Statistics monthly release of Consumer Price Index (CPI) which is expected to rise from 3.4% to 3.5%. 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. Finally, on Thursday we will see the release of the monthly Retail Sales figures. Key Movers Overnight the Pound sterling had a mild recovery against the Greenback in the mid-North American session, as the Greenback remains offered amid speculations the Federal Reserve (Fed) would cut rates in June. At its March meeting last week, the Fed held the benchmark rate to the 5.25%-5.5% range. After that meeting, Fed Chairman Jerome Powell emphasized that policymakers are likely to cut interest rates later this year. Still, only once they have greater confidence that inflation is moving toward its 2% target. At the time of writing, the GBP/USD trades at 1.2635. gains 0.32%. On the data front, US housing data was weaker than expected as New Home Sales slumped 0.3%, with sales coming at 0.662 million, below estimates of  0.675 million and January’s 0.664 million. Elsewhere, the Chicago Fed announced the National Activity Index saw improvement, moving from -0.54 to 0.05, with positive developments across all four index categories. The tiny decline registered was likely owed to an uptick in mortgage rates during the month. According to Freddie Mac, the average 30-year mortgage rate rose to 6.8% in February, from 6.6% the month prior. Moving forward, a structural shortfall of available single-family homes and home builders' ability to bridge the affordability gap with price incentives, should continue as tailwinds and support an improving sales pace this year. Expected RangesAUD/USD: 0.6440 - 0.6640 ▲AUD/EUR: 0.5930 - 0.6130 ▲GBP/AUD: 1.9200 - 1.9400 ▼AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8800 - 0.9000 ▲

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  • Aussie dollar holds above US$0.65

    Mar 24, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback currently trading at 0.6508 at the time of writing. The Aussie dollar traded back down at the bottom of its multi-week range in the lower 0.6500s on Friday, after positive US data led to a reversal in the pair from its 0.6635 Thursday highs. On the data front last week the Unemployment Rate fell to 3.7% from 4.1% in February, and the number of new employees hit 116,500, a number well above the average. Both data points beat expectations of 4.0% and 40,000 respectively. A deeper dig into Australia’s labor market statistics and seasonal effects, however, suggests the incredible data in February obscured a much more modest underlying trend. Looking ahead this week and on Tuesday we will see the Westpac Consumer Sentiment a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases. On Wednesday all eyes will be on the Australian Bureau of Statistics monthly release of Consumer Price Index (CPI) which is expected to rise from 3.4% to 3.5%. 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. Finally, on Thursday we will see the release of the monthly Retail Sales figures. Key Movers In the US on Friday the S&P Global Services PMI exhibited a slight decline in March, dropping to 51.7 from 52.3, slightly below the expected reading of 52.0. Conversely, the Manufacturing PMI increased to 52.5, surpassing expectations of 51.7 and the previous figure of 52.2. However, the Composite PMI showed a slight dip to 52.2 from the previous 52.5. The Dow Jones Industrial Average (DJIA) was forced into the low side around three-quarters a percent as US equities drifted in multiple directions on Friday. Most of the US equity market’s major sectors were in the red on Friday, with Real Estate down around 1.25%, closely followed by the Financial Sector which fell 1.21%. The Communications Services Sector closed up around 0.85% as telecoms rebounded from recent selling pressure. The US economy is holding resilient with a strong labor market and inflation remaining sticky. Next week, February’s Personal Consumption Expenditures (PCE) will provide additional guidance to markets. The Pound Sterling remains vulnerable against the US dollar in Friday’s early New York session as the market sentiment is quite bearish. The GBP/USD pair fails to find support as increasing expectations that the Bank of England (BoE) will cut interest rates this year outweigh February Retail Sales data, which broadly beat market expectations. The United Kingdom Office for National Statistics (ONS) reported that monthly Retail Sales were unchanged after increasing by a significant 3.6% in January, a figure that was upwardly revised from 3.4%. Investors had anticipated sales to decline by 0.3%. On an annual basis, sales contracted by 0.5% against expectations of a 0.7% decline. The GBP/USD pair is currently trading at 1.2558 at the time of writing. Expected RangesAUD/USD: 0.6400 - 0.6600 ▼AUD/EUR: 0.5900 - 0.6100 ▼GBP/AUD: 1.9150 - 1.9350 ▲AUD/NZD: 1.0650 - 1.0850 ▼AUD/CAD: 0.8750 - 0.8950 ▼

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  • Aussie dollar trades back down below US$0.66

    Mar 21, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback, currently trading at 0.6569 at time of writing. The Aussie dollar reached a high of 0.6634 yesterday, but traded back down at the lows of the day, during the US session on Thursday, after a batch of relatively strong American data helped the US dollar (USD) claw back lost ground. On the data front yesterday a shock surge in employment last month has seen the unemployment rate tumble back to levels not seen since September last year. The unemployment rate has dropped back to 3.7 per cent with more than 116,000 extra Australians in employment last month, compared with January, according to seasonally adjusted data from the Australian Bureau of Statistics (ABS). The estimated 116,500 increase in employment was the biggest monthly jobs gain since the east coast COVID lockdowns ended in November 2021, and the largest on record outside of the pandemic period. Economists were generally expecting about 40,000 extra people to be employed last month and an unemployment rate of 4 per cent. Markets are currently pricing in an 80 per cent chance of rates falling by August, while a rate cut by September is almost fully priced in, however any rate move before then is seen as very unlikely. Looking ahead today and the Reserve Bank of Australia (RBA) will release the Financial Stability Review. It's an assessment of conditions in the financial system and potential risks to financial stability, the evidence on strains and imbalances can provide insight into the future of monetary policy. Key Movers In the US, overnight we saw the release of US PMI data for March, Initial Jobless Claims and the Philadelphia Fed Manufacturing Index, which all supported the USD. Business activity in the US private sector continued to expand at a healthy pace in early March, with the S&P Global Composite PMI coming in at 52.2. This reading came in slightly below the February's 52.5. S&P Global Manufacturing PMI improved to 52.5 from 52.2 in the same period, while S&P Global Services PMI edged lower to 51.7 from 52.3. The latest Philadelphia Fed manufacturing index remained in positive territory for a second straight month, indicating continued expansion. In March, the index inched down to 3.2 from 5.2 in February, coming in above the forecast of -2.6. In the latest report the index remained in positive territory for a second straight month. This is only the fourth positive reading for the index in the past 22 months. In other words, the index has had 18 negative readings in the past 22 months, which more closely resembles those periods during recessions. While the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, sales of previously owned homes increased by the most in a year in February, signs the economy remained on solid footing in the first quarter. Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 210,000 for the week ending March 16, the Labor Department said. Economists polled by Reuters had forecast 215,000 claims in the latest week. Claims have been mostly bouncing around a 200,000-213,000 range since February. Despite a flurry of high-profile layoffs at the start of the year, employers have largely been hoarding labour after struggling to find workers during and after the COVID-19 pandemic. Expected RangesAUD/USD: 0.6465 - 0.6665 ▼AUD/EUR: 0.5940 - 0.6140 ▼GBP/AUD: 1.9140 - 1.9340 ▲AUD/NZD: 1.0750 - 1.0950 ▲AUD/CAD: 0.8780 - 0.8980 ▼

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  • United States Federal Reserve Holds Interest Rates, Remains Cautious

    Mar 21, 2024 | 04:26 am

    The Federal Reserve left interest rates unchanged for a fifth straight time at its meeting on March 20. The US dollar fell against the major currencies following the announcement.

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  • Forex Today: Fed Says 3 Rate Cuts in 2024, Stocks, Gold Boom

    Mar 21, 2024 | 00:07 am

    Fed Gives Dovish Surprise by Forecasting 3 Cuts in 2024; Markets Await BoE, SNB; Gold, Stock Markets Reach Record Highs; Japanese Yen Regains Ground; Bitcoin Pares Losses; UK CPI Falls

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  • Forex Today: Markets Await FOMC Meeting

    Mar 20, 2024 | 00:06 am

    FOMC Expected to Leave Rate at 5.50%; Japanese Yen Continues to Fall After BoJ; Bitcoin Weaker; Markets Await UK Inflation Data, New Zealand GDP

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  • Forex Today: Bank of Japan Ends Negative Interest Rates

    Mar 19, 2024 | 00:26 am

    BoJ Makes First Rate Hike Since 2007, Japanese Stocks Rally, Yen Weakens; RBA Leaves Rates at 4.35%; Cocoa Futures Slightly Lower After Record High Yesterday; Bitcoin Weaker; Markets Await Canadian Inflation Data

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  • Forex Today: Markets Expecting First BoJ Rate Hike in 17 Years

    Mar 18, 2024 | 00:19 am

    90% Expect BoJ to Ditch Negative Rates Policy Tuesday, Japanese Stocks Rallying; Bitcoin Rising After Another Record High Thursday; Cocoa Futures Roar Ahead With Dramatic Gains

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  • Forex Today: Markets Await US PPI

    Mar 14, 2024 | 00:24 am

    US PPI Expected at 0.2%; Bitcoin Makes Another Record High Above $73,000; Cocoa Futures Roar Ahead.

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  • Forex Today: US Inflation Ticks Higher to 3.2%

    Mar 12, 2024 | 23:29 pm

    US CPI Rises Unexpectedly; S&P 500 Makes Record High Close; Bitcoin Makes All-Time High Above $73,000

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  • US Inflation Rises Unexpectedly to 3.2%

    Mar 12, 2024 | 07:02 am

    The US consumer price index (CPI) climbed 3.2% year-on-year in February, up from 3.1% in January and above the market estimate of 3.1%.

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  • Forex Today: Markets Expecting Unchanged US Inflation Data

    Mar 12, 2024 | 01:03 am

    US CPI Seen at 3.1%; Bitcoin Hits New Record Below $73,000; Gold’s Bullish Momentum Starts to Pause

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  • Forex Today: Gold, Bitcoin Looking Bullish Near Friday’s Record Highs

    Mar 11, 2024 | 00:17 am

    Gold, Bitcoin Advancing Again; Yen Higher on Japanese Rate Hike Bets and GDP Growth

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  • ECB Maintains Interest Rates, Revises Lower Inflation Forecast

    Mar 7, 2024 | 14:06 pm

    The European Central Bank (ECB) maintained its deposit rate at a record high of 4.00% at today’s policy meeting. This decision was widely expected, and the Euro’s response has been muted.

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  • Forex Today: Gold Makes New Record High Above $2161

    Mar 6, 2024 | 23:41 pm

    Gold Powers to New All-Time High; Powell Says Inflation Progress Not Assured; Japanese Rate Hike Seen Likely as Wages Rise; Bank of Canada Holds Rates; Markets Await ECB Meeting

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  • Forex Today: Gold, Bitcoin Set New Record Highs

    Mar 5, 2024 | 23:18 pm

    Gold & Bitcoin Briefly Reach New All-Time Highs, Bitcoin Plunges Then Recovers; Markets Await Fed Chair Powell Testimony; Bank of Canada Expected to Hold Rates

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  • Forex Today: Bitcoin Retreats Just Shy of Record High

    Mar 5, 2024 | 01:01 am

    Bitcoin Makes New 2-Year High Just Below $69,000; WTI Crude Oil Retreats From Key Resistance Near $80.50; Swiss Inflation Ticks Higher; Markets Await Fed Chair Powell Testimony

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  • Forex Today: Major Stock Markets Advance to Record Highs

    Mar 4, 2024 | 00:14 am

    NASDAQ, S&P 500, DAX, Nikkei 225 All Reach All-Time Highs; Bitcoin Makes New 2-Year High; WTI Crude Oil Trying to Break Key Resistance Around $80.50; Swiss CPI Data Due Later

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  • Forex Today: Bitcoin Powers to New 2-Year High Above $63,000

    Feb 28, 2024 | 23:35 pm

    Bitcoin Strongly Bid, Advancing to Long-Term Record Price; Yen Gains as Bank of Japan Signals Policy Shift Coming Closer; Fed Officials Say Data Will Guide Rate Path

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  • New Zealand Central Bank Maintains Rates, New Zealand Dollar Slides

    Feb 28, 2024 | 02:54 am

    The Reserve Bank of New Zealand (RBNZ) held the cash rate at 5.50% at today’s meeting.

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  • Forex Today: Kiwi Lower on RBNZ Dovish Tilt

    Feb 27, 2024 | 22:48 pm

    RBNZ Less Hawkish on Inflation, Sinking Kiwi; Australian Inflation Lower than Expected; US Preliminary GDP Data Release Later

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  • Forex Today: Nikkei 225 Index Breaks Another Record

    Feb 25, 2024 | 23:17 pm

    Nikkei 225 Index Reaches New High Price; Yen Volatility Falling

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  • Forex Today: FOMC Minutes Show Fed Go Slow on Rate Cuts

    Feb 21, 2024 | 23:14 pm

    FOMC Minutes Show More Progress Needed on Inflation; Nikkei 225 Index Reaches Record High; Stocks Mostly Higher After FOMC Release

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  • Forex Today: Canadian Inflation Falls Faster

    Feb 20, 2024 | 23:13 pm

    Canadian CPI at 2.9%; Markets Await FOMC Minutes; Australian Wage Price Index Data as Expected.

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  • Inflation in Canada Falls to 2.9% in January

    Feb 20, 2024 | 20:41 pm

    Canada’s Consumer Price Index (CPI) dropped to 2.9% year-on-year in January.

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  • Forex Today: RBA Minutes Show Rate Hike Was Considered

    Feb 19, 2024 | 23:13 pm

    RBA Minutes Justify Rates Pause; Yen Weakens; Markets Await Canadian Inflation Data.

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  • Forex Today: Bitcoin Threatens High Price

    Feb 18, 2024 | 23:15 pm

    Bitcoin Rising Firmly; Global Stocks Mixed; Cocoa Futures Sell Off

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  • Forex Today: UK in Recession

    Feb 14, 2024 | 23:19 pm

    UK GDP Down 0.3% in Last Quarter; Global Stocks Rebound; Bitcoin Makes New High Above $52,000

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  • Forex Today: UK Inflation Unchanged at 4.0%

    Feb 13, 2024 | 23:17 pm

    UK Inflation Slightly Lower Than Expected; US Inflation Falls to 3.1%; Dollar Advances to 3-Month High, S&P 500, NASDAQ 100, Dow Jones 30 Sell Off; Bitcoin Testing $50k; Swiss Inflation Weaker Than Expected

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  • US Inflation Drops to 3.1% but Higher than Expected

    Feb 13, 2024 | 10:44 am

    The US consumer price index (CPI) climbed 3.1% year-on-year in January, down from 3.4% in December and above the market estimate of 2.9%.

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