Forex News and Rumors

Goldman Says Morgan Is All Wrong About Fed’s Quantitative Exit

Joachim Fels, co-chief global economist at Morgan Stanley, sees a risk that the Fed will keep the easiest credit since the Great Depression for too long. Ed McKelvey, U.S. economist at Goldman in New York, says those concerns are overblown, and that officials have time to deploy as many as 10 options for ending their $1.1 trillion aid to the banking system and economy without letting consumer prices climb.More

Australia’s RBA Sounds Optimistic Note, Holds Rates

Australia’s central bank kept its key cash rate steady on Tuesday, saying the economy was faring better than feared, but left the door open to further easing if a hoped-for recovery failed to materialize.
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Shock factory output fall in the UK dents recovery hopes

Hopes that the UK economy was starting to climb out of recession have been dampened by an unexpected drop in industrial and manufacturing production. Manufacturing output fell by 0.5 per cent in May, more than reversing small increases in March and April and confounding analysts’ expectations of a 0.2 per cent rise.More

Higher minimum wage coming soon in the US

The federal minimum wage is set to increase later this month as the job market shows signs of further decay. The federal minimum wage will go to $7.25 an hour on July 24 from its current level of $6.55, according to the U.S. Department of Labor.More

Stock futures signal losses as oil slips again

Wall Street was set for a lower open on Tuesday, with futures for the S&P 500, Dow Jones and Nasdaq 100 down 0.5 percent at 4:17 a.m. EDT. Oil prices edged 0.6 percent lower to $63.68 a barrel, on course for a fifth consecutive fall and longest losing streak since February, on worries about the economy that have brought the stock market rally to a halt and pushed the dollar higher.More

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza