Forex: all news & analysis

Explore our comprehensive Forex Archive, an essential resource that provides expert insights on price movements, trends, and the currency market. By analysing past price actions and key events, you can uncover vital market dynamics and elevate your understanding of effective trading strategies. Whether you're focusing on major currency pairs or emerging markets, our archive is packed with information to help you sharpen your trading decisions.

British pound rises as consumer confidence rises, US inflation falls

The British pound is higher on Friday. In the North American session, GBP/USD is trading at 1.2751, up 0.34%. UK consumer confidence rises The UK consumer remains in a sour mood but the pessimism eased in January.

26-01-2024 09:14 GMT by Kenneth Fisher

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Hedging the Markets - EUR/USD edges lower after "dovish" ECB (video)

OANDA Senior Market Analyst Craig Erlam looks at how EURUSD responded to the ECB announcement and press conference and what markets took from it.

26-01-2024 09:05 GMT by Craig Erlam

Euro edges higher as markets digest ECB pause

The euro is in positive territory on Friday. In the European session, trading at 1.0846 in the European session. ECB maintains interest rates To nobody's surprise, the European Central Bank left its benchmark rate unchanged at 4.0% on Thursday.

26-01-2024 06:37 GMT by Kenneth Fisher

USD/JPY steady after Tokyo Core CPI falls below 2%

The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 147.80, up 0.10%. Tokyo Core CPI falls to 1.6% Tokyo Core CPI reached a significant milestone today, falling to 1.6% y/y in January, after a December reading of 2.1%.

26-01-2024 04:09 GMT by Kenneth Fisher

GBP/USD - Is cable topping out as US data outperforms again?

US GDP rises 3.3% (annualized) in Q4 A fairytale outcome for the US economy GBPUSD drifts lower US economic data continues to point to an economy that's doing very well despite the various headwinds including very high interest rates. GDP data for the fourth quarter easily exceeded expectations, rising 3.3% on an annualized basis, adding to the increasing view that the US could be heading for a fairytale scenario, not just a soft landing. We've spoken a lot about resilence in the US economy o

25-01-2024 12:53 GMT by Craig Erlam

EUR/USD - Drifting lower as ECB keeps cards close to its chest

ECB leaves rates on hold Lagarde still eyeing summer rate cut EURUSD consolidating after correction The European Central Bank left interest rates on hold on Thursday and claimed inflation is progressing towards its target while giving no clear guidance on when interest rates will start falling. We came into the new year with markets pricing in a March rate cut and that is now looking increasingly difficult. Even with a late pivot.

25-01-2024 11:41 GMT by Craig Erlam

USD/JPY shrugs after US GDP

The Japanese yen has edged lower on Thursday. In the North American session, USD/JPY is trading at 147.62, up 0.08%. US GDP roars with 3.3% gain The US economy continues to surprise with stronger-than-expected data.

25-01-2024 11:27 GMT by Kenneth Fisher

Canadian dollar slips after BoC decision, USD GDP looms

US to release The Canadian dollar is showing limited movement on Thursday. In the European session, USD/CAD is trading at 1.3513, down 0.08%. Bank of Canada keeps rates on hold There were no surprises from the Bank of Canada, which maintained the benchmark rate at 5% on Wednesday.

25-01-2024 07:43 GMT by Kenneth Fisher

Euro in holding pattern ahead of ECB decision

The euro is showing limited movement on Thursday. In the European session, EUR/USD is trading at 1.0895, up 0.10%. Eurozone PMIs, released on Wednesday, pointed to trouble in the manufacturing and services sectors.

25-01-2024 05:01 GMT by Kenneth Fisher

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Market Insights Podcast - Strong US PMIs, BoC holds, ECB preview

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the PMI data from the US, UK and eurozone, Bank of Canada interest rate decision, and preview tomorrow's ECB announcement.

24-01-2024 15:53 GMT by Craig Erlam

USD/CAD - Surprisingly strong US PMI surveys, BoC remains cautious

US services PMI rises to 52.9, manufacturing PMI hits 50.3 BoC holds rates USDCAD recovery stalls US economic data was surprisingly strong today, with both the services and manufacturing PMIs comfortably exceeding expectations and reinforcing the message that the economy is in good shape, even getting better. Of course, these are just surveys and can be volatile but the fact both jumped as much as they did and both are now in growth territory is very promising for the economy

24-01-2024 12:10 GMT by Craig Erlam

USD/CAD eyes Bank of Canada decision

Bank of Canada expected to pause US to release manufacturing, services PMIs The Canadian dollar is showing limited movement on Wednesday. In the North American session, USD/CAD is trading at 1.3436, down 0.19%. Bank of Canada expected to pause The Bank of Canada will announce its first rate decision of 2024 later today.

24-01-2024 09:31 GMT by Kenneth Fisher

Japanese yen surges on hawkish BoJ

The Japanese yen has posted massive gains on Wednesday. In the North American session, USD/JPY is trading at 146.94, down 0.96%. Yen rises on Ueda's hawkish comments The Bank of Japan didn't have any surprises up its sleeve at yesterday's meeting.

24-01-2024 08:43 GMT by Kenneth Fisher

EUR/USD - Rallies despite continued weakness in eurozone PMIs

Eurozone data remains recessionary EURUSD rebounds after surveys Is it just a corrective rally? The data from the eurozone isn't improving early in the new year, with the latest PMI surveys all remaining firmly in contraction territory. While we're continuing to see improvements in the manufacturing survey, that comes from a very low base and still some way from the 50 threshold that separates growth from contraction. And it doesn't appear on course to breach that threshold any time soon. The

24-01-2024 08:33 GMT by Craig Erlam

New Zealand dollar extends gains as inflation falls

New Zealand CPI fall to 4.7% New Zealand dollar rises The New Zealand dollar has posted strong gains on Wednesday. In the European session, NZD/USD is trading at 0.6132, up 0.49%. New Zealand CPI eases to 4.7% New Zealand's inflation rate was expected to slow in the fourth quarter and the estimates were right on the money.

24-01-2024 05:24 GMT by Kenneth Fisher

NZD/JPY: JPY crosses under downside pressure after BoJ’s hawkish guidance

Japanese Government Bond (JGB) yields on the upmove ex-post BoJ. Positive yield premium shrinkage (JGB over the rest of the world) may put further downside pressure on JPY crosses carry trades. Watch NZD/JPY where RBNZ may reduce its hawkish rhetoric reinforced by NZ Q4’s soft inflation data. This is a follow-up analysis of our prior report, “BoJ poised to offer guidance on the removal of short-term negative rates may spark JPY strength” published on 22 January 2024. Click here for a recap.

24-01-2024 01:12 GMT by Kelvin Wong

Euro steady, eyes PMIs

The euro is showing limited movement on Tuesday. In the North American session, EUR/USD is trading at 1.0866, down 0.15%. Eurozone, German PMIs expected to remain in contraction The eurozone economy is sputtering and the road to recovery is likely to be a long one.

23-01-2024 09:41 GMT by Kenneth Fisher

NZD/USD stems slide, inflation next

New Zealand Services PSI eases to 48.8 New Zealand inflation expected to ease to 0.5% The New Zealand dollar has edged higher on Tuesday. In the North American session, NZD/USD is trading at 0.6086, up 0.17%. New Zealand's economy has struggled in the fourth quarter and a soft services release won't help things.

23-01-2024 09:17 GMT by Kenneth Fisher

GBP/JPY - Remains near highs as the BoJ stands pat in January

BoJ leaves the policy rate unchanged at -0.1% Maintains 10-year JGB yield target around 0% with a flexible buffer of 1% GBPJPY hangs around recent highs despite hints at future rate moves The Bank of Japan opted to leave interest rates and its yield curve control policy unchanged today, indicating a decision on negative rates may come at one of the upcoming meetings. It was always likely that no decision would be taken today as the central bank awaits the outcome of the spring wage negot

23-01-2024 08:50 GMT by Craig Erlam

Japanese yen pares gains after BOJ meeting

The Japanese yen is slightly lower in the European session on Tuesday. USD/JPY fell 0.54% after today's BoJ policy meeting but has pared most of those gains and is trading at 147.82, down 0.18%. Bank of Japan stays pat As expected, the BoJ maintained its policy settings at today's meeting.

23-01-2024 06:23 GMT by Kenneth Fisher

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