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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.

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USD/CAD: A hot Canadian employment/wage report sends the loonie higher
BOC rate hike odds for the October 25th meeting rise from yesterday's 23.9% to  28.8% Hours worked climbed to the highest level since February CAD futures open interest rise to best levels since mid-March Canada’s economy isn’t quite ready to cool.  The latest Canadian employment report showed hiring bounced back in August, doubling expectations. The near 40,000 added jobs exceeded the 17,500 consensus estimate and proved that the prior month’s unexpected shedding of jobs was not the beginning
08-09-2023 10:42 GMT by Edward Moya
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Week Ahead - US inflation key, ECB ponders rate pause, UK labor market data
This week is all about the US CPI report and retail sales data. If the US demand for goods didn’t weaken that much and if inflation heated up, rate hike expectations for the November meeting might become the consensus.  The inflation report might not be as clear as headline inflation will obviously rise given the surge in gasoline prices, but core might deliver another subdued reading.
08-09-2023 09:57 GMT by Craig Erlam
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Euro edges higher, German CPI unchanged
German inflation dips to 6.1% The data calendar is light on Friday and EUR/USD is trading at 1.0707 in Europe, up 0.09%. There are no tier-1 events out of the eurozone or the US, which means we can expect subdued movement from the euro for the remainder of the day. The euro is poised to record a losing week for an eighth straight time.
08-09-2023 08:59 GMT by Kenneth Fisher
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USD/JPY headed for a losing week
USD/JPY has edged higher, trading at 147.46 in Europe, up 0.11%. On Thursday, USD/JPY rose as high as 147.87, close to the symbolic 148 line which has held since October 2022. Investors continue to focus on Japanese inflation releases, which indicate that inflation is above the Bank of Japan's target of 2%.
08-09-2023 07:46 GMT by Kenneth Fisher
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Canadian dollar steady ahead of jobs report
Canada expected to have shed 6,400 jobs BoC's Macklem says rate increases may be needed to lower inflation The Canadian dollar is steady on Friday in what should be a busy day. In the European session, USD/CAD is trading at 1.3670, down 0.12%.
08-09-2023 05:34 GMT by Kenneth Fisher
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GBP/USD extends losses after weak housing data
British pound falls to 3-month low against US dollar UK house prices fall sharply BoE's Bailey is non-committal about September rate decision The British pound has extended its losses on Thursday. In the North American session, GBP/USD is trading at 1.2472, down 0.28%.
07-09-2023 12:57 GMT by Kenneth Fisher
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GBP/USD: Pound slide extends to the 200-day SMA
UK home prices plunge 4.6% in the year up to August, worst y/y drop since 2009 UK businesses expected to deliver smallest price rise since February 2022 GBP underperforms as BOE rate hike expectations shrink; implied rate peak at 5.699%  vs 5.671% on Sept 1st GBP/USD (a daily chart of which is show) has steadily weakened this month, now falling below the 1.25000 level.  This occurs within the context of a strong accelerated downtrend extending originally from the 1.3140 area highs in July.  The
07-09-2023 12:36 GMT by Edward Moya
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USD/JPY: Yen firms up as risk aversion flows grow on rate fears and rising US-China tensions
US weekly jobless claims drop to lowest levels since February Apple shares slide as China's crackdown on iPhone use grows; Losing over $200 billion in market value BOJ's Nakagawa reiterates stance that BOJ and gov't are monitoring FX rates and impact on economy The US dollar index hit its highest level since March as risk aversion runs wild on higher interest rate fears and as global growth concerns spread to the US.  The dollar is poised to have an eight straight week of gains, but that is som
07-09-2023 11:36 GMT by Edward Moya
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BoC hold rates, Canadian dollar hits 5-month low
Bank of Canada holds rates at 5.0% US ISM Services PMI hits 6-month high The Canadian dollar has edged lower on Thursday. In the European session, USD/CAD is trading at 1.3662, up 0.20%. Bank of Canada holds rates at 5.0% The future markets had priced in a hold from the Bank of Canada at a massive 94%, and there were no surprises as the central bank maintained the benchmark cash rate at 5.0%, after back-to-back increases.
07-09-2023 09:24 GMT by Kenneth Fisher
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Japanese yen takes aim at 148
The Japanese yen is slightly higher on Thursday. In the European session, USD/JPY is trading at 147.39, down 0.19%. The yen can't seem to find its footing and has dropped close to 1% this week.
07-09-2023 07:31 GMT by Kenneth Fisher
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GBP/USD - Sinks to three-month low after BoE monetary policy report hearing
Dovish BoE commentary weighs on the pound Two more rate hikes are still heavily priced in Major support below around the 200/233-day SMA band The monetary policy report hearing can often be a much-hyped but ultimately anti-climactic event, with policymakers sticking to the script whenever possible and the Treasury Select Committee frequently blurring the lines between politics and central banking. While that was probably largely true today, it was interesting that Governor Bailey and his
06-09-2023 17:40 GMT by Craig Erlam
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USD/CAD rally resumes as BOC seen holding rates and amid US economic resilience
Bank of Canada keeps rates on hold(as expected), continues quantitative tightening Fed rate hike odds for the November meeting rise from yesterday’s 39.3% to 49.5% BOC rate hike odds for October 25th seen at 31.1%, with December 6th having a 18.9% chance USD/CAD (daily chart) as of Wednesday (9/6/23) has continued its significant bullishness from last week by surging above key resistance that has been in place since the spring.  The simultaneous release of the BOC decision and US ISM services
06-09-2023 12:43 GMT by Edward Moya
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EUR/USD: Shrugs off hawkish ECB speak; dollar firms after impressive ISM services report
US ISM Services Index unexpectedly surges to a six-month high, boosted on robust new orders and strong hiring ECB's Kazimir prefers a September rate to later and Knot thinks markets underestimating September rate hike chance Euro looks vulnerable to lose all of 2023 gains The dollar’s rise is starting to unnerve everyone.  Last night, both Japanese and Chinese officials attempted to thwart the greenback's rally, but weren’t effective.
06-09-2023 11:21 GMT by Edward Moya
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USD/CAD rises to 22-week high, BoC decision looms
Bank of Canada expected to hold rates at 5.0% US to release ISM Services PMI USD/CAD is trading quietly in Europe at 1.3651, up 0.06%. I expect to see stronger movement in the North American session, with the Bank of Canada making its rate announcement and the US releasing the ISM Services PMI which is expected to show little change. Bank of Canada widely expected to hold rates The Bank of Canada is virtually certain to hold rates at today's meeting, with just a 6% probability of a rate hike,
06-09-2023 06:30 GMT by Kenneth Fisher
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Australian dollar steadies after solid GDP
Australian GDP unchanged at 0.4% RBA holds rates at 4.10% The Australian dollar has edged higher on Wednesday, after sustaining sharp losses a day earlier. In the European session, AUD/USD is trading at 0.6391, up 0.19%. Australia's GDP holds steady in Q2 The Australian economy grew by 0.4% q/q in the second quarter, unchanged from the upwardly revised reading in the first quarter and matching the consensus.
06-09-2023 04:55 GMT by Kenneth Fisher
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USD/JPY Technical: Aroused FX verbal intervention, watch 147.90 and 147.20 intraday
USD/JPY has risen the most among the majors in the past month. The current swift up move of USD/JPY has prompted FX verbal intervention today from Japan’s Ministry of Finance. The current tonality of verbal intervention is the strongest since mid-August 2023 that occurred when the current upward trajectory of USD/JPY is fast approaching a key medium-term resistance zone of 148.40/148.85. Short-term upside momentum has started to wane. This is a follow-up analysis of our prior report, “USD/JPY
06-09-2023 01:48 GMT by Kelvin Wong
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USD/CAD eyes key resistance at 1.3700, pares losses on OPEC driven oil price surge
Loonie pares losses alongside oil price surge Oil rises on OPEC+ action, but may remain a choppy trade on global growth concerns and rising Non-OPEC production $100 oil risk will remain on table throughout the winter USD/CAD Daily Chart After having its worst slide in a month, the Canadian dollar continues to weaken as investors digest the surprise Canadian contraction in the second quarter.   BOC rate hike bets are fading away but an outperformance with European currencies could limit the dow
05-09-2023 11:48 GMT by Edward Moya
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