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.

Oil creeps higher, gold paring losses, bitcoin consolidates

Edging higher but growth concerns remain Oil prices are nudging higher after paring recent gains so far this week. There are two dominant forces in the oil market at the moment; the economic outlook being the primary downside risk and OPEC+ the upside.

12-10-2022 09:55 GMT by Craig Erlam

US Open: Stocks drop as yields rise, IMF warning, Chip stocks crushed on curbs, King Dollar advance stalls, Crude lower on demand fears, Gold still vulnerable, Bitcoin holds onto $19k for now, Google partners with Coinbase

Tech stocks are hovering near 2-year lows on bond market chaos and expectations for a gloomy earnings season. Investors are nervous after this week's inflation data, Fed tightening calls will demand for more aggressive hikes beyond November and that we could be seeing another major round of selling. The IMF slashed their global growth outlook and warned that the ‘worst is yet to come’.

11-10-2022 09:54 GMT by Edward Moya

AUD/USD falls to new 18-month low

AUD/USD continues to lose ground and can't find its footing. The Aussie started the week on the wrong foot, with a decline of 1.0% on Monday.

11-10-2022 05:45 GMT by Kenneth Fisher

Will GDP shake up GBP/USD?

GBP/USD is trading quietly for a second straight day. In the North European session, GBP/USD is trading at 1.1035, down 0.18%. The pound has not posted a winning day since October 12th and has lost 400 points during that time.

11-10-2022 04:39 GMT by Kenneth Fisher

Increasingly pessimistic

European stock markets are poised for another weak open as much of Asia reopened on Tuesday to large declines. Asia is flashing red as it nears the close and Europe may be facing a similarly bleak day. JP Morgan CEO Jamie Dimon didn't hold back in his assessment of the economic outlook, adding to the warnings of the IMF and World Bank, among many others.

11-10-2022 03:20 GMT by Craig Erlam

Oil eases, gold takes a tumble

Oil eases amid more recession warnings Oil prices are paring recent gains for the second day as the IMF and World Bank warn of an increased risk of a global recession. Those warnings won't come as an enormous surprise given the immense economic headwinds as a result of the pandemic and Russia's invasion of Ukraine, not to mention the baffling decision by OPEC+ last week to cut output by two million barrels per day which will only add to them. Oil prices rose around 20% from their September lows

11-10-2022 03:16 GMT by Craig Erlam

Oil still pushing, Gold slides, bitcoin struggles

Oil higher despite weak Chinese PMI Oil prices are continuing to edge higher at the start of the week, albeit at a much slower pace with Brent now not far from $100 a barrel. OPEC+ may be comfortable with that after slashing output targets by two million barrels per day but I'm not sure anyone else will be. The Chinese PMI data overnight highlighted the challenges facing the world's largest crude importer as it tries to balance its zero-Covid policy with economic growth.

10-10-2022 12:56 GMT by Craig Erlam

NFP react: labor market remains robust, Fed can stick to hawkish shtick, dollar strength, cryptos soften post jobs data

US stocks tumbled as job strength remains, which means we most likely won’t be seeing a Fed downshift at the next FOMC meeting in November. Treasury yields rose alongside the US dollar after another solid nonfarm payroll report. The risks of the Fed remaining aggressive with the tightening of monetary policy still remains on the table.

07-10-2022 09:58 GMT by Edward Moya

Week Ahead - Earnings season is back

US It is now all about inflation data. The focus was temporarily on the labour market but everyone knows that the Fed is primarily concerned with what is happening with inflation. Wall Street will first get a look at producer prices on Wednesday and then CPI the next day. August data showed high inflation remains well-entrenched as shelter and food prices surged, while gas prices softened.

07-10-2022 09:55 GMT by Craig Erlam

Canadian dollar dips after job reports

USD/CAD has edged higher today. In the North American session, the Canadian dollar is trading at 1.3712, down 0.25%. Canada's Ivey PMI, a key barometer of the strength of the economy, underperformed in September.

07-10-2022 09:21 GMT by Kenneth Fisher

Euro dips after solid US jobs report

EUR/USD is unchanged today after a nasty two-day slide, trading at 0.9792 in the European session. The euro flirted with the symbolic parity line on Wednesday, but then plunged 200 points. German retail sales underperforms Germany wrapped up the week with soft data, although the euro shrugged off the weak numbers.

07-10-2022 08:45 GMT by Kenneth Fisher

USD/JPY eyes US nonfarm payrolls

USD/JPY has been hovering close to the 145 line most of the week, and the trend has continued today. In the European session, USD/JPY is trading at 144.81, down 0.21%. The US releases nonfarm payrolls later today.

07-10-2022 04:29 GMT by Kenneth Fisher

Caution ahead of US jobs data

Equity markets are on course to spend a third day in the red despite a strong start to the week as investors adopt a cautious approach ahead of the US jobs report. Amid all of the chaos this week, investors have always had one eye on the jobs report later today. Even earlier in the week when equity markets were rallying strongly, there was always a sense that the jobs report could spoil the party. And not because it could point to cracks appearing in the labour market; quite the opposite in fact

07-10-2022 03:27 GMT by Craig Erlam

Gold - Running into resistance

OANDA Senior Market Analyst Craig Erlam discusses the recent recovery in gold and questions whether it will continue.

06-10-2022 16:15 GMT by Craig Erlam

GBP/USD slides after Fitch's downgrade

GBP/USD is down sharply today. In the North American session, GBP/USD is trading at 1.1150 down a massive 1.58%.

06-10-2022 10:40 GMT by Kenneth Fisher

Relief rally already struggling

Equity markets have erased early gains to trade in the red on Thursday, as investors take a cautious approach ahead of Friday's jobs report. The narrative in recent days of weaker data being positive as it could be a precursor to slower tightening didn't seem sustainable and it's already proving to be the case. I think it was more a reflection of the steep sell-off in the markets and the performance of risk assets in general over the six weeks previous, rather than the data.

06-10-2022 09:31 GMT by Craig Erlam

OPEC cuts production, gold pares gains

OPEC+ boosts oil prices after large cut Oil prices are edging lower today after OPEC+ announced a huge production cut on Wednesday of two million barrels per day. With the group failing to hit output targets by a widening margin as the year has progressed, the net cut will be around half that, if not less, but that's still a substantial reduction in an already tight market. Of course, the global economy is slowing as a result of an inflation and interest rate shock - which soaring oil prices and

06-10-2022 09:19 GMT by Craig Erlam

Canadian dollar eyes Ivey PMI, job report

The Canadian dollar has posted considerable losses today. USD/CAD is trading at 1.3688, up 0.49%. Canada releases Ivey PMI for September later today, with the markets anticipating another solid release.

06-10-2022 09:01 GMT by Kenneth Fisher

NZD/USD tumbles despite RBNZ hike

NZD/USD started the day with gains but has reversed directions and is sharply lower in the North American session. The New Zealand dollar is trading at 0.5657, down 1.38%. RBNZ raises rates by 0.50% As expected, the Reserve Bank of New Zealand delivered a 0.50% hike, bringing the benchmark to 3.50%, its highest level since 2015.

06-10-2022 07:08 GMT by Kenneth Fisher

Aussie steady as retail sales match consensus

AUD/USD started the week with huge gains, but has been in calm waters since then. In the European session, the Australian dollar is trading at 0.6478, up 0.17%. Retail sales points to slowing economy The RBA's sharp tightening is having an effect on economic growth.

06-10-2022 05:19 GMT by Kenneth Fisher

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