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.

Euro rallies to 1-week high

The euro is showing some strength, after posting a winning week for the first time in a month. EUR/USD is trading at 1.0143, up 0.55% on the day. After a dramatic drop below the parity line last week, for the first time in 20 years, the euro has rebounded and is trading above the 1.01 level.

18-07-2022 05:36 GMT by Kenneth Fisher

Oil edges higher, gold steady

Oil prices edge higher Both Brent crude and WTI rose modestly on Friday as they continued to unwind the mid-week slump. In Asia, hopes of more China stimulus, and a lack of concrete production promises from President Biden’s Middle East visit have seen Brent crude prices climb in Asian trading. Brent crude finished Friday’s session 1.25% higher at USD 100.80, having tested USD 102.50 intraday.

18-07-2022 03:40 GMT by Jeffrey Halley

Wall Street rally pushes US dollar lower

US dollar retreats as Wall Street rises The US dollar fell heavily on Friday, versus the developed market space, as Wall Street's impressive rally spilt over into a broader sentiment rally in other asset classes. That saw the dollar index make a long-overdue correction lower.

18-07-2022 03:33 GMT by Jeffrey Halley

Bear market rally back on?

Wall Street rises as US data outperforms It says something about the level of confusion in the markets right now (American markets anyway), that having wrung their hands all last about inflation, 100 basis point rate hikes by the Fed, and an impending recession, that strong US Retail Sales and Michigan Consumer Sentiment on Friday saw Wall Street rally impressively. If that data had come out on Tuesday or Wednesday last week, we would probably have had a meltdown.

18-07-2022 03:02 GMT by Jeffrey Halley

Week Ahead - Rate hikes galore

Next week offers a plethora of monetary policy meetings with the ECB, BoJ, CBRT, SARB and CBR among those. Central banks have mostly been racing to raise interest rates while watching official inflation data surpass their targets multiple times over.

15-07-2022 13:12 GMT by Craig Erlam

Oil recovers, gold under pressure

Oil recovers amid soothing Fed words Oil prices are edging higher again after falling around 20% over the last month in response to increasing recession fears. Inflation data on Wednesday didn't help matters, with the market pricing in a strong possibility that the Fed moves up a gear and hikes 1% this month. That saw crude prices slip further but soothing words from Bullard and Waller reassured everyone that 75 basis points remains the base case.

15-07-2022 09:13 GMT by Craig Erlam

Aussie edges up after strong US retail sales

US retail sales better than expected The week wrapped up on a high note, as June US retail sales beat expectations. The headline and core readings both accelerated in June, with solid gains of 1.0%.

15-07-2022 09:03 GMT by Kenneth Fisher

Euro eyes US retail sales

The euro continues to trade close to the parity line, after breaking below this symbolic level during the week. It marked the first time that EUR/USD fell below parity since 2002.

15-07-2022 06:52 GMT by Kenneth Fisher

New Zealand dollar shrugs off softs Mfg. PMI

NZ Manufacturing PMI contracts The New Zealand dollar has edged higher on Friday. The currency yawned as New Zealand's Manufacturing PMI fell into contraction territory in June, for the first time since August 2021, during the last national lockdown in the country.

15-07-2022 05:37 GMT by Kenneth Fisher

Oil pares losses, gold loses ground

Oil prices are steady Both Brent crude and WTI were caught up in recession fears overnight, plummeting by four dollars a barrel at one stage in panicked New York trading. Once again, both contracts found their feet as the US dollar retreated after rate hike comments from Fed officials, finishing the day nearly unchanged after a torrid session. Brent crude finished almost unchanged at USD 99.55, adding 0.30% to USD 99.90 a barrel in Asian trading.

15-07-2022 04:45 GMT by Jeffrey Halley

Risk aversion lifts the US dollar

Recession jitters boost US dollar Currency markets had a roller-coaster session with European and US investors piling into haven US dollars from the get-go on recession fears. Weak bank earnings were another headwind and at one stage EUR/USD had fallen nearly 100 points to 0.9950.

15-07-2022 04:30 GMT by Jeffrey Halley

When a plan doesn’t come together

Markets panic over possible 1% Fed hike I only have some egg dripping from my face this morning, instead of a full dozen including shells. My view that the price action post the US inflation numbers across asset classes suggested an albeit temporary, risk sentiment rally was on the way, was in serious doubt yesterday.

15-07-2022 03:48 GMT by Jeffrey Halley

Yen tumbles to 139

The Japanese yen has been pummeled today by the US dollar. USD/JPY is currently trading at 139.22, up 1.29% on the day. Is 140 next for the yen? The US dollar is showing broad strength today, and for the yen that has meant a new 20-year low, as USD/JPY touched 139.39 earlier in the day.

14-07-2022 10:04 GMT by Kenneth Fisher

Oil falls on recession fears, gold slides

Oil tumbles as IEA revises down demand growth Oil prices are continuing to trend lower as we move towards the end of the week, with recession fears once again the driving force. The IEA alluded to economic risks in its monthly oil report, in which it downgraded demand growth this year and next by 100,000 barrels per day. The downward revision would have been larger but for the stronger rebound in developing and emerging economies led by China.

14-07-2022 09:49 GMT by Craig Erlam

Canadian dollar slides post-BoC

The Canadian dollar has posted sharp losses on Wednesday. In the European session, USD/CAD is trading at 1.3132, up 1.18%. BoC shocks with 100bp salvo The Bank of Canada has been in an aggressive mode, but nobody was expecting the massive 100bp hike on Wednesday, the largest rate increase in 24 years.

14-07-2022 07:44 GMT by Kenneth Fisher

Aussie shrugs off superb jobs report

Australian employment sparkles It has been a week of the good and the bad/ugly from Australian releases. The employment report for June, released earlier today, improved from May and easily beat expectations.

14-07-2022 06:20 GMT by Kenneth Fisher

Oil almost unchanged, gold recovers

Oil markets remain a bastion of calm I never thought I would say oil markets and bastion of calm in one sentence, but it is 2022, and anything is possible. Despite the noise seen in other asset classes from US data and central bank moves, oil was almost unchanged overnight.

14-07-2022 05:40 GMT by Jeffrey Halley

Bad medicine is what I need

Central banks deliver large rate hikes Central banks around the world have gone full Bon Jovi handing out some monetary policy bad medicine over the past 24 hours, as the fight against inflation permeates even the most ardent fence-sitters. South Korea and New Zealand hiked by 0.50% yesterday, with Canada weighing in with a crowd-pleaser sized 1.0% hike.

14-07-2022 04:33 GMT by Jeffrey Halley

Crude slumps on inflation, gold recovers

Crude slides as recession risks build The US inflation data caused shockwaves throughout financial markets, with oil also sliding on the back of the release. A recession is now the primary bear case for crude given the tightness in the market and it's clear here as much as anywhere how serious the economic risk is being taken. Both Brent and WTI are now back below USD 100, down around 20% over the last month, and they may well remain below there which would have been inconceivable in mid-June.

13-07-2022 11:45 GMT by Craig Erlam

On the ropes

Equity markets are tumbling again on Wednesday as the latest batch of inflation data delivered another heavy blow to sentiment. Every month investors eagerly await the CPI report for any sign that the inflation problem is easing and they are almost always left deflated by the data. Today feels like one of the biggest blows yet and given how aggressive the Fed is already being and the increase in recession talk in recent weeks, it's a tough one to recover from. It may not prove to be the knockout

13-07-2022 11:38 GMT by Craig Erlam

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