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 has support, gold recovers

Oil prices remain firm Oil prices have remained near multi-week highs this week, supported by surging gasoline and distillate prices in the US, and fears around an EU ban on Russian oil imports remaining in play. If markets start pricing in peak-Shanghai-lockdowns, that will be an additional supportive tailwind for oil prices. Brent crude rose by 2.45% to USD 113.85 a barrel overnight, where it remains in subdued Asian trading.

17-05-2022 05:50 GMT by Jeffrey Halley

US dollar edges lower

Modest US dollar strength in range-trading Asian session The dollar index fell again overnight, as recessionary concerns appear to be prompting the start of a long-overdue short-term correction to US dollar strength. Resistance at 105.00 held fast on Friday and overnight, the index continued its modest descent, falling 0.27% to 104.19, where it remains in Asia.

17-05-2022 05:37 GMT by Jeffrey Halley

Flip-flop

It was another night of tail-chasing overnight, this time led by Goldman Sachs who said a US recession is a real possibility and that the US dollar might fall as a result. That of course would lead to terminal Fed Funds rates sooner, so sell US dollars and buy US bonds.

17-05-2022 04:00 GMT by Jeffrey Halley

Pound yawns after Bailey warnings

The British pound is trading quietly on Monday, as the currency markets have started the week with a whimper. BoE's Bailey says dark times ahead BoE Governor Bailey testified before lawmakers earlier today, and his message was a grim one. The BoE has predicted that soaring inflation could top 10%, and Bailey today admitted that "this is a bad situation to be in". Bailey said that the Ukraine war could cause a further energy shock and that his concern about the surge in food prices was "apocal

16-05-2022 12:07 GMT by Kenneth Fisher

CAD rallies on US consumer confidence

The Canadian dollar is unchanged on Monday, as it trades at the 1.29 line. Weak US consumer confidence boosts Canadian dollar The Canadian dollar ended the week in splendid fashion, with gains of over 1 per cent. This marked the Canadian dollar's best one-day performance this year and recovered all of the week's losses.

16-05-2022 10:46 GMT by Kenneth Fisher

EU forecast: growth down, inflation up

The euro is drifting at the start of the week, as EUR/USD trades slightly above the 1.04 level. The euro remains under pressure, as it continues to weaken against the US dollar. EUR/USD hasn't mustered a winning week since March and hit a dubious milestone on Thursday, closing below the 1.04 line for the first time since January 2003.

16-05-2022 08:33 GMT by Kenneth Fisher

Week Ahead – Wall Street Whipsawed

It was a tremendous week of market volatility for every asset class on Wall Street. It is still all about inflation and what will be the reaction from central banks. A challenging inflation and growth mix have driven investor concerns that the Fed won’t be able to deliver a soft landing.

13-05-2022 17:19 GMT by Edward Moya

Euro under pressure, falls below 1.04

The euro has stabilized on Friday, after a dreadful Thursday in which EUR/USD fell 1.26%. Russian announces sanctions The euro continues to struggle and is trading at lows last seen in January 2017. The Ukraine war has taken a bite out of the eurozone economy and sent the euro tumbling.

13-05-2022 08:27 GMT by Kenneth Fisher

British pound's woes continue

The British pound can't seem to find its footing. GBP/USD hasn't had a daily winning session since May 4th and closed on Thursday below the 1.22 line, for the first time since May 2020.

13-05-2022 07:42 GMT by Kenneth Fisher

New Zealand dollar stabilizes

The New Zealand dollar is headed for its seventh consecutive losing week. NZD/USD has declined 2.51% this week and the currency is trading at July 2020 lows. The currency plunged 1.01% on Thursday but has steadied on Friday and is trading at 0.6244. New Zealand's Manufacturing Index slowed to 51.2 in April, down from 53.8 in March.

13-05-2022 05:56 GMT by Kenneth Fisher

Oil in choppy waters, gold slides

Oil markets remain volatile Oil prices finished modestly higher overnight, after another chop-fest session which saw Brent crude and WTI fall nearly four dollars intraday. Powell’s soothing comments around 0.50% rate hikes stabilised sentiment in New York, but it is likely that the Russian natural gas sanctions on some European importers were the reason that oil rebounded.

13-05-2022 04:49 GMT by Jeffrey Halley

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Asian currencies stage a technical rebound

Japanese yen pares gains The US dollar index shrugged off a plunging USD/JPY overnight, climbing an impressive 0.72% to 104.75 overnight, where it remains in Asian trading. The heavy weighting of the euro in the index explains the dollar index rally overnight, assisted by sterling easing as well.

13-05-2022 04:26 GMT by Jeffrey Halley

Damage control

New York had another tumultuous session overnight, dominated by noise from the crypto sector where (un)stable coins continued to suffer from untethering. Either the crypto noise was pushing equities down, or vice versa, I know not.

13-05-2022 03:52 GMT by Jeffrey Halley

EUR/USD - On its way to parity?

OANDA Senior Market Analyst Craig Erlam talks about EURUSD falling again and whether the sell-off can accelerate further.

12-05-2022 20:28 GMT by Craig Erlam

Oil edges lower, gold hurt

Oil Oil prices remain a volatile trade as the crude demand outlook grows more uncertain as inflation remains uncomfortably high and has accelerated global growth concerns. The risk-off tone on Wall Street is leading to a much stronger US dollar which is weighing on oil prices. Many energy traders remain fixated over the EU’s potential ban on Russian crude, which now seems to be losing momentum. The EU is struggling to get Hungary’s support, which could suggest this embargo won’t happen anyti

12-05-2022 15:14 GMT by Edward Moya

New Zealand dollar sinks after US CPI

This week has gone from bad to worse for the New Zealand dollar, as NZD/USD has taken a tumble on Thursday. In the North American session, NZD/USD is trading at 0.6248, down 0.74% on the day.

12-05-2022 10:58 GMT by Kenneth Fisher

British pound dips on soft GDP

The pound continues to lose ground and is trading at its lowest level since May 2020. GBP/USD fell below the 1.22 level earlier and hasn't had a daily winning session since May 4th. Negative growth raises alarm bells The UK economy is struggling, a grim fact which was brought home by the Q1 GDP report earlier today.

12-05-2022 07:17 GMT by Kenneth Fisher

Euro drops to January 2017 lows

The euro has fallen close to the 1.04 level, which has held since January 2017. In the European session, EUR/USD is trading at 1.0429, down 0.81% on the day. ECB hints at a rate hike in Q3 After years of monetary easing which was fueled by low inflation levels, the ECB is slowly but surely switching gears and talking openly about a rate hike.

12-05-2022 05:57 GMT by Kenneth Fisher

Asian currencies falter

US dollar in choppy waters The dollar index had another choppy range overnight but ultimately closed nearly unchanged once again as the G-10 currency space was content to watch from the sidelines. Recessions fears being offset by lower US yields.

12-05-2022 04:22 GMT by Jeffrey Halley

Asia Wobbles Post-US Inflation

US inflation higher than expected US Inflation printed at 8.30% YoY overnight, less than the previous month's 8.50%, but slightly more than the 8.10% median forecast by markets. Equities vacillated after the data as the street tried to make up its mind whether to price in “peak-US-inflation,” or not.

12-05-2022 03:55 GMT by Jeffrey Halley

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