Forex: All News & Analysis

After starting the week with gains, the euro has been on a nasty slide, which has continued on Friday. EUR/USD has dropped below the symbolic 1.10 level in the European session and is at its lowest level since June 2020. Fire at Ukraine nuclear plant sends euro lower The intensified fighting which is raging in Ukraine has taken its toll on the euro. The grim news of a fire at a Ukrainian nuclear plant caused by Russian shelling has resulted in safe haven flows which has boosted the US dollar

04-03-2022 06:50 GMT by Kenneth Fisher

Dollar climbs on Ukrainian nuclear fire

The US dollar surges on Ukrainian nuclear fears Notably, the US dollar did not experience any relief flows seen in energy and equity markets overnight in New York, as US yields held onto their gains of the previous session. The rising price of commodities increases demand for US dollar, as does Ukraine haven flows, and should continue to support the greenback into the weekend.

04-03-2022 04:52 GMT by Jeffrey Halley

AUD/USD - Breakout amid soaring commodity prices

OANDA Senior Market Analyst Craig Erlam discusses AUDUSD which is in the midst of a bullish breakout as commodity currencies continue to benefit from rising prices.

03-03-2022 18:19 GMT by Craig Erlam

New Zealand dollar edges higher

The New Zealand dollar has posted small gains on Thursday, as NZD/USD has pushed above the 0.68 line in the North American session. New Zealand is hugely dependent on its export industry, and the Covid pandemic has taken its toll on exports, as global demand has fallen. However, with the worst of Covid hopefully behind us, global demand has picked up, which bodes well for New Zealand's economy.

03-03-2022 11:09 GMT by Kenneth Fisher

Australian dollar shrugs after strong data

PMIs, trade balance power higher Australia posted strong data earlier in the day, but the Australian dollar remains almost unchanged as it trades around the 0.73 level. Services PMI jumped to 57.4 in February, up from 46.6 in January. It was a similar story for Construction PMI, which climbed to 53.4, up from 45.9.

03-03-2022 06:02 GMT by Kenneth Fisher

Currency markets are mixed

Euro steady, sterling rises The US dollar mostly retreated overnight as Fed rate hike expectations were pared for March and investors hoped for progress in the Ukraine-Russia meeting expected today. The dollar index eased slightly by 0.04% to 97.36, but with oil prices on fire in Asia today has resumed its ascent, climbing 0.16% to 97.51.

03-03-2022 04:48 GMT by Jeffrey Halley

EUR/JPY - Further downside to come?

Or is it due a correction? It's been a very volatile start to 2022 and risk aversion has certainly picked up in recent weeks following the Russian invasion of Ukraine. The shift to safe havens has benefited the usual currencies like the dollar, Swiss franc, and Japanese yen, with the latter making significant gains against the euro. The pair has fallen more than 4% over the last few weeks and despite rebounding a little on Wednesday, looks very vulnerable to a break lower. And this comes a

02-03-2022 19:06 GMT by Craig Erlam

Canadian dollar jumps on BOC hike

The Canadian dollar has posted strong gains on Wednesday. USD/CAD is trading at 1.26695 in the North American session, down 0.59% on the day. BoC raises rates The Bank of Canada went ahead and raised rates earlier today by 0.25%, to 0.50%.

02-03-2022 12:45 GMT by Kenneth Fisher

Aussie rises on strong GDP

The Australian dollar is in positive territory, as investors reacted favourably to today's GDP report. AUD/USD is trading at 0.7275, up 0.37% on the day. Australia GDP climbs 3.4% Australia's economy rebounded in the fourth quarter, with a gain of 3.4% QoQ, just shy of the consensus of 3.5%. This is an impressive turnaround from Q3, which came in at -1.9%.

02-03-2022 10:20 GMT by Kenneth Fisher

Slumping euro drops below 1.11

The euro has fallen for three straight days and continues to lose ground on Wednesday. EUR/USD has dropped below the 1.11 line for the first time since May 2020, at the height of the first wave of Covid-19.

02-03-2022 06:12 GMT by Kenneth Fisher

Dollar rises on oil, Ukraine jitters

The US dollar rallies on higher energy and deepening Ukraine crisis Overnight, saw another flight to safety that benefited the US dollar as the dollar index surged 0.67% to 97.39, edging slightly higher to 97.42 in Asia. The flight to safety was more uneven this time - EUR/USD and GBP/USD sank, AUD, NZD and Asian EM currencies held their own, although the reasons for that are not immediately obvious to me. EUR/USD sank 0.86% to 1.1120, where it remains this morning.

02-03-2022 05:04 GMT by Jeffrey Halley

AUD/USD - Breaking the downtrend?

Can it maintain momentum? The Aussie dollar has been on a decent run in recent weeks against the greenback but it's suddenly struggling around an important area of resistance. The pair has been in a downward trend for a little over a year and the top of the descending channel falls between the 50 and 61.8 fib levels and around 0.73, near the same level it failed at last week. A move above here would look like quite a bullish breakout but there may still be one more big obstacle in the way.

01-03-2022 17:39 GMT by Craig Erlam

US Close- Surging oil prices drive growth concerns and sink stocks, ISM impresses, Yields drop, Yen Stronger

US stocks tumbled as investors struggle to go long risk as the Russia-Ukraine crisis intensifies and as surging oil prices threaten economic growth prospects. Wall Street is hitting the ‘sell button’ on everything except for energy stocks. Traders are trying to reduce their exposure to anything that has exposure to Russia and some are getting concerned that a prolonged economic slowdown is here.

01-03-2022 15:04 GMT by Edward Moya

Canadian dollar steady, GDP outperforms

Canada's GDP rises 6.7% Canada's GDP in Q4 was stronger than expected, at 6.7% QoQ, ahead of the estimate of 6.5% and higher than the 5.5% gain in Q3. The Canadian dollar's reaction was muted, as investors are looking ahead to the Bank of Canada's policy meeting on Wednesday. The red-hot GDP reading cements a rate hike from the BoC. The Bank of Canada has held interest rates at 0.25% since March 2021, but policy makers are poised to raise rates by 25 basis points, to 0.50%.

01-03-2022 11:29 GMT by Kenneth Fisher

Aussie steady as RBA holds pat

As expected, the RBA maintained its cash rate at a record low 0.10% earlier on Tuesday. In the rate statement, Governor Philip Lowe said that the global economy continued to improve, but noted that the war in Ukraine was "a major new source of uncertainty". Lowe warned that inflation would continue to rise and that the RBA was projecting inflation to hit 3.25% in the coming quarters. This is significant because it indicates that the central bank expects inflation to rise above the bank's 2-3%

01-03-2022 06:39 GMT by Kenneth Fisher

Euro weakens on Ukraine fighting

The euro has lost ground on Tuesday and fallen below the 1.12 level. In the European session, EUR/USD is trading at 1.1173, down 0.40% on the day. The fighting has intensified in Ukraine, with a Russian armored column stretching for miles slowly winding its way towards the capital Kyiv.

01-03-2022 06:27 GMT by Kenneth Fisher

US dollar clings to gains

US dollar stays firm The US dollar finished higher overnight, but only marginally so as the peak-Ukraine rally in equities caused the greenback to give back much of its intraday gains. The dollar index finished 0.21% higher at 96.75, before climbing another 0.12% to 96.86 in Asia today. Given the bargain hunter mentality sweeping the equity markets, it is interesting that the US dollar continues to trade firm, even more so given the move lower by US yields across the curve overnight.

01-03-2022 04:27 GMT by Jeffrey Halley

Yen posts gains despite weak data

Japanese production, retail sales fall Japan's factory output declined for a second consecutive month as supply disruptions continue to take a toll on manufacturing. Industrial production for January fell 1.3% m/m, worse than the consensus of -0.7%.

28-02-2022 12:06 GMT by Kenneth Fisher

Powerful sanctions hit risk appetite

We're seeing widespread risk aversion once more on Monday after new severe sanctions were levied against Russia over the weekend. The response to previous sanctions was underwhelming, to say the least, but the latest batch undoubtedly has the teeth that the others lacked. That's been most clearly evident in the FX markets, where the rouble plunged more than 30% to record lows and that could have been much worse but for swift action by the central bank. An emergency rate hike - raising the key

28-02-2022 10:43 GMT by Craig Erlam

Aussie active ahead of RBA meeting

The Australian dollar started the trading week with considerable losses but has recovered and is unchanged on the day. Volatility continues due to Ukraine crisis The financial markets remain focused on Ukraine, where the Russian invasion continues and the capital Kyiv is bracing for a Russian onslaught at any time. Russian and Ukrainian officials are currently meeting on the Belarus-Ukraine border to discuss a cease-fire, although expectations for a breakthrough are low.

28-02-2022 10:02 GMT by Kenneth Fisher

Forex: all news & analysis