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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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Yen slides as BoJ dampens rate hike hopes
The Japanese yen’s rally came to crashing halt on Wednesday. USD/JPY has jumped 2.1%, trading at 147.41 in the North American session at the time of writing. BoJ deputy governor says no hikes during market unrest The Japanese yen has been on a tear, rising a massive 10.7% since July 11, prior to today.
07-08-2024 13:50 GMT by Kenneth Fisher
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Canadian dollar keeps rally alive despite weak Ivey PMI
The Canadian dollar has rallied for a third straight day on Wednesday. In the North American session, USD/CAD is trading at 1.3729, down 0.41% on the day at the time of writing. Canada’s Ivey PMI decelerates Canada’s Ivey PMI, a useful gauge of economic activity, fell to 57.6 in July, down from 60.0 in June and shy of the market estimate of 62.5.
07-08-2024 11:48 GMT by Kenneth Fisher
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NZ dollar surges on strong employment data
The New Zealand dollar has soared today. In the European session, NZD/USD is trading at 0.6018, up an impressive 1.1% at the time of writing. New Zealand job growth surprises on the upside New Zealand’s labour market has been cooling off due to elevated interest rates and the markets were braced for a soft jobs report for the second quarter.
07-08-2024 08:03 GMT by Kenneth Fisher
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USD/CAD Targets 1.3740 Support as Canada's Trade Balance Surges
The USD/CAD pair is declining due to the anticipation of aggressive rate cuts by the US Federal Reserve, which could narrow the interest rate differential between the US and Canada Canada's better-than-expected trade surplus in June, driven by increased crude oil and gold exports, further strengthened the Canadian dollar. BoC summary of deliberations and job data releases expected to provide insights into the central bank's views and the employment situation.
06-08-2024 11:34 GMT by Zain Vawda
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Gold (XAU/USD) Steadies After Volatile Monday; DXY Bounces Back
Gold prices rebounded above $2,400/oz after a dip to $2,364/oz, showing resilience despite a strengthening US Dollar. Gold benefits from expectations of more aggressive rate cuts and its safe-haven status. Geopolitical and economic risks in the second half of 2024, along with anticipated rate cuts, should theoretically support the gold rally, but a Middle East peace agreement could complicate the outlook.
06-08-2024 08:48 GMT by Zain Vawda
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AUD/USD remains under pressure as RBA holds rates
The Australian dollar gained ground earlier but has reversed directions and has edged lower. In the European session, AUD/USD is trading at 0.6778, down 0.24% at the time of writing. RBA maintains cash rate at 4.35% The Reserve Bank of Australia held the cash rate at 4.35% for a seventh straight time today.
06-08-2024 06:54 GMT by Kenneth Fisher
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AUD/USD Technical: Dropped towards 0.6360 key range support ahead of RBA
AUD/USD has been the worst performer among the major currencies in the past 4 weeks due to a double whammy slow-down growth effect from the US and China. RBA's “hawkish hold” monetary policy stance on Tuesday may offer a relief for the AUD/USD. The recent 6.6% decline in the AUD/USD has almost reached an extreme oversold condition since December 2021.
05-08-2024 08:30 GMT by Kelvin Wong
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Global Stock Rout as Nasdaq 100 Futures Falls 6%, Safe Havens Bid
Global markets extend losses, Nikkei plummets, Nasdaq 100 enters correction territory. Selloff attributed to recession fears, profit-taking, and geopolitical tensions. Goldman Sachs raises recession odds, Australian government increases terrorism threat level. Nasdaq 100 technical analysis indicates potential for further decline or dip-buying rebound. Most Read: Markets Weekly Outlook – Rising US Job Fears, Geopolitics in the Spotlight Global markets extended their losses in Asian trading as co
05-08-2024 05:19 GMT by Zain Vawda
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Markets Weekly Outlook - Rising US Job Fears, Geopolitics in the Spotlight
US jobs data underwhelmed, triggering the SAHM rule, signaling a likely recession. The Magnificent 7 tech companies have lost nearly $1.75 trillion in market capitalization over the past 10 days. Rate cut bets for the US face significant revisions with recessionary fears weighing on global markets. Reserve Bank of Australia (RBA) next week. Will the RBA deliver a dovish pivot. Read More: EUR/CHF: Medium-term global risk-off kickstarts (Part 2) Week in Review: US Unemployment Rate Triggers Reces
02-08-2024 13:37 GMT by Zain Vawda
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EUR/CHF: Medium-term global risk-off kickstarts (Part 2)
Further weakness in the US ISM Manufacturing PMI & Employment sub-component increases the risk of a hard landing scenario. A Fed interest rate cut that is implemented late in the US economic cycle where a downturn may be already in motion sees the evaporation of the earlier outperformance of the Dow Jones Industrial Average and Russell 2000. EUR/CHF faces further downside pressure reinforced by a medium-term global risk-off episode. This is a follow-up analysis of our prior report, “S&P 500: Fu
02-08-2024 08:17 GMT by Kelvin Wong
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USD/CAD Price Forecast: USD Bulls Eye Breakout as DXY Shakes Off Post FOMC Haze
The Federal Reserve left interest rates unchanged, but the statement acknowledges a moderating job market and slightly elevated inflation, opening the door for a potential September rate cut. The US Dollar initially weakened after the FOMC meeting but has since rebounded, supported by the 104.00 level. USD/CAD faced resistance at 1.3850 and could potentially break higher if the US Dollar Index continues to strengthen. Will jobs data be the catalyst? Most Read: Trump Courts Crypto Fans Amid Bitc
01-08-2024 12:23 GMT by Zain Vawda
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FOMC Rate Decision - Potential Impact on EUR/USD, GBP/USD and the Dollar Index
The market anticipates a shift in the Fed's stance, with three rate cuts now expected in 2024 due to softening economic data. A soft landing remains possible as the labor market cools and inflation shows signs of easing. Technical analysis suggests GBP/USD is consolidating, EUR/USD maintains a bullish structure, and the Dollar Index (DXY) is at risk of a sharp decline. Most Read: Gold, Crude Oil Prices Soar on Rising Middle East Tensions, FOMC Next FOMC Preview: September Cut Most Likely Marke
31-07-2024 10:03 GMT by Zain Vawda
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