Forex News and Rumors

Rate cut by Indian central bank
The repo rate – at which the Reserve Bank of India injects short-term money into the banking system – was cut by a quarter percentage point to 4.75%.

The move came as the central bank said it expected economic growth to slow to 6% in the current financial year. More

Meltdown losses of ‘$4 trillion’
The International Monetary Fund (IMF) has warned that potential losses from the credit crunch could reach $4 trillion (£2.75tn) and damage the financial system for years to come. More

Deflation returns to Britain for first time since 1960
The Office for National Statistics said the RPI was 0.4% lower in March than it had been in March 2008. That was the first negative reading since March 1960, when Harold Macmillan was prime minister and John F Kennedy was running for the US presidency. More

Spain’s Falling Prices Fuel Deflation Fears in Europe
With the combination of rising unemployment and falling prices, economists fear Spain may be in the early grip of deflation, a hallmark of both the Great Depression and Japan’s lost decade of the 1990s, and a major concern since the financial crisis went global last year. More

Asian stocks track Wall Street’s losses
Asian stocks slid and government bonds climbed on Tuesday after a steep rise in bad debt at Bank of America renewed credit fears, sparking worries a 25% month-long rally in global equities had peaked.

Major European stock futures were up 0.1%, pointing to a slightly higher open, after better-than-expected results from British retailer Tesco though the health of the banking industry was a nagging concern. More

Japan Will Issue $110 Billion in Bonds for Stimulus
The Japanese government said on Tuesday it would issue bonds worth 10.82 trillion yen (US$110 billion) to fund its planned stimulus package to try to rescue Japan from its deepest recession since World War Two. More

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza