Forex news
- The GBP/USD is relatively calm after upbeat services PMI numbers in the UK.
- The services PMI rose to 47.1 in June as the country continued to reopen.
- The number could rise in July as the UK reopens bars, restaurants, and hotels
Features & analysis
Latest Forex news
The USD/CAD pair is little changed today as traders react to the upbeat US nonfarm payrolls data, better Canadian trade numbers, and relatively higher crude oil prices. The pair is trading at 1.3587, which is a few pips above yesterday’s low of 1.3545. Canada’s trade deficit narrows The Canadian trade deficit narrowed from the previous $4.27 billion to just $0.68 billion in May. That is according to Statistics Canada. This happened as the volume...
The US dollar index (DXY) is down by 0.25% as traders react to the upbeat nonfarm payrolls data released by the Bureau of Labour Statistics (BLS). The index is trading at $96.50, which is slightly below yesterday’s high of $97.20. US nonfarm payrolls rise The economy added more than 4.8 million jobs in June as the country started to reopen. That was the highest monthly gain ever recorded in history. The May jobs numbers were revised upwards from...
The AUD/USD pair rose slightly during the Asian session as traders reacted to the upbeat Australian trade numbers. They are also reacting to the FOMC minutes released yesterday, the rising number of coronavirus cases in the US, and the NFP data. Australia record trade surplus Australia recorded a record trade surplus in May as the country reopened following the recent lockdowns. Data from the Australian Bureau of Statistics (ABS) showed that the...
The US dollar index (DXY) reversed its earlier gains as traders reacted to the strong manufacturing PMI data. The index is trading at $97.10, which is slightly below the intraday high of $97.65. US manufacturing PMI rises The manufacturing sector in the United States was upbeat in June as the country reopened. According to the Institute for Supplies Management (ISM), the manufacturing PMI rose to 52.6 in June. That was better than the 49.5 that a...
The USD/SEK pair declined slightly today as investors react to the Riksbank interest rate decision. The pair is trading at 9.3160, which is between the June high of 9.4758 and low of 9.1293. The EUR/SEK pair, on the other hand, is trading at 10.4535. Riksbank interest rate decision The Swedish central bank left interest rate unchanged at the current rate of 0% after its two-day meeting. That was in line with what most analysts were expecting. The...
The USD/JPY pair declined by more than 0.30% as traders reacted to the mixed economic data from Japan. The pair is trading at 107.62, which is the lowest it has been since Monday this week. Japan manufacturing PMI improves Japan is predominantly a manufacturing country that is well-known for brands like Toyota, Honda, and Mitsubishi. The sector employs millions of people and is responsible for a significant part of the GDP. The manufacturing sect...
The AUD/USD pair was little changed during the Asian session as traders reacted to the upbeat manufacturing PMI data from Australia and China. The pair is trading at 0.6900, which is higher than yesterday’s low of 0.6835. Australia manufacturing makes a comeback The Australian manufacturing sector made some positive strides in July as the country continued to reopen. That is according to the latest manufacturing PMI numbers from the Australian In...
The USD/SEK pair is little changed ahead of the Riksbank interest rate decision. The pair is trading at 9.3333, which is below the June high of 9.4772 and above the low of 9.1290. Riksbank interest rate decision eyed The Swedish central bank will be the “only game in town” this week. Members of its monetary policy committee will start their meeting today and release their decision tomorrow. Most analysts expect the bank to leave interest rates un...
The USD/KRW is down for the second straight day as investors react to the rising coronavirus cases in the US and the mixed economic data from South Korea. The pair is trading at 1196.80, down from this month’s high of 1243.80. South Korean economy lagged in May South Korea has been lauded for its reaction to the coronavirus crisis. Having learned from the previous Middle East Respiratory Syndrome (MERS) outbreak, the country was fast to implement...
The GBP/USD pair reversed earlier gains as traders started worrying about funding for Boris Johnson’s ambitious infrastructure plan. The pair is trading at 1.2262 while the EUR/GBP pair is trading at 0.9062. The pound index, which measures sterling’s performance against a basket of currencies, is down by 0.70%. Questions about British infrastructure spending The UK has been affected significantly by the coronavirus pandemic. According to Worldome...
The EUR/USD pair is up by more than 0.55% as traders react to some positive developments in Europe and the overall weaker US dollar. The pair is trading at 1.1277, which is the highest it has been since June 24. ECB could boost QE by about $1 trillion Two weeks ago, the European Central Bank (ECB) surprised the market when it added €600 billion to its original Pandemic Emergency Purchase Program (PEPP). This action brought the total amount of the...
The USD/HKD pair was little changed as traders reacted to the weak trade numbers from Hong Kong. The pair is trading at 7.7500, where it has been since April this year. Hong Kong exports and imports slide Business activity worsened in May as traders reacted to the recently passed Hong Kong security law by the Chinese government. The situation was also worsened by the rising coronavirus cases in the city and in its biggest trading partners. The to...
The US dollar rose while global stocks and crude oil declined last week as fears of a second wave became real. The US has reported more than 200,000 new cases while the CDC has warned that the numbers are significantly higher. The greenback’s rise was mostly due to risk aversion as traders rushed to its safety. Let us look at key events to watch in the economic calendar as the third quarter starts. US Nonfarm payrolls On Thursday, the Bureau of L...
The Australian dollar and Chinese yuan will be in the spotlight when the markets open later today. The AUD/USD and USD/CNY pair will react to the latest industrial profits data from China and the rising coronavirus cases in Australia. China industrial profits point to a recovery The Chinese industrial sector made a modest recovery in May, according to the latest numbers from the statistics office. The data showed that profits bounced back by 6 pe...
The GBP/USD pair dropped by more than 0.60% as traders refocused on the upcoming round of talks between the EU and the UK. They also reacted to the US warning to UK on Huawei relationship. The pair is trading at 1.2330, which is the lowest level since June 1. The British pound index is down by 0.56%. Fifth round of Brexit talks to start The UK voted to leave the European Union four years ago. While the country left the European Union in March, bu...
The US dollar index is slightly unchanged today as traders react to the rising coronavirus cases in the United States and personal spending data. The index is trading at $97.41, which is slightly lower than yesterday’s high of 97.60. US coronavirus cases rise The number of coronavirus cases in the United States is on an upward trend. According to health officials, the number of new infections rose by more than 40,000 on Wednesday. That was the hi...
The USD/TRY declined by more than 20 basis points after the Turkish central bank delivered a surprise interest rate decision. The pair is trading at 6.8430, which is lower than this week’s high of 6.8620. Turkish central bank surprises the market The USD/TRY edged lower after the Turkish central bank left the one-week repo auction rate unchanged at 8.25%. According to Bloomberg, most analysts were expecting the bank to deliver its tenth rate cut...