Forex News

The jobless rate in Australia is seen picking up pace towards the end of the year, according to Economist at UOB Group, Lee Sue Ann. Key Quotes “Australia's jobless rate unexpectedly slipped from a 22-year high of 7.5% in July, to 6.8% in August, as employment surged past expectations helped by part-time work… Despite the…

US stock futures dumped amid intensifying risk-off mood. Coronavirus curbs, banking woes hit risk, boost the dollar. US fiscal gridlock remains a drag ahead of Fed’s Powell. The risk sentiment took a further hit in the European session, as the S&P 500 futures (risk barometer), extended the declines below 3,300 levels to hit fresh two-month…

EUR/USD fades the initial strength and moves below the 1.18 mark. Dollar-buying remains behind the correction lower in the pair. ECB’s Christine Lagarde speaks later on Monday. The better start of the week in the greenback is forcing EUR/USD to recede to fresh 2-day lows in the sub-1.18 area on Monday. EUR/USD focused on ECB,…

The UK Health Secretary Matt Hancock is back on wires now, via Reuters, this time commenting on the prospects of a coronavirus vaccine. He said that the progress is 'going well' on a vaccine but no vaccine is certain yet. “If a vaccine does come off, we should be back to normal by summer next…

Economist at UOB Group Lee Sue Ann reviewed the latest BoE event. Key Quotes “As expected, all nine members of the Monetary Policy Committee (MPC) voted to keep the main lending rate at 0.10%, with the central bank having cut rates twice from 0.75% since the beginning of the COVID-19 pandemic. The MPC also voted…

S&P 500 is treading water at a fresh six week low and is headed to official correction territory as attention is returning to fiscal assistance given a loss of momentum in the economic data and the surge in COVID-19, FXStreet’s Ross J. Burland reports. Key quotes “With researchers around the world racing to develop a…

DXY starts the week on a positive footing near the 93.30 region. Chicago Fed index, Fedspeak coming up next in the docket. Markets’ focus will be on Chief Powell’s testimonies later this week. The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, has reversed the initial pessimism and…

Gold meets fresh supply amid the US dollar turnaround. Ascending triangle breakdown spotted on the hourly chart. Hourly RSI flirts with the oversold territory, eyes on Powell. Having faced rejection above $1950 on several occasions so far this Monday, Gold (XAU/USD) came under heavy selling pressure and fell nearly $10 in a matter of an…

EUR/USD keeps navigating within the recent choppy range, looking to extend further north the ongoing rebound from last week’s monthly lows in the 1.1740/35 band. Target emerges at the 1.19 mark and above, as FXStreet’s Pablo Piovano notes. Key quotes “The continuation of the upside momentum in EUR/USD should target recent tops in the 1.1925/20…