Currency News

Forex Market: NZD/USD set for third week of losses as dovish RBNZ, resurgent virus mount pressure on the kiwi

NZD/USD extended losses from the prior trading day on Friday and was set to register its third straight week of decline, as a combination of dovish RBNZ policy stance and COVID-19 resurgence in New Zealand mounted pressure on the kiwi dollar. Reserve Bank of New Zealand expanded its Large Scale Asset Purchase (LSAP) programme from […] Read more

Forex Market: AUD/USD extends gains as Australian economy creates three times as many jobs as anticipated in July

AUD/USD extended gains from the prior trading day on Thursday after better-than-anticipated employment data from Australia indicated economy remained resilient amid ongoing COVID-19 outbreak in Melbourne. The latest report by the Australian Bureau of Statistics showed economy created 114,700 jobs in July, or almost three times more than what analysts on average had expected. The […] Read more

Forex Market: GBP/USD steadies just below 1.3050 as softer dollar overshadows record GDP contraction in the UK

GBP/USD steadied in late European trade on Wednesday, after earlier slipping to lows unseen in nearly a week, as a softer US Dollar overshadowed the impact of a record contraction in UK Gross Domestic Product reported earlier today. According to the preliminary data by the Office for National Statistics, UK’s economy shrank at a quarterly […] Read more

Forex Market: NZD/USD sinks to a one-month low after RBNZ expands LSAP programme, “Stage 3” restrictions imposed in Auckland region

NZD/USD slipped to lows not seen in a month during mid-Asian session on Wednesday, after Reserve Bank of New Zealand bolstered its Large Scale Asset Purchase (LSAP) programme to NZD 100 billion at its policy meeting earlier in the day and noted that “additional monetary instruments” might be deployed. Since the economic risks remain to […] Read more

Forex Market: GBP/USD clears 1.3100 even as UK employment shrinks the most since 2009

GBP/USD was edging up for a second straight trading day on Tuesday, while trading just above the 1.3100 mark, despite that an earlier report by the Office for National Statistics revealed the sharpest drop in UK employment since 2009 during the three months to June. As many as 220 000 jobs were lost during the […] Read more

Forex Market: AUD/USD rises after pulling back from 18-month highs, markets wait for clarity over US fiscal stimulus talks

After pulling back from last Friday’s 18-month high, AUD/USD was attempting a rebound from the 0.7135-0.7145 area of support in early European session on Tuesday, but gains may be capped as investor hopes of a deal on US fiscal stimulus seemed to have led to a pause in recent US Dollar depreciation. The greenback was […] Read more

Forex Market: GBP/USD consolidates after Friday’s losses as markets await UK unemployment, GDP data

Having registered its largest single-day loss since June 24th on Friday, GBP/USD was rather in consolidation mode during the European session on Monday ahead of the key UK unemployment and GDP data prints later this week. The US Dollar regained strength against its major peers on Friday after the latest report by the US Labor […] Read more

Forex Market: NZD/USD trades mostly flat near 0.6600, markets await RBNZ policy decision, US-China trade talk resumption

Following an over 1% retreat on Friday, NZD/USD was mostly flat in early European session on Monday, trading in a tight range around the 0.6600 mark. The US Dollar regained strength against its major peers on Friday after the latest report by the US Labor Department showed a faster-than-expected job growth in July, which, to […] Read more

Forex Market: NZD/USD pauses rally after US President Trump’s ban on WeChat and TikTok, markets eye key Non-Farm Payrolls data

After a three-day streak of gains, NZD/USD took a breather on Friday, as the US Dollar bounced off a more than two-year low against a basket of six major peers after US President Donald Trump moved to prohibit transactions with two China-based corporate entities that own popular mobile applications TikTok and WeChat. Market players are […] Read more

Forex Market: GBP/USD touches a fresh five-month high after Bank of England’s less pessimistic outlook for UK economy

GBP/USD extended gains from the prior trading day and hit a fresh five-month high during mid-European session on Thursday, after Bank of England revealed a less pessimistic outlook about UK’s pandemic-ravaged economy. After an unanimous vote, BoE’s Monetary Policy Committee left the key bank rate at a record low level of 0.10% at its meeting […] Read more