Currency News

Forex Market: AUD/USD retreats as RBA keeps policy settings unchanged, raises economic forecasts

AUD/USD retreated on Tuesday, while staying within a relatively narrow range, after the Reserve Bank of Australia kept policy settings without change and reiterated that monetary conditions would remain accommodative until at least 2024. Still, the central bank raised its forecasts for Australia’s economy. The official cash rate was kept intact at a record low […] Read more

Forex Market: GBP/USD rebounds from a two-week low in light trade ahead of key macro data, BoE policy meeting

GBP/USD bounced from a two-week low at the start of a week heavy on major macroeconomic data and central bank meetings. Trade volumes were lighter due to holidays in Japan, China and the UK, while market volatility – subdued. The Bank of England is scheduled to hold a policy meeting on Thursday, with asset purchases […] Read more

Forex Market: AUD/USD eases from one-week highs amid market caution ahead of FOMC meeting

AUD/USD, a liquid proxy for risk, eased from a one-week high on Tuesday, as market players abstained from taking large positions ahead of the Federal Reserve’s two-day policy meeting. Yesterday the Aussie dollar appreciated to 0.7815 against its US counterpart, a level not seen since April 20th, supported by near-record high prices of iron ore. […] Read more

Forex Market: GBP/USD extends gains as Sterling disregards political noise, Dollar weakens ahead of FOMC meeting

GBP/USD extended last Friday’s gains on Monday, as the British currency disregarded political noise from allegations against the UK’s Conservative government, while CFTC futures data showed market players were still bullish on the Sterling. UK PM Boris Johnson has faced a multitude of allegations in the media related to matters such as the way his […] Read more

Forex Market: AUD/USD hits a fresh one-month high as RBA expects “above-trend” economic growth this year

AUD/USD, a liquid proxy for risk, extended yesterday’s gains and registered a fresh one-month high on Tuesday, after the minutes from the Reserve Bank of Australia’s meeting in April revealed policy makers expected a stronger economic rebound from the coronavirus pandemic. Rising commodity prices provided additional support. The RBA said that it expected an “above-trend” […] Read more

Forex Market: GBP/USD hits a fresh two-week peak on UK’s vaccine roll-out success, improved risk sentiment, weaker dollar

GBP/USD extended last week’s gains and registered a fresh two-week peak on Monday, as the Sterling drew support from a partial re-opening of the UK economy and improving investor risk sentiment, while the US Dollar remained pinned near one-month lows. The Pound’s positive sentiment was underpinned by the latest data surrounding the UK’s vaccination campaign. […] Read more

Forex Market: AUD/USD edges lower, greenback rebounds from three-week lows ahead of key CPI inflation report

AUD/USD edged lower on Tuesday, as the US Dollar rebounded from a nearly three-week low against a basket of six major peers on bets US CPI inflation may pick up considerably in March, which would drive bond yields higher. The Aussie reacted in a rather muted manner to stronger-than-expected growth in Chinese imports in March, […] Read more

Forex Market: GBP/USD rebounds from a nine-week low, dollar takes a breather ahead of CPI inflation data

GBP/USD bounced from a nine-week low on Monday, which it hit during the late phase of the Asian session due to blood clot concerns surrounding AstraZeneca’s COVID-19 vaccine, which is considered key for the United Kingdom’s aggressive vaccination campaign. However, the Sterling is likely to see short-term support as restrictive measures in the UK are […] Read more

Forex Market: AUD/USD trades well above last week’s three-month trough, RBA rather optimistic about Australia’s economic outlook

Despite being a notch weaker on Tuesday, AUD/USD was still holding ground above the 0.7600 mark, as the Reserve Bank of Australia left the official cash rate without change at a record low level of 0.10% at its policy meeting earlier in the day and noted that the Australian economy had been recovering at a […] Read more

Forex Market: GBP/USD hits a fresh two-week high on prospects of faster reopening of UK economy, Dollar awaits more catalysts

GBP/USD started the new week on a strong foot, while hitting a fresh two-week high, supported by prospects of a faster-than-expected reopening of the British economy and a potentially robust economic growth. At the same time, the possibility of a rate cut or the introduction of negative interest rates by Bank of England has already […] Read more