Currency News

Forex Market: AUD/USD rebounds from a one-month low, tracking oil price rally, Fed’s meeting outcome in focus

AUD/USD snapped a three-day streak of losses on Tuesday, while tracking a rally in crude oil prices and despite overall risk-averse mood. Yesterday the Aussie slipped to a fresh one-month low against its US counterpart, as the risk of a potential default by property developer China Evergrande heightened, causing a flight to safety in the […] Read more

Forex Market: GBP/USD hits a fresh one-month low as market caution, Fed taper signal expectations support US Dollar

GBP/USD retreated for a third straight trading day on Monday, while touching a fresh one-month low, as the US Dollar remained firm on investor expectations of the Federal Reserve moving a step closer towards asset purchase tapering this week. Additionally, concerns that the eventual collapse of indebted developer China Evergrande could lead to a broader […] Read more

Forex Market: GBP/USD comes off one-week highs as investors look to US CPI data for Fed taper clues

GBP/USD extended a pullback from recent one-week peak on Monday, as the US Dollar strengthened ahead of key macro data that may provide clues over the timing of the Federal Reserve’s asset purchase tapering. Having registered its first weekly gain in three last week due to increased safe haven demand and higher US bond yields, […] Read more

Forex Market: AUD/USD retreats a second day as RBA sticks with bond tapering plans, but extends program to February 2022

AUD/USD extended losses on Tuesday after the Reserve Bank of Australia cut its bond-purchasing program by AUD 1 billion per week to AUD 4 billion per week and also extended the program to at least mid-February 2022. Many analysts had expected the RBA to delay bond tapering, since lockdown restrictions in major cities will probably […] Read more

Forex Market: AUD/USD extends rebound from August 20 trough ahead of Australian GDP, US NFP reports

AUD/USD rose on Tuesday, while extending a rebound from August 20th low of 0.7106 – a 9 1/2-month low, after new data showed that a surge in government spending had facilitated a crucial boost to growth, probably helping the economy avoid recession. The official Australian GDP numbers for the second quarter are due to be […] Read more

Forex Market: GBP/USD rangebound in light trade, dollar hovers above two-week lows after Fed Chair Powell’s remarks

GBP/USD remained stuck within a narrow range in light trade on Monday, as the US Dollar hovered just above a two-week low after the Federal Reserve laid out a slower-than-anticipated path to interest rate increases. In a speech at the Jackson Hole symposium on Friday Fed Chair Jerome Powell said that the central bank’s tapering […] Read more

Forex Market: AUD/USD rebounds from a 41-week low on commodity price surge, markets eye Jackson Hole symposium

AUD/USD extended a rebound from 41-week lows on Tuesday, supported by a 3% surge in iron ore prices and some weakness in the US Dollar, as market focus turns to the Jackson Hole convention hosted by the Federal Reserve. Market risk sentiment improved after the US Food and Drug Administration granted full approval to the […] Read more

Forex Market: GBP/USD rebounds from one-month lows as it tracks stock market rally

GBP/USD rebounded from last week’s one-month trough on Monday, while tracking other risk-sensitive assets, as investor risk sentiment improved while the safe-harbor greenback came off recent highs. The US Dollar eased from an over 9-month peak against a basket of six major peers on Monday, as market sentiment improved with a rebound in Asian shares […] Read more

Forex Market: AUD/USD plunges to a fresh 38-week low as RBA Minutes stress on high uncertainty surrounding H2 outlook

AUD/USD extended losses on Tuesday after the minutes from the RBA’s policy meeting in August showed that the recent outbreaks of the Delta variant of the coronavirus and lockdowns in Sydney, Melbourne and Canberra had disrupted economic recovery and led to a high degree of uncertainty surrounding the outlook for the second half of 2021. […] Read more

Forex Market: GBP/USD hovers above 1 1/2-week lows as investors bet on earlier Fed tapering

GBP/USD traded within a relatively tight range on Monday, while hovering just above lows unseen in 1 1/2 weeks, as market players were weighing up the possibility of an earlier asset purchase tapering by the Federal Reserve. The major pair retreated over 0.4% on Friday on the back of a stronger-than-anticipated US Non-Farm Payrolls report. […] Read more