Currency News

Forex Market: AUD/USD extends gains on US economic recovery worries, markets await more clues on US job market after weak ADP data

AUD/USD was gaining ground for a third straight trading day on Thursday, while being not far from Wednesday’s 18-month high, as investor concerns that economic recovery in the US may lag other countries due to rising new COVID-19 infections continued to pressure the greenback. Markets now await the official US job figures from the Labor […] Read more

Forex Market: GBP/USD gains as a drop in US bond yields pressure dollar, US coronavirus relief talks, macro data, BoE decision eyed

GBP/USD edged up during early European session on Wednesday, while trading just below the 1.3100 mark ahead of UK and US macro data sets later today and Bank of England’s policy decision tomorrow. The US Dollar weakened against a basket of six major peers as the stalemate over US fiscal policy brought forth a speculation […] Read more

Forex Market: AUD/USD rebounds as RBA keeps policy unchanged, investors focus on US relief plan talks

Having dropped to one-week lows on Monday, AUD/USD was edging higher on Tuesday after the Reserve Bank of Australia (RBA) left policy unchanged. Market players are also looking for clarity over the US coronavirus relief plan as political negotiations continue. “We’re still in a situation where the market wants to believe the recovery is on […] Read more

Forex Market: NZD/USD falls from seven-month highs as US Dollar rebounds after biggest monthly loss since September 2010

NZD/USD came off Friday’s seven-month high and traded within a relatively tight range on Monday, as the US Dollar rebounded after recording its biggest monthly decline in a decade in July against a basket of six other major currencies. The latest data by the US Commodity Futures Trading Commission showed net short positions in the […] Read more

Forex Market: GBP/USD off 21-week highs as the dollar rebounds, UK and US manufacturing data prints now eyed

GBP/USD came off Friday’s 21-week highs and slipped back below the 1.3100 mark on Monday, as the US Dollar was attempting a rebound from more than two-year lows against peers ahead of fresh macro data. The US Dollar has been under selling pressure due to concerns over slowing economic recovery amid rising COVID-19 infections across […] Read more

Forex Market: AUD/USD rises to fresh 18-month highs, US Dollar set for sharpest monthly drop in a decade on recovery fears

AUD/USD gained for a sixth straight trading day and touched fresh 18-month highs on Friday, as the US Dollar was set to register its biggest monthly drop against major peers in at least a decade in July due to US economic recovery-related concerns stemming from accelerating coronavirus pandemic. The Aussie Dollar also drew support from […] Read more

Forex Market: GBP/USD holds steady near 20-week highs, pair set for biggest monthly gain since October 2019

GBP/USD remained mostly stable near the 1.3000 mark in late European trade on Thursday, after earlier touching 1.3019, its strongest level since March 10th, as risk sentiment somewhat improved following a promise by Fed Chair Jerome Powell that the central bank will “do what we can and for as long as it takes” to limit […] Read more

Forex Market: NZD/USD eases from seven-month highs ahead of US GDP data, Fed maintains dovish policy stance

NZD/USD eased from recent seven-month highs on Thursday, as the US Dollar bounced from two-year lows against peers it had earlier registered following the Federal Reserve’s dovish stance on policy. The US central bank kept the target range for the federal funds rate intact at 0%-0.25% at its policy meeting concluded yesterday, in line with […] Read more

Forex Market: AUD/USD hits fresh 67-week highs on broadly weaker US Dollar as markets expect dovish statement from Fed

AUD/USD extended gains from the prior trading days and touched highs not seen since mid-April 2019 on Wednesday, as the US Dollar remained broadly weaker ahead of the outcome of the Federal Reserve’s policy meeting later today. The central bank is expected to stick to a dovish policy stance amid alarming spikes in new COVID-19 […] Read more

Forex Market: GBP/USD steady near 20-week highs as the Federal Reserve is expected to take a dovish policy stance

GBP/USD kept steady near yesterday’s 20-week high in early European trade on Wednesday, as the US Dollar remained close to two-year lows against major peers ahead of the outcome of the Federal Reserve’s policy meeting later today. The central bank is expected to stick to a dovish policy stance amid alarming spikes in new COVID-19 […] Read more