Forex and Currency News

Germany’s wholesale prices fall for 15th month in July

Wholesale prices in Germany have decreased at an annualized rate of 0.1% in July, data by the Federal Statistical Office showed. The latter has been a slowdown from a 0.6% drop in the prior month. July marked the 15th consecutive month of decreasing producer prices, but the pace has been the softest in the sequence. […] Read more

South Africa’s manufacturing output falls more than forecast

Manufacturing production in South Africa was reported to have decreased 5.2% year-on-year in June, after a revised up 1.2% slump in May. Market consensus had pointed to a much smaller drop, by 0.9% YoY. In June, production contracted for: – motor vehicles, parts and accessories and other transport equipment, by 15.6% YoY; – basic iron […] Read more

Reserve Bank of India holds repo rate at 6.5%

The Reserve Bank of India left its key repo rate unchanged at 6.5% for a ninth straight policy meeting in August, in line with market expectations, to allow inflation to move down toward its 4% medium-term target. Annual CPI inflation in the country was reported at 5.08% in June, a four-month high, driven by a […] Read more

South Africa’s Forex reserves rise to four-month high

Foreign exchange reserves in South Africa expanded to $62.269 billion in July from $62.100 billion in June, data by the South African Reserve Bank showed. It has been the highest level of foreign exchange reserves since March. The nation’s gold reserves increased to $9.756 billion in July from $9.413 billion in June. Special Drawing Rights […] Read more

Switzerland’s unemployment rate remains steady at 2.3%

Switzerland’s jobless rate has remained steady at 2.3% for a third straight month in July, data by the State Secretariat for Economic Affairs showed. The number of unemployed individuals rose by 3,198 to a four-month high of 107,716 in July. Switzerland’s youth unemployment rate, which tracks job-seekers aged between 15 and 24, rose to 2.2% […] Read more

Reserve Bank of Australia holds rate at 4.35% for sixth time

The Reserve Bank of Australia kept its cash rate without change at 4.35% at its August policy meeting, in line with market expectations. The central bank noted that inflation still remained above the midpoint of its 2%–3% target range, mostly because of the still-high cost of services. The RBA cautioned that policy would need to […] Read more

Singapore’s retail sales drop 0.6% YoY in June

Singapore’s retail sales were reported to have decreased at an annualized rate of 0.6% in June, after a 2.2% surge in May. In June, sales went down for: – furniture & household equipment (-1.9% YoY versus a 1.1% YoY rise in May); – watches & jewelry (-1.7% YoY after a 7.4% YoY increase in May); […] Read more

Switzerland’s CPI inflation stable at 1.3% in July

Annual consumer price inflation in Switzerland has remained stable at 1.3% in July, the latest data by the Swiss Federal Statistical Office showed. The latest CPI figure came in line with market consensus. In July, prices were lower for: – clothing & footwear (-1.8% YoY versus -2% YoY in June); – household goods & services […] Read more

Euro Area unemployment rate edges up to 6.5% in June

The jobless rate in the Euro Area was reported at 6.5% in June, up from an all-time low of 6.4% in May. In comparison, market consensus had pointed to a rate of 6.4%. In June, the number of unemployed persons increased by 41,000 from the preceding month to 11.122 million, data by Eurostat showed. Euro […] Read more

US private payrolls rise the least since January

Employers in the US private sector have added 122,000 jobs in July, data by Automatic Data Processing showed on Wednesday. This has been the slowest employment growth since January and it fell short of market expectations of 150,000. In July, the service-providing sector added 85,000 job positions, as follows: – trade, transportation and utilities – […] Read more