Currency News

GBP/USD retreats as UK manufacturing PMI misses

British pound lost ground against the US dollar on Friday, after a report showed that manufacturing activity in the United Kingdom slowed down a bit more than projected in October, while speculation that the Federal Reserve Bank may begin paring back its stimulus program sooner than anticipated continued to provide support to dollars demand. GBP/USD […] Read more

EUR/USD tumbles to two-week lows, as lower inflation in the Euro zone may put a possible rate cut back on the table

The euro plunged to the lowest point in two weeks against the US dollar on Friday, as yesterdays weak economic data released out of the Euro zone would prompt the European Central Bank (ECB) to consider a cut in its benchmark interest rate. EUR/USD fell to a session low at 1.3518 at 7:15 GMT, also […] Read more

AUD/USD remains higher following Australian producer price inflation, Chinese PMI

Australian dollar preserved gains against its US counterpart on Friday, as producer prices in Australia rose more than projected during Q3 and Chinese manufacturing activity expanded to reach an 18-month high in October. AUD/USD touched a session high at 0.9490 at 6:35 GMT, after which consolidation followed at 0.9480, gaining 0.27% for the day. Support […] Read more

NZD/USD edges higher following Chinese manufacturing data

New Zealand dollar edged higher against its US rival on Friday, as manufacturing activity in China, New Zealands largest export market, rose to an 18-month high in October. NZD/USD climbed to a session high at 0.8278 at 6:20 GMT, after which consolidation followed at 0.8273, up 0.11% for the day. Support was likely to be […] Read more

USD/CAD slips to session lows as Canadian GDP outperforms expectations

US dollar slipped to session lows against its Canadian counterpart on Thursday, after an official report said that Canadian economy grew more than projected in August. USD/CAD reached a session low at 1.0421 at 12:37 GMT, after which consolidation followed at 1.0433, losing 0.44% for the day. Support was likely to be received at October […] Read more

USD/JPY preserves losses as Bank of Japan, Fed put monetary easing on hold

US dollar was losing ground against the Japanese yen on Thursday, after Bank of Japan (BoJ) maintained its unprecedented monetary stimulus at the policy meeting today, also reiterating that the rate of inflation in the country will almost reach the 2% inflation objective during the year starting on April 2015. At the same time, the […] Read more

AUD/USD trades higher following upbeat Australian building approvals data

Australian dollar edged higher against its US counterpart on Thursday, as building approvals in Australia considerably outstripped forecasts and despite that the greenback received support after FOMC policy decision. AUD/USD touched a session high at 0.9508 at 0:45 GMT, after which consolidation followed at 0.9502, gaining 0.19% for the day. Support was likely to be […] Read more

NZD/USD remains on negative territory following RBNZ Wheeler statement

New Zealand dollar preserved daily losses against its US counterpart on Thursday, following Reserve Bank of New Zealand (RBNZ) Governor Graeme Wheelers statement and after the central bank left its benchmark rate unchanged. NZD/USD slid to a session low at 0.8231 during the early phase of Asian trade, after which consolidation followed at 0.8244, still […] Read more

USD/CAD retreats after ADP report on US employment

US dollar slipped lower against its Canadian counterpart on Wednesday, after the ADP Research Institute reported that employers in the United States added fewer than expected job positions in October, which boosted the case that the Federal Reserve will probably delay the reduction of its monetary stimulus until early next year. Having reached its highest […] Read more