FX News

Today's FXStreet Newswire

The latest news that can have the most noticeable market impact

October 21, 2019
USD/CAD struggles to pull away from 1.31 as focus shifts to Canadian election
US Dollar Index fails to make a meaningful recovery on Monday. Crude oil prices push lower to help the pair limit its losses. Canadians head to the polls for the 43rd general election. The USD/CAD pair dropped below the 1.31 handle for the first time in nearly three months on Monday and has gone into a…
October 21, 2019
EUR/USD technical analysis: Euro easing from October highs below 1.1160 level
The Greenback is starting to gain some traction at the end of the London session this Monday. EUR/USD is trading near daily lows approaching the 1.1140 support.    EUR/USD daily chart     On the daily chart, the common currency is trading in a bear trend below its 200-day simple moving averages (DSMAs). The Euro…
October 21, 2019
GBP: Short-squeezing not evident yet – ING
Francesco Pesole, FX strategist at ING, explains that CFTC data referring to the period 9-16 October surprisingly shows a flattish development in GBP/USD net speculative positioning, despite a significant sterling rally in the same period (approximately +4% vs USD), triggered by hopes of a new Brexit deal. Key Quotes “We might need to wait for…
October 21, 2019
UK’s Bercow: Application for Brexit delay is not persuasive as change of circumstance
Speaker of the lower house, John Bercow, on Monday announced that there will not be a meaningful Brexit vote.  "There are two issues: one of substance, the other of circumstance. Today's motion seeks approval for same things as Saturday's," Bercow noted. "It is clear the motions are in substance the same. This matter was decided fewer than…
October 21, 2019
USD/CAD technical analysis: Greenback starts the week near three-month lows against CAD
USD/CAD is under pressure at levels not seen since July 2019.  The level to beat for bears is the 1.3084 support.    USD/CAD daily chart     USD/CAD, on the daily chart, is trading sideways below the main daily simple moving averages (DSMAs). The market is flirting with the 1.3100 handle this Monday.    USD/CAD…
October 21, 2019
China: Gradual slowdown set to roll on – RBS
Analysts at the Royal Bank of Scotland note that China’s gradual slowdown continued in Q3 with GDP rising 6%y/y, the slowest pace since at least the early 1990s. Key Quotes “Tariffs are biting (exports fell 3.2% in September) but there’s a squeeze at home, too. Relatively tight credit conditions are keeping investment subdued. Meanwhile consumers…
October 21, 2019
Gold technical analysis: Remains confined in a one-week-old trading range
Attempted move up struggles to sustain above 200-hour SMA Set-up warrants some caution before placing aggressive bets. Gold edged higher and refreshed daily tops during the early North-American session, albeit remained well within a broader trading range held over the past one week or so.   The recent range-bound trading action constituted towards the formation…
October 21, 2019
US Dollar Index stays apathetic in the low-97.00s
DXY navigates the 97.20/30 region on Monday. Decent support is expected to emerge at 97.00. US 10-year yields climbed to 1.79%. The US Dollar Index (DXY), which gauges the Greenback vs. a bundle of its main competitors, clings to its daily gains in the 97.25/30 band so far on Monday. US Dollar Index focused on…
October 21, 2019
Wall Street opens higher led by strong gains in financials
Risk appetite remains strong on renewed trade optimism. Rising US T-bond yields provide a boost to financial shares. Defensive sectors stay in the negative territory in the early trade. Major equity indexes in the United States started the day in the positive territory on Monday on the back of the upbeat market sentiment. As of…
October 21, 2019
Canada: Retail sales likely to rise by 0.6% in August – TDS
In view of analysts at TD Securities, Canadian retail sales are forecast to rise by 0.6% in August on another sizeable pickup in motor vehicle sales, leaving the ex-auto figure little changed for a second consecutive month. Key Quotes “August was a record month for light truck sales, helped by ideal weather conditions, a recovering…