Forex News

EUR/JPY extends its strong defense of key support at 127.93/88. Analysts at Credit Suisse look for a retest of the early September highs at 130.65/75, above which would now see a bullish “double bottom” base complete. Important basing process underway “With the market already pushing above the 55-day and 200-day averages, we believe a more…

Kansas City Fed President Esther George said on Friday that the criteria for bond taper have been met and added that the case for ongoing monthly asset purchases has waned, as reported by Reuters. Additional takeaways "Pandemic and policy response has pushed consumption, labor choices, out of equilibrium; normal patterns likely to emerge but may…

New Home Sales in US continued to increase in August. US Dollar Index stays in the positive territory near 93.30. New Home Sales in the US increased by 1.5% on a monthly basis in August to a seasonally adjusted annual rate of 740,000, the data published jointly by the US Census Bureau and the Department…

Resurgent USD demand prompted fresh selling around EUR/USD on Friday. Hawkish Fed, rising US bond yields, the cautious mood underpinned the USD. The downside seems limited ahead of the German federal elections on Sunday. The EUR/USD pair refreshed daily lows during the early European session, with bears now awaiting a sustained break below the 1.1700…

Wall Street's main indexes are edging lower on Friday. Defensive sectors trade in the positive territory after the opening bell. FOMC Chairman Jerome Powell will speak at Fed Listens event. Major equity indexes in the US started the last day of the week in the negative territory amid souring market mood. As of writing, the…

Cleveland Federal Reserve Bank President Loretta Mester said on Friday that they will take action if inflation is not consistent with the Fed's goals, as reported by Reuters. Additional takeaways "Will still be buying assets after tapering starts but at a reduced pace, which still puts some downward pressure on rates." "Asset purchases are not…

FOMC Chairman Jerome Powell will be delivering his opening remarks at the virtual event titled "Fed Listens: Perspectives on the Pandemic Recovery." Powell's speech will start at 1400 GMT. About Jerome Powell (via Federalreserve.gov) Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018,…

Repeated successful defense of key price support at 109.12/11 and then a bullish “outside day” has acted as the catalyst for USD/JPY to stage a strong move higher. Economists at Credit Suisse look for a break above the 110.81 August high for a test of long-term resistance, starting at 111.66 and stretching up to 112.40. …