Forex News

Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB's annual Forum on Central Banking. Key quotes Powell: "We are very strongly committed to our tools to bring down inflation." Powell: "Is there a risk we would go…

Metals prices have been under pressure for weeks. Although the market could suffer further falls, economists at Commerzbank expect metals prices to soar in the coming year.s Supply will not be able to keep pace with demand in the long term “If the economy does lose momentum or even slides into recession in the major…

While testifying before the Treasury Committee on Wednesday,  Swati Dhingra, who is due to become a Bank of England policymaker in August, said that sterling weakness does not tend to boost UK exports, as reported by Reuters. Additional takeaways "UK's trade openness appears to have declined more than peers, hard to be fully certain that is…

USD/JPY scaled higher for the fourth straight day and shot to a fresh 24-year peak on Wednesday. Fed Chair Jerome Powell’s hawkish remarks boosted the USD and remained supportive of the move. Retreating US bond yields might turn out to be the only factor capping the upside for spot prices. The USD/JPY pair prolonged a…

A barrel of Brent Oil last traded at around $110. In mid-June, the price was still around $125. Economists at Commerzbank expect prices to drop towards $95 by end-2022. Oil market between supply risks and demand concerns “In the short-term, the massive release of oil reserves by the major consuming countries will provide relief.” “The…

Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB's annual Forum on Central Banking. Key quotes Bailey: "Task is to return to low inflation." Bailey: "We are being hit by a very large real income shock." Bailey:…

Central bank governors are set to speak at the European Central Bank’s (ECB's) Sintra conference. However, gold is unlikely to break its recent trading range, strategists at TD Securities report. Hawkish Fed regime clashes with recession fears “Central banker headlines will hit the wire today with Fed Chair Powell set to speak on a panel…

Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB's annual Forum on Central Banking. Key quotes Powell: "Markets since last fall, by and large, have been pretty well aligned with where the Fed is going." Powell: "Market…

Economists at TD Securities expect industry-level GDP to rise by 0.3% in April. The Canadian data will have little to no impact on the loonie, with the USD/CAD pair expected to find solid support at 1.28. Relief in risk assets to be short-lived “We expect industry-level GDP to rise by 0.3% in April, in line…

EUR/USD adds to the weekly leg lower around 1.0500. Extra losses appear likely in the short-term horizon. EUR/USD adds to the recent weakness and revisits the 1.0480 region on Wednesday, where some initial support turned up. The inability to leave behind the 4-month line near 1.0650 should keep the downside pressure unchanged around the pair….