Forex News

According to analysts at CitiBank, the recent weakness seen in the Canadian dollar weakness is driven by news of aluminum tariffs in the works with the US announcing it will place a 10% tariff on imports of Canadian raw aluminum. They add that the rising tensions between China and the US and investors' attention to…

XAU/USD erases gains after finding resistance at the $2050 zone. US Dollar losses strength during the American session, sill flat for the day. Gold prices spiked to the upside after the beginning of the American session but then pulled back erasing gains. XAU/USD jumped to $2049.70/oz, and as of writing, it trades at $2033, practically…

US' household expectations regarding their employment prospects and their year-ahead financial situation slightly deteriorated in July after two months of gradual improvement, the Federal Reserve Bank of New York noted in its latest Survey of Consumer Expectations. Key takeaways "Median inflation expectations increased at the one-year horizon from 2.7% in June to 2.9% in July."…

Pound gains momentum and prints fresh highs versus USD, EUR. Wall Street mixed on Monday, as DXY erases gains. The GBP/USD pair bounced from near 1.3000 to 1.3103, hitting a fresh daily high as the US dollar moved lower across the board. The greenback lost strength, favouring the rebound in cable. A stronger pound is…

Florida's Department of Health announced on Monday that the number of confirmed coronavirus cases in the state increased by 4,155 to a total of 536,961, as reported by Reuters. Further details of the daily publication revealed that COVID-19-related deaths rose by 93 to 8,408 and the hospitalizations rose by 76 to 6,943. Market reaction Investors don't seem to be…

USD/CAD extended its daily slide in early American session. US Dollar Index erases early gains, drops below 93.50. WTI climbs above $42 and provides additional boost to CAD. The USD/CAD pair spent the first half of the day fluctuating in a tight range below 1.3400 and came under renewed bearish pressure in the early American session….

US JOLTS Job Openings rose by 518,000 to 5.9 million in June. US Dollar Index posts small daily losses below 93.50. The number of Job Openings in the US rose to 5.9 million on the last business day of June, the US Bureau of Labor Statistics (BLS) said in its latest Job Openings and Labor Turnover Summary (JOLTS) report on…

Wall Street's main indexes registered small gains on Monday. S&P 500 Energy Index gains more than 1%. US Treasury Secretary Mnuchin says there is room for compromise in coronavirus aid talks. Major equity indexes opened higher on Monday even though investors remain cautious while US lawmakers struggle to reach agreement on the next coronavirus relief…

Strategists at TD Securities remark that the AUD/USD pair has found support at the 0.7140 today and is now trading at 0.7175, up 0.20% on  the day. The aussie should see a test of the 0.7243 18-month high amid USD weakness. Key quotes “We note that AUD/USD found good support at a trendline that intersects…