Forex News

EUR/JPY’s rebound run out of steam near 131.60. So far, the next support comes in at the 130.00 area. EUR/JPY failed to push the upside momentum further north of the 131.60 zone on turnaround Tuesday. The inability of the cross to resume the recovery in the very near term could prompt sellers to return to…

"We're trying to find solutions on the Northern Ireland protocol but there is not a huge amount of engagement from the EU," David Frost, the British minister responsible for implementing the Brexit deal, said on Monday, as reported by Reuters. "The delicate balance in N. Ireland Good Friday agreement risks being unsettled," Frost added. "If the EU not…

EUR/USD returns to the sub-1.1900 region on Tuesday. Yields of the German 10-year note climb to tops near -0.16%. Investors’ attention remains on Powell’s testimony. The selling bias returned to the single currency and drags EUR/USD back below 1.1900 the figure on turnaround Tuesday. EUR/USD weaker, focuses on Powell EUR/USD gives away part of the…

USD/CHF has moved into a short-term consolidation phase. However, the bias of the Credit Suisse analyst team stays higher over the next month, with short-term resistance at 0.9240. USD/CHF has entered a short-term consolidation phase “USD/CHF has entered a short-term consolidation phase over the past two days following the recent surge higher and break above…

USD/CAD stays relatively calm following Monday's sharp drop. US Dollar Index reclaims 92.00 ahead of FOMC's Chairman Powell's testimony. WTI declines below $73 after climbing to multi-year highs on Monday. The impressive rally witnessed in crude oil prices and the broad-based USD weakness caused the USD/CAD pair to suffer heavy losses on Monday. After losing…

Renewed USD buying interest prompted some fresh selling around AUD/USD on Tuesday. The Fed’s hawkish shifts, the overnight rally in the US bond yields underpinned the USD. A softer risk tone further weighed on the perceived riskier aussie ahead of Powell’s testimony. The AUD/USD pair refreshed daily lows in the last hour, with bears making…

G20 financial leaders are expected to endorse in July a potential OECD deal on minimum global corporate tax, Reuters reported, citing the draft communique. Key quotes from the draft "After many years of discussions and building on the progress made last year, we have achieved a historical agreement on a new, fair and stable international tax…

Senior Economist at UOB Group Alvin Liew comments on the latest BoJ meeting. Key Quotes “The Bank of Japan (BOJ), as widely expected, decided to keep its policy measures unchanged at its Monetary Policy Meeting today (18 Jun) from its April MPM.” “The risks to economic outlook are still related to high uncertainties over COVID-19…

The European Central Bank (ECB) Governing Council Member Olli Rehn made some comments on the economy and monetary policy during his appearance on Tuesday. Key quotes “Q2 data point to a fairly fast recovery in the euro area.” “PEPP buying is flexible, follows market conditions.”

The German industrial sector has got through the coronavirus pandemic well, the country’s Chancellor Angela Merkel said on Tuesday. Additional comments “Better than in some other European countries.” “State aid necessary as an exceptional measure, but it must be rolled back when the situation improves. “ “Will have to spend gigantic amounts in the next…