Forex News

USD/CHF rebound from 0.9540 has been capped at 0.9650. The dollar has failed to confirm above previous support turned resistance at 0.9645. The pair remains biased lower, trading below the main SMAs on the daily chart.   The US dollar has bounced up from 2-month lows at 0.9540 to pare losses against the Swiss franc….

US President Donald Trump said on Friday that they will impose tariffs on European car imports if the EU doesn't lower tariffs on American lobsters. "EU charges US seafood tariffs it doesn't charge Canada," Trump added, as reported by Reuters. Trump further noted that he asked his trade advisers to identify Chinese products to hit with tariffs…

Sterling's rally peaks at 1.2725 and the pair pulls bach to 1.2660 area. The pair remains capped below the 200-day moving average, at 1.2680. Above 1.2680, next resistance levels might be at 1.2725 and 1.2850. The sterling has rallied against the dollar for the seventh consecutive day, extending its uptrend from 1.2260 area to levels…

"Today’s Employment Report supports our view that we will see a decent rebound in GDP growth in Q3," noted Rabobank analysts. Key quotes "However, the extreme swings in economic activity that we are now seeing are caused by the lockdown and reopening of the economy, and it will take until Q4 before we see old…

Wall Street's main indexes surge higher on upbeat NFP data on Friday. S&P 500 Energy Index gains more than 7%. Occidental Petroleum Corp (OXY) shares are up more than 30%. Major equity indexes in the US started the day sharply higher on Friday as the upbeat jobs report provided a boost to risk sentiment. As…

The Federal Reserve Bank of New York announced on Friday that it will purchase approximately $4 billion in Treasury securities every day next week.  With this decision, the total amount of weekly purchases will be lowered to $20 billion from $22.5 billion this week.  Market reaction The US Dollar Index largely ignored this announcement and was last seen gaining 0.18%…

According to analysts at Wells Fargo, the surprising strength in nonfarm employment and decline in the unemployment rate is more improvement than what they expected to see this soon as businesses start to re-open. Key Quotes:  “The sudden shutdown in economic activity that quickly spread through the economy in March and early April appears to…

The S&P 500 is breaking to 3.5-month highs.  The level to beat for buyers is the 3267 resistance.    S&P 500 daily chart   The S&P 500 is accelerating to fresh 3.5-month highs as the bulls remain in control. The market is erasing the corona crash as economies are reopening. The break above the 3180…

EUR/USD rally loses steam near 1.1400 and drops back below 1.1300. The euro pares gains with the USD picking up after upbeat US payrolls figures. Payrolls data might make the USD great again – TD Securities. The euro is about to put an end to an 8-day winning streak which has pushed the pair from…