forex news

Forex News – RBA keeps rate at 2.5% as falling iron ore prices drag economy

Posted on December 2, 2014 at 12:03 pm GMT

The Reserve Bank of Australia held its monthly monetary policy meeting on Tuesday and made a decision to keep its overnight cash rate unchanged at 2.5%. This the 16th consecutive month that the benchmark interest rate has been left at a record low as the central bank attempts to give the economy a chance to recover from the effects of a slowing mining sector and falling export prices. The RBA decision was widely expected by the market which is probably [..]

Forex News – SNB commits to 1.20 EURCHF peg after referendum

Posted on December 1, 2014 at 1:54 pm GMT

A referendum was held on Sunday in Switzerland for a proposal to boost gold reserves. The “Save our Swiss gold” initiative was rejected by a “no” vote by 77% of Swiss voters. If the vote went through, the proposed measures would have required the Swiss National Bank (SNB) to hold 20% of its reserves in gold. The current level of gold reserves is 8%. A “yes” vote would have forced the SNB to buy gold alongside any currency interventions. The [..]

Forex News – Week Ahead – Nonfarm payrolls and ECB are highlights of the week

Posted on November 28, 2014 at 1:51 pm GMT

The European Central Bank policy decision will be closely watched next Thursday and will be one of the main highlights of the week as investors are eager to see whether the ECB will take further steps to bolster the sluggish Eurozone economic recovery. The majority of analysts do not foresee any change in policy at this meeting as the ECB has only recently launched new stimulus measures which include the commencement of a new asset purchase scheme in October. ECB [..]

Forex News – US third quarter GDP revised higher pointing to strong growth ahead

Posted on November 26, 2014 at 2:14 pm GMT

The US dollar rose on better-than-expected growth data on Tuesday but other mixed US data afterwards pared gains with downbeat housing prices and consumer confidence. Real gross domestic product (GDP) – the value of the production of goods and services adjusted for price changes – increased at an annual rate of 3.9% in the third quarter of 2014, according to the “second” estimate released by the US Bureau of Economic Analysis. In the advance estimate, the increase in real GDP [..]

Forex News – Euro pauses decline after upbeat German Ifo

Posted on November 24, 2014 at 10:04 am GMT

The euro erased some losses from Friday’s sharp decline and managed to move back above the key 1.2400 level in early European session trading on Monday. The rebound followed data from the German Ifo Institute that indicated German business confidence rose for the first time in seven months in November. The Ifo Business Climate Index beat expectations and rose to 104.7 from October’s 103.2. This was the first increase since April this year and surprised markets which expected a drop [..]

Forex News – Week Ahead – GDP from across the globe are highlights of the week

Posted on November 21, 2014 at 10:41 am GMT

GDP data appear to be the focus of next week as various countries will be releasing growth figures. The first country to release GDP will be the United States, where an update for the third quarter growth figures are due on Tuesday. This comes after a first estimate showed the US economy expanded at an annualized rate of 3.5%. Any downward revision to the initial figure will concern the Fed. US Flash services PMI for November are out on Monday [..]

Forex News – Eurozone recovery at risk as Flash Composite PMI falls to 16-month low

Posted on November 20, 2014 at 10:51 am GMT

A (source: Markit) A series of business surveys that were released out of the Eurozone today indicated recovery in the area lost steam in November, fuelling concerns over another recession. Business growth was weaker-than-forecast this month and new orders have fallen for the first time in more than a year. The Purchasing Managers’ Index published by Markit showed that the flash composite number for the Eurozone dropped to 51.4 points in November from 52.1 in October. Although the figure is [..]

Forex News – BoJ holds stimulus as Japan’s PM dissolves parliament

Posted on November 19, 2014 at 1:07 pm GMT

On Wednesday the Bank of Japan released a monetary policy statement which showed the central bank’s massive stimulus program was kept unchanged as widely expected. The BoJ committed to continuing its massive stimulus measures by purchasing more government bonds in order to increase the monetary base at a pace of 80 trillion yen a year. These stimulus measures were renewed last month when the Bank surprised markets by announcing its decision to expand its quantitative easing program from 60-70 trillion [..]

Forex News – BoJ eases to fight deflation

Posted on October 31, 2014 at 12:49 pm GMT

For the first time in over a year and a half, the Bank of Japan decided to launch another round of stimulus measures, known as quantitative easing. After concluding its monetary policy meeting on Friday, the Japanese central bank announced it would raise its monetary base target to an annual increase of 80 trillion yen from 60-70 trillion yen. The reason behind the BoJ’s move today was to combat risks of deflation, as the Bank was concerned that its 2% [..]

Forex News – Dollar firms as Fed ends QE, sees improving US labor market

Posted on October 30, 2014 at 11:05 am GMT

The Federal Reserve concluded its 2-day policy meeting on Wednesday with a surprisingly upbeat statement by the FOMC (Federal Open Market Committee). The US central bank announced that its stimulus program of bond purchases will stop at the end of October, as was widely expected by the markets. What was not expected was the more hawkish tone in the statement as it showed that the Fed had more confidence in the US economy and did not seem too bothered about [..]

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