forex news

Forex News – UK inflation in line with forecasts, sterling stable

Posted on September 16, 2014 at 10:11 am GMT

Sterling was given a slight boost after the headline UK inflation figure came in line with forecasts. As expected by economists, CPI rose 1.5% year-on-year in August, the lowest increase since May, compared with 1.6% in July. According to the Office of National Statistics (ONS) on a month-on-month basis, inflation rose 0.4% in August – also in line with expectations, after falling 0.3% month-on-month in July. Part of the contribution to the decline in the overall inflation rate has been [..]

Forex News – Weak Chinese factory output spark fears of hard landing

Posted on September 15, 2014 at 10:12 am GMT

The world’s second-largest economy may be at risk of a sharp economic slowdown as data released on Sunday show that Chinese factory output in August grew at the slowest pace in nearly six years compared to a year ago. The main catalyst to the weakening in growth is due to a slowing down in the country’s property sector. The cooling housing market has resulted in a trickle-down effect to other sectors in the economy such as the cement and steel [..]

Forex News – Week Ahead – Scottish vote and FOMC highlights of the week

Posted on September 12, 2014 at 11:42 am GMT

The main highlight of next week will be the Scottish referendum. Markets will focus on the outcome of the vote for independence on September 18th. Polls in the last two days have shown that supporters of staying in the Union have managed to gain a lead ahead of the “Yes” campaign that is pro-independence. A YouGov poll for The Times and Sun newspapers showed today that the “NO” campaign has regained a 4-point lead over the separatists. According to the [..]

Forex News – Forecast-beating Australian jobs report boosts aussie

Posted on September 11, 2014 at 9:55 am GMT

The Australian dollar surged by as much as half a US cent early today in reaction to an upbeat Australian employment report which further reduced any chance of a cut in interest rates by the Reserve Bank of Australia. The unemployment rate fell to 6.1% and reversed most of July’s unexpected jump to 6.4%. Expectations were for a drop to 6.3%. The number of new jobs created in August rose by the most in about 30 years by 121,000, beating [..]

Forex News – Carney hints BoE will hike rates in early 2015 as UK labour market recovers

Posted on September 10, 2014 at 9:20 am GMT

Sterling got a bit of a reprieve from its recent decline after Bank of England Governor Mark Carney’s speech on Tuesday to UK trade unions. The central bank chief signaled that UK interest rates could rise as early as the spring of 2015 if the labour market recovers. In the last BoE policy meeting in August, two out of the nine Monetary Policy Committee members voted for a rate rise, indicating a start in the shift in the trend which [..]

Forex News – Eurozone economic morale worsens in August to 8-month low

Posted on August 28, 2014 at 11:23 am GMT

A slew of data from the Eurozone today were not very inspiring as they did not provide optimism for the region’s economic recovery. Economic sentiment surveys for the 18 countries in the euro-area were overall soft. According to the European Commission, economic morale in August was the worst since December 2013, falling more-than-expected to 100.6 from a previous revised 102.1 in July. Forecasts for the index were for a drop to 101.5. A main catalyst for the decline was a [..]

Forex News – Week Ahead: String of US data to watch for

Posted on August 22, 2014 at 2:48 pm GMT

After this week’s highlight event at Jackson Hole, the markets’ focus next week will remain on the United States where a series of important data will be released, including growth numbers. On Monday, the US will release Commerce Department will releases figures for new home sales, which are forecast to show a rebound in July. On Tuesday, durable goods orders are due. Thursday will be important as the second estimate of gross domestic product (GDP) for the three-month period will [..]

European Session – Dollar eases on caution ahead of Yellen

Posted on August 22, 2014 at 1:34 pm GMT

All eyes are on Federal Reserve Chair Janet Yellen’s keynote speech later today at the Jackson Hole Symposium of central bankers. European Central Bank Chief Mario Draghi also due to speak at the gathering. Due to such key risk events, market participants preferred to wait on the sidelines and were unwilling to enter new positions. This kept currency markets calm today, with little movement. A lack of other economic data releases also kept flows to the minimum. There were some [..]

Forex News – Dollar rallies as Fed talks of exit-strategy

Posted on August 21, 2014 at 8:57 am GMT

The markets reacted positively to the Federal Reserve’s more hawkish tone regarding interest rates. The July policy meeting minutes released on Wednesday showed that the Federal Open Market Committee came closer to exiting the current monetary policy. The minutes from the central bank’s July 29-30 meeting revealed that many FOMC policy makers were uncomfortable with leaving rates low for an extended period of time and many favoured raising rates sooner than previously anticipated. Their views were based on the fact [..]

Forex News – Change in MPC voting pattern lifts sterling

Posted on August 20, 2014 at 2:07 pm GMT

The Bank of England released its policy meeting minutes from the August 6-7 meeting today, surprising markets by showing a more hawkish inclination than usual. Two of the central bank’s 9-member Monetary Policy Committee (MPC) were in favour of hiking interest rates in August. This was the first time in three years that not all nine MPC members voted in unison not to raise rates, ever since the benchmakr rate was put to record lows of 0.5%. Martin Weale and [..]

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