Forex News

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Week Ahead – China GDP, ECB meeting and May’s Brexit speech in focus

Posted on January 13, 2017 at 2:29 pm GMT

The coming week will be a busier one for financial markets as key data releases and central bank meetings get underway. GDP figures out of China and the European Central Bank’s policy meeting will be the highlights but the biggest headline grabber could be the much-awaited speech on Brexit by British Prime Minister, Theresa May. Also coming up next week is the World Economic Forum in Davos, Switzerland on January 17-20, though major central bank heads appear to be giving [..]

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Forex News – Lack of Trump policy detail drives dollar to one-month lows; peso tumbles

Posted on January 12, 2017 at 1:13 pm GMT

Donald Trump’s highly anticipated press conference on Wednesday left financial markets disappointed as the US President-elect provided little new detail on what economic policies he will pursue once he takes office on January 20. The US dollar fell sharply against its major counterparts as traders had been hoping that Trump would clarify some of his campaign pledges such as on tax cuts, infrastructure spending and trade policy. Expectations of a fiscal stimulus by the incoming administration had triggered the latest [..]

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Week Ahead – 2017 gets off to busy start with Non-farm payrolls and PMI data

Posted on December 30, 2016 at 1:22 pm GMT

As the holiday period comes to an end, the economic calendar is looking more packed over the coming week despite many major markets being closed on January 2nd. The US and the Eurozone will have the busiest calendars, while PMI figures out of China and the UK will also be important. China manufacturing PMI likely to ease in December Whilst most of the world will be celebrating the New Year, PMI data out of China will start the week on [..]

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Forex News – Review of 2016

Posted on December 29, 2016 at 12:08 pm GMT

The year 2016 got off to a turbulent start, with worries about China’s economy escalating once again and fresh volatility in financial markets triggering concerns about a deepening crisis. But despite bigger shocks that followed, namely, Brexit and the US election outcome, financial markets appear to be ending the year on a positive note, even as further economic and political risks lie ahead in 2017. China slowdown triggers market turbulence China and its slowing economy was much of the focus [..]

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Week Ahead – Japanese data to dominate quiet holiday week

Posted on December 23, 2016 at 11:25 am GMT

As most Western markets close for the Christmas and New Year celebrations, Japanese data will come under the spotlight next week. In addition to key data releases, the Bank of Japan’s meeting minutes and summary will be watched too, while there will also be some US data to keep traders busy. Most major markets will be closed on Monday for the Boxing Day holiday but the Bank of Japan’s minutes of the October/November policy meeting might attract some coverage. However, [..]

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Week Ahead – Bank of Japan policy meeting and RBA meeting minutes in focus

Posted on December 16, 2016 at 1:40 pm GMT

After a busy week which was dominated by central bank meetings that included the Federal Reserve and Bank of England, markets will also await another major central bank meeting next week – the Bank of Japan. The Fed’s highly anticipated meeting culminated with a decision on Wednesday to raise the Fed funds rate by 25 basis points as expected but the US central bank surprised the markets with a revision to its rate hiking cycle and indicated it would raise [..]

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Forex News – Dollar breaks above 117 yen as Fed raises rates, ups outlook

Posted on December 14, 2016 at 9:50 pm GMT

The US Federal Reserve announced a hike of 25 bps in its benchmark rate at its policy meeting today, in a decision that was widely anticipated by financial markets. The move is the first increase in 2016 and the first since last December’s historic decision to raise rates for the first time since the financial crisis. Federal Open Market Committee (FOMC) members were unanimous in voting in favour of raising the federal funds rate to a target range of 0.50-0.75% [..]

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Forex News – Sterling rises after UK inflation jumps to 2-year high in November

Posted on December 13, 2016 at 2:41 pm GMT

The British pound was boosted after data showed headline inflation in the UK rose at the fastest pace in two years in November. CPI rose to 1.2 percent year-on-year in November from 0.9 percent in October, being boosted by rising gasoline and clothing prices. Sterling weakness has been another factor behind the rise in consumer price inflation. Today’s reading was a little firmer than expected.  Most economists forecasted an increase to 1.1 percent. The core rate rose to 1.4 percent from [..]

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Forex News – Oil jumps 5% after first non-OPEC cut since 2001

Posted on December 12, 2016 at 4:42 pm GMT

Crude oil prices surged to 17-month highs on Monday after non-OPEC countries reached an agreement with OPEC members to cut oil output on Saturday. The deal is the first joint coordination between OPEC and non-OPEC states since 2001 and involves cutting output by 1.758 million barrels per day. It becomes effective as of January 1, 2017. OPEC members had already agreed on November 30 to cut the bloc’s output by 1.2 million bpd for the first time since 2008. It followed [..]

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Forex News – China reports rising consumer and producer prices in November

Posted on December 9, 2016 at 3:16 pm GMT

China’s economy has shown signs of recovery as inflation rose in November, driven higher by pick-up in industrial activity. Producer prices rose the highest in five years last month as a result of the impact of rising industrial commodities prices globally. China is the world’s second largest economy and has a heavy manufacturing sector. It is a major consumer of raw materials such as coal, steel and copper. The producer price index jumped 3.3 per cent year-on-year in November, the most [..]

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