Global Foreign Exchange Market News Update

The Federal Reserve chairman Janet Yellen took a positive stance about the United States economy at last week’s U.S. Federal Reserve’s annual convention for global central bankers in Jackson Hole, Wyoming and market watchers took notice. The greenback spiked 0.4% versus the Japanese Yen to touch ¥102.24 while the European single currency stayed unchanged at […]

USD advances despite weak data

Risk aversion seems to be in play these days, as the US dollar was able to rake in gains even after the economy printed weaker than expected reports. Existing home sales slumped to 5.39 million from 5.57 million, worse than the estimated fall to 5.52 million, while the house price index printed a meager 0.2% […]

Global Foreign Exchange Market News Update

GBP/USD is currently trading at about 1.3170, GBP/EUR is trading at about 1.1610 with GBP/EUR and GBP/USD both higher than where they were this time on Monday. The Sterling benefiting from a little bit of a risk-on atmosphere that we saw throughout the course of Monday session and we also saw the U.S. dollar weaken […]

Greenback retreats on FOMC minutes

The release of the FOMC July meeting minutes forced the Greenback to return some of its gains from earlier in the day, as policymakers seemed less inclined to hike interest rates soon. Majority of the policymakers agreed that it would be prudent to accumulate more data before making any monetary policy adjustments.   EURUSD climbed […]

BoE to Re-Purchase Bonds

GBP/USD is currently trading at about 1.2890, GBP/EUR I trading at about 1.1475, with the GBP/EUR trading at a 3 year low this Tuesday morning and the GBP/USD is also falling as it waits for the CPI data today, inflation numbers, we’ll also get jobs numbers on Wednesday and retail sales on Thursday, but fresh […]

Global Foreign Exchange Market News Update

A quick spot check at the markets from Tuesday had the Cable down at around the 1.3050 mark as we head through 08:00 BST. Something rather interesting though happened in the United Kingdom markets on Tuesday as part of the second operation of the Bank of England’s quantitative easing programme. The trading desk went to […]

Stagnation sets in amid light data and quiet Markets

A quick spot check on the markets show things are all very quiet and calm now. Summer markets are really setting their way as we work through August, so we’re seeing very quiet markets, thin liquidity and very low volumes. Nonetheless, the news flow has been slightly reduced than it would be on Monday, as […]

Sterling boosted by short squeeze

Pound pairs broke higher on Tuesday, likely due to a short squeeze ahead of the Bank of England’s interest rate decision this week. Apart from that, the UK construction PMI beat expectations by landing at 45.9 versus the projected fall to 44.2. Services PMI is up for release and no revisions to the 47.4 estimate […]

Global Foreign Exchange Market News Update

GBP/USD is currently at about 1.3240, GBP/EUR is trading at about 1.1850 as the market opens up this week’s trade. The greenback is lower over the course of the afternoon session on Friday, this continued to remain weak through the Asian session overnight after poor GDP announcement for Q2. This number came in at 1.2% […]

JPY rallies ahead of BOJ announcement

The Bank of Japan made its much-anticipated monetary policy statement, deciding to ease further from 3.3 trillion JPY to 6 trillion JPY in ETF buying. The central bank kept interest rates at their current levels and didn’t increase JGB buying so this was seen as a disappointment by most yen bears. USDJPY retreated to the […]