Foreign Exchange

Sterling set for fifth weekly gain against euro after shock French election call

The euro fell to its lowest against the pound since late August 2022 this week, after the success of far-right parties in a European Union parliamentary election at the weekend prompted French President Emmanuel Macron to call a snap vote in his country, which spooked investors. The pound was already in the ascendant against the euro, which is already up ...

Rouble swings to opaque trading territory after new US sanctions

The Russian central bank set its official rouble-dollar rate for Friday at 88.21, implying a strengthening of about 0.9% from the previous close. But the sanctions caused confusion in how to determine accurately the currency's exact value. On the interbank market, the rouble traded between a 10-day low of 90.25 and a near one-year high of 86.28, eventually settling 0.4% ...

Dollar gains on hawkish Fed, even as inflation cools

NEW YORK (Reuters) -The dollar gained on Thursday despite a soft U.S. producer price inflation report for May, after the Federal Reserve adopted a hawkish tone at the conclusion of its meeting on Wednesday.Data on Thursday showed that U.S. producer prices unexpectedly fell in May, with the headline producer price index (PPI) dropping 0.2% last month after advancing by an ...

BoJ's announcement will weaken the yen – Julius Baer

“Bond purchases will now be phased out cautiously and will only begin in July. The end of bond purchases later than expected and unchanged interest rates disappointed and weakened the yen,” pointed out the Swiss group.David Kohl, chief economist at Julius Baer, ​​says details on how bond purchases will be gradually phased out are expected only at the next meeting, ...

Dollar just lower; euro set for sharp weekly loss on political turmoil

At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 105.125.Despite these small losses, the dollar is on course for small gains this week after the Federal Reserve left the funds rate on hold at 5.25%-5.5%, but reduced the number of cuts projected this year to just ...

Asia FX weakens as hawkish Fedspeak offsets inflation relief; BOJ awaited

Uncertainty before a Bank of Japan meeting and concerns over U.S.-China trade ructions also weighed on sentiment towards Asian currencies. The Japanese yen’s USDJPY pair moved little after seeing some volatility earlier in the week, with traders now awaiting more cues on policy from the BOJ on Friday.The central bank is likely to keep rates steady, but is expected to ...

US Inflation Dips Unexpectedly to 3.3% in May, Fed Remains Cautious – 13 June 2024

US inflation and core inflation declines in MayFederal Reserve holds rates as expectedUS dollar retreats against the majors, US stock market jumpsThere was good news on the inflation front, as inflation decelerated in May and was lower than anticipated. This points to inflationary pressures easing, which is what the Federal Reserve wants to see before lowering interest rates.The US consumer ...
/ Daily Forex

Forex Today: Lower US Inflation Sends Stocks Soaring Despite Cautious Fed – 13 June 2024

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks ...
/ Daily Forex

Argentina economy snapshot: central bank dollar buying spree slows

BUENOS AIRES (Reuters) - Argentina's central bank has started to put the brakes on its aggressive buying of dollars, a key push to build up reserves under new libertarian President Javier Milei, something analysts pegged to weaker-than-expected sales of grains by local farmers.The grains producing South American nation's central bank made net purchases of dollars in the first week of ...

Sterling ekes out gain as investors look beyond soft growth figures

LONDON (Reuters) - The pound edged higher on Wednesday even as data showed economic growth stagnated at the start of the second quarter, as analysts looked beyond one-off factors and still expected the economic recovery to gather pace in the coming months. Britain's economic growth was flat month-over-month in April, the Office for National Statistics said, weighed down partly by ...

Latest Announcements

(Powered by Nasdaq)

Some text in the Modal..
Ok Cancel

    Time Confirmation


    Confirm your order dispatch time:

    Select Time & Date:

    (Set your dispatch in UK-Time Zone-Only)