Forex News

The European Central Bank (ECB) Governing Council member Olli Rehn dismissed yield curve control as a tool to enhance the financing conditions in the euro area while speaking in an interview on Finland’s YLE TV1. Key quotes (via Bloomberg) Yield curve control “would be a rather mechanical approach” to the question of financing conditions, and “not sensible” given…

In order to discuss further tightening of the travel restrictions, the British ministers are likely to meet on Monday, the BBC News reported on Saturday. The government could announce a 10-day quarantine period in a hotel for incoming travelers, for which they would have to pay, the BBC said. This comes after Prime Minister Boris…

Gold (XAU/USD) fell 1% on Friday as risk-off mood and stellar US Markit Manufacturing PMI boosted the US dollar. Despite the decline, the yellow metal managed to close the week above the $1850 level, booking the first weekly gain in three weeks. Expectations of a massive US fiscal stimulus under the Biden administration kept the…

Major US equity bourses closed the final trading day of the week in the red. A number of factors were cited as being behind the more defensive equity market tone. Stocks were given a mild boost following much stronger than anticipated preliminary January US Markit PMI numbers. Major US equity bourses closed the final trading…

AUD/USD trades above lows of the day set during the European morning just above 0.7700. Soft retail sales and a risk-off market vibe weighed on the Aussie on Friday. AUD/USD is consolidating just above lows of the day that were set during the European morning just to the north of the 0.7700 level. Helping the…