Forex News

16:30
September 25, 2020
Fed’s George: Bank strains could still materialize
The Federal Reserve's monetary policy and changing capital rules may hasten the ongoing consolidation in the banking industry, Kansas City Federal Reserve Bank President Esther George said on Friday, as reported by Reuters. In her prepared remarks for delivery to the Independent Bankers of Colorado, George warned that bank strains could still materialize and noted that community banks…
16:30
September 25, 2020
EUR/GBP: Brexit uncertainty likely to push it to 0.92 – Rabobank
Analysts at Rabobank, hold the view that while EUR/GBP may slip further on a one month view, but politicians may still pave the way for a moderate recovery in six months. They warn the cross will likely rise to 0.92.  Key Quotes:  “The pound is shaping up to have its worst month since October 2016….
16:15
September 25, 2020
USD: US election in focus next week – MUFG
Analysts at MUFG Bank, argue financial markets could be troubled by a poor performance by US candidate Biden at next week’s first presidential debate. They see the yen as the potential biggest gainer in a risk-off environment. Key Quotes: “The US dollar has advanced versus all G10 currencies this week as concerns grow over the…
16:15
September 25, 2020
UK: Differences on fisheries and level playing field with EU remain significant
Commenting on the latest round of Brexit talks, "there remains a lot of work to do and either outcome is still possible," a UK government official said on Friday, as reported by Reuters. "In particular, the differences on fisheries and the level playing field remain significant," the official added. "If the gaps in these areas…
16:15
September 25, 2020
Mexico: Easing cycle has further to run – BBVA
On Thursday, the Bank of Mexico cut the key interest rate by 25 basis points as expected to 4.25%. According to the Research Department at BBVA, the accompanying statement remained dovish but was more cautious, according to analysts at the BBVA Research Department. They point out Banxico’s Board remains more concerned about the economic outlook…
16:00
September 25, 2020
NZD/USD: Kiwi could weaken if this current risk-off theme persists into next week and beyond – MUFG
Analysts at MUFG Bank, point out that the Kiwi (NZD) could suffer on new measures from the Reserve Bank of New Zealand brought forward on risk-off. They had a trade idea of shoring NZD/USD at 0.6550 with a target at 0.6300 and a stop-loss at 0.6710.  Key Quotes: “The RBNZ signalled its willingness to ease…
16:00
September 25, 2020
Atlanta Fed’s GDPNow unchanged at 32% for Q3 after US data
The real gross domestic product (GDP) in the United States is expected to grow by 32% in the third quarter of 2020, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday. "After this morning’s manufacturing report from the US Census Bureau, an increase in the nowcast of third-quarter real nonresidential equipment investment growth from 32.6% to 38.1% was…
16:00
September 25, 2020
GBP/USD unable to recover from monthly lows, drops back to the 1.2700 area
Pound consolidates weekly losses versus the US dollar. DXY prints fresh monthly highs, remains strong even as Wall Street rebounds. The GBP/USD printed a fresh two day low at 1.2686 during the American session. As of writing, it is trading at 1.2700/05, down 50 pips for the day and 210 pips from the level it…
15:30
September 25, 2020
US: NY Fed’s GDP Nowcast edges lower to 14.1% for Q3 after this week’s data releases
The US economy is expected to expand by 14.3% in the third quarter and 5% in the fourth quarter, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday.  "News from this week’s data releases decreased the nowcast for 2020:Q3 by 0.2 percentage point and decreased the nowcast for 2020:Q4 by 0.3 percentage point," the NY…
15:30
September 25, 2020
Coronavirus update UK: 6,874 new cases confirmed on Friday
There were 6,874 new confirmed coronavirus infections in the UK as of Friday morning, the UK government data showed, per Reuters. This reading marked the biggest daily jump since May and followed Thursday's increase of 6,634. Further details of the daily report revealed that there were 34 coronavirus-related fatalities on Friday. Earlier in the day, the government announced that…