Forex: all news & analysis

Explore our comprehensive Forex Archive, an essential resource that provides expert insights on price movements, trends, and the currency market. By analysing past price actions and key events, you can uncover vital market dynamics and elevate your understanding of effective trading strategies. Whether you're focusing on major currency pairs or emerging markets, our archive is packed with information to help you sharpen your trading decisions.

Stocks supported on Debt Deal optimism, strong dollar weighs on commodities and cryptos

US stocks are rising as the biggest risk on Wall Street’s table appears to be going away. Speaker McCarthy said that the House could vote on the debt ceiling deal as soon as next week.

18-05-2023 13:34 GMT by Edward Moya

Oil and gold both take a tumble

Oil Crude prices are sliding as the dollar rallies on bets that the Fed might not be tightening. Good news for the economy is now bad news for the crude demand outlook as economic resilience will force the Fed to kill the economy. Oil is becoming an easy trade, as it will track the dollar and not so much anything else.

18-05-2023 13:28 GMT by Edward Moya

USD/JPY - Yen sinks to 6.5 month low, is 140 next?

USD/JPY punches to its highest level since November 2022 Japan eyes Core CPI The Japanese yen's woes continue, as the currency has plunged a massive 400 points over the past week. In Thursday's North American session, the yen is trading at 138.52, up 0.60% on the day.

18-05-2023 12:01 GMT by Kenneth Fisher

Traders unmoved by BoE comments, US outlook a concern despite better data

MPC grilled as the central bank continues to fight double-digit inflation We heard from some Bank of England policymakers earlier as they were grilled by the Treasury Select Committee on quantitative tightening, among other things naturally. Bailey and colleagues were quite consistent in their messaging and it's probably what the Governor said on Wednesday that raised a few eyebrows as he insinuated that the UK could be seeing a wage-price spiral which could complicate returning inflation to 2%

18-05-2023 11:50 GMT by Craig Erlam

Video - GBP/USD steady despite Bank of England warning

OANDA Senior Market Analyst Craig Erlam discusses the moves in sterling in light of BoE Governor Andrew Bailey's comments.

18-05-2023 11:08 GMT by Craig Erlam

GBP/USD slips as US debt ceiling crisis eases

BoE Governor Bailey warns of wage-price spiral, testifies before Treasury Committee Markets lower odds of a Fed pause in June BoE Bailey says UK in wage-price spiral On Wednesday, Bailey had a hawkish message for the markets, saying that he would tighten policy if there was evidence that inflation pressures remained persistent. Bailey warned that the UK was in the midst of a wage-price spiral.

18-05-2023 10:34 GMT by Kenneth Fisher

AUD/USD under pressure after soft Aussie employment

Australia's employment change declines Markets lower expectations of a Fed pause in June The Australian dollar has resumed its downswing on Thursday after taking a pause a day earlier. AUD/USD is trading at 0.6641 in Europe, down 0.26% on the day. Australian employment slips Australia's April employment report surprised to the downside today, sending the Australian dollar lower.

18-05-2023 06:33 GMT by Kenneth Fisher

Podcast - Debt ceiling, gold correction, BoE inflation concerns

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the market stories of the day including the US debt ceiling, gold, and BoE Governor Bailey's comments about a potential wage-price spiral.

17-05-2023 12:48 GMT by Craig Erlam

British pound drifts lower, markets eye Bailey testimony

BoE Governor Bailey to testify before Treasury Committee on Thursday Fed says remains open to rate hikes JP Morgan expects Fed to cut rates Will monetary hearings shake up British pound? The Bank of England will be in the spotlight on Thursday, as Governor Bailey testifies before the Treasury Committee. Lawmakers will likely pepper the Governor with questions about red-hot inflation, which remains in double-digits despite the BoE's aggressive tightening.

17-05-2023 11:56 GMT by Kenneth Fisher

USD/JPY - Japan's GDP improves but yen slips

USD/JPY climbs above 137 Japan's GDP surprises to the upside JP Morgan expects Fed to trim rates The Japanese yen is on a four-day losing streak and is in negative territory on Wednesday. In the North American session, the yen is trading at 137.39, up 0.74% on the day. Japan's GDP beats estimate Japan's GDP in the first quarter was higher than expected.

17-05-2023 10:12 GMT by Kenneth Fisher

Australian dollar calm after wage growth accelerates

Australia wage growth accelerates in Q1 JP Morgan expects Fed to trim rates The Australian dollar is steady on Wednesday. AUD/USD is trading at 0.6650 in Europe, down 0.06% on the day. Australian wage growth rises Australia's wage price index jumped in the first quarter.

17-05-2023 06:07 GMT by Kenneth Fisher

USD/JPY continues rally ahead of Japanese GDP

USD/JPY continues to rally Japan releases GDP on Wednesday Fed members warn that more rate hikes on the table USD/JPY continues to rally and is up for a fourth straight day and has gained an impressive 230 points during that time. USD/JPY is up 0.37% on the day, trading at 136.62. Japan releases GDP for second-quarter growth early on Wednesday.

16-05-2023 12:04 GMT by Kenneth Fisher

GBP/USD calm after mixed UK jobs report, US retail sales

UK wage growth, unemployment claims accelerate Fed members warn higher rates still on the table After three straight days of sharp movement, the pound has settled down on Tuesday and is slightly lower, trading at 1.2496. UK wages accelerate, unemployment rises Is the UK labour market showing signs of strain? Today's employment numbers are pointing in that direction.

16-05-2023 11:18 GMT by Kenneth Fisher

Podcast - Decent UK jobs data, China's unbalanced recovery, Turkish election

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart to discuss the latest data from the UK and China and react to the Turkish election.

16-05-2023 09:29 GMT by Craig Erlam

Aussie shrugs off RBA minutes, weak consumer confidence

RBA minutes state further rate hikes possible Australian consumer confidence sinks Australian wage growth to be released on Wednesday The Australian dollar has taken investors on a wild ride over the past few days but has settled down on Tuesday. AUD/USD is trading at 0.6687 in Europe, down 0.13% on the day. RBA minutes indicate more rate hikes possible The RBA released the minutes of its meeting earlier this month.

16-05-2023 06:04 GMT by Kenneth Fisher

AUD/JPY Technical: Potential push up within a major range

Two conflicting fundamental factors are driving the short-term movement of the Aussie dollar. RBA’s hawkish rhetoric has provided a potential floor but a weak external environment due to China prevents bulls from taking an aggressive stance. AUD/JPY key short-term support stands at 90.30 with major range resistance coming in at 92.10/92.80. The Aussie dollar seems to be trapped by two conflicting fundamental factors in the short to medium-term horizon. Firstly, the positive factor that suppor

16-05-2023 01:21 GMT by Kelvin Wong

GBP/USD ends slide, employment report next

Empire State Manufacturing Index plummets Markets await UK employment, US retail sales on Tuesday British pound rebounds after sharp slide GDP/USD has started the week in positive territory, after a two-day slide that saw the pound lose 1.5%. In the North American session, GBP/USD is trading at 1.2514, up 0.54%. On the economic calendar, it's a fairly quiet start to the week.

15-05-2023 11:23 GMT by Kenneth Fisher

Oil rebounds on weaker dollar, Gold wavers, Bitcoin off two-month lows

Oil falls $10 since beginning of the year Gold steadies after three-day drop Crypto ETFs see $163 million in net outflows in the past month Oil Crude prices pared gains after a disappointing Empire State manufacturing report showed the Fed’s aggressive rate hiking campaign is starting to really knock down the economy. Turkey’s Ceyhan port has yet to resume flows with Baghdad, and government approval might take longer given the lack of clarity with the presidential election. The dollar rally h

15-05-2023 11:21 GMT by Edward Moya

Stocks boosted on premature debt ceiling deal hope

Empire Survey: 49% report that conditions worsened Fed's Kashkari "We at the Federal Reserve probably have more work to do on our end to try to bring inflation back down" President Erdogan will face Kemal Kilicdaroglu in a run-off ballot on May 28 US stocks are stuck in wait-and-see mode until we get the next debt ceiling talk update. Over the weekend, President Biden provided optimism that a deal could be reached, but no meaningful concessions have been made from either side. Until we have Re

15-05-2023 09:43 GMT by Edward Moya

Australian dollar stems bleeding, RBA minutes eyed

Australia to release RBA minutes and consumer sentiment US debt crisis pushes US yields and the US dollar higher AUD/USD has rebounded on Monday, after a steep slide of 2% over the previous two sessions. The Australian dollar is trading at 0.6689, up 0.71% on the day. Markets await RBA minutes RBA minutes are often on the dull side, but Tuesday's release could be an exception.

15-05-2023 08:15 GMT by Kenneth Fisher

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