Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
France HCOB Services PMI registered at 51.4 above expectations (48.5) in September
France HCOB Services PMI registered at 51.4 above expectations (48.5) in September
France HCOB Composite PMI came in at 51.2, above expectations (0) in September
France HCOB Composite PMI came in at 51.2, above expectations (0) in September
USD/CAD Price Forecast: Eyes 1.4100 as bulls retain control near July 29 highs
The USD/CAD pair prolongs its weekly uptrend for the third straight day, hitting a fresh high since July 29 during the early part of the European session on Wednesday. Bulls now await a move beyond the 1.4100 round figure before positioning for further gains amid a supportive fundamental backdrop.
Euro nudges up against British Pound with Eurozone and UK PMIs in focus
The Euro (EUR) edges up against the British Pound (GBP) for the second consecutive day on Wednesday, although it remains halfway within recent ranges, with trading volumes at low levels, and investors awaiting Purchasing Managers Index (PMI) data from the UK and the Eurozone.
Brent: Price slide extends on pipeline restart – Danske Bank
Danske Research Team notes Brent crude trading near USD 98/bbl after six straight sessions of declines, with Oil acting as the dominant intraday driver for broader markets.
New Zealand Dollar declines to near 0.5700 on hawkish Fed remarks ahead US PMI data
The NZD/USD pair declines to around 0.5710 during the early European trading hours on Wednesday. Hawkish rhetoric from US Federal Reserve (Fed) officials regarding sticky US inflation provides some support to the US Dollar (USD) against the New Zealand Dollar (NZD).
British Pound: Testing support near 1.3300 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight tentative downside momentum in GBP/USD after the pair slipped to 1.3322 and closed at 1.3342. They see scope for a dip toward 1.3315, while judging 1.3300 as major support and potentially hard to break.
Japanese Yen weakens further against US Dollar as hawkish Fed bets dominate
The Japanese Yen (JPY) continues to underperform against the US Dollar (USD), with the USD/JPY pair trading 0.2% higher to near 157.70 during the European session on Wednesday. The pair trades higher due to continued outperformance by the US Dollar.
Forex Today: US Dollar continues to gather strength ahead of PMI data
Here is what you need to know on Wednesday, September 23:
Euro: De-escalation risk weighs on EUR against US Dollar – Commerzbank
Commerzbank’s Thu Lan Nguyen discusses EUR/USD in light of rising hopes for de-escalation in the Middle East. She notes the US Dollar (USD) has gained as rate expectations shifted in favor of the United States, with Euro Area inflation seen more energy-sensitive.
Silver Price Forecasts: XAG/USD holds within range with bulls capped below $68.00 area
Silver (XAG/USD) has been capped just below the top of the last three weeks' trading range, at the $68.00 area on Wednesday, and pulled back to session lows below $66.50 during the Asian session.
British Pound weakens to near 1.3300 as UK fiscal deficit exceeds market expectations
The GBP/USD pair attracts some sellers to around 1.3310 during the early European trading hours on Wednesday. The British Pound (GBP) weakens against the US dollar (USD) as the UK’s fiscal outlook has worsened, piling pressure on UK Chancellor John Healey ahead of the first budget.Â
United States Dollar Index gains support amid hawkish Fed policy stance
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the third consecutive day and trading around 100.70 during Asian hours on Wednesday.