Forex news is an integral part of the trading process, and our goal is to provide you with the Forex trading news you need to be successful. Our daily Forex news is written by industry veterans with years of trading and reporting experience, so that you can get the information you need without the fluff. Read our Forex news now!
Daily Forex News
The US Dollar remained close to a 3-week peak in European trading after yesterday’s release of unexpectedly upbeat retail sales data helped to lift risk appetite.
Strong U.S. retail data released on Tuesday did little to move the dollar, as traders seemed to take a step back as they wait for additional data which is expected later on Wednesday.
The US Dollar was broadly higher, especially against safe haven currencies such as the Swiss Franc and the Japanese Yen, as tensions involving North Korea seem to be evaporating.
Asian shares extended Monday’s gains in early Tuesday trade after North Korea’s leader Kim Jong Un hinted that he would push off plans to fire a missile near Guam.
The Pound Sterling edged lower versus the US Dollar and strayed near to the $1.30 price, a level that it has seemingly been anchored to, as a result of the Brexit talks.
Asian shares snapped their losing streak on Monday, despite weak data out of China which showed economic growth that was below forecast in multiple sectors.
This week will have a heavier news agenda than last week. The agenda will be dominated by only a few items of high-impact U.S. data centered on the mid-point of this week.
The US Dollar Index was higher after FX traders consolidated their positions with currencies that are low yielding, albeit safe havens, like the Japanese Yen and Swiss Franc.
The Swiss Franc is currently lower against the US Dollar but managed to hold onto the majority of gains made yesterday in the aftermath of elevated political tension between North Korea and the United States.
Though higher, the Pound Sterling still remains not far from a 2½-week trough versus the US Dollar, with the slide a factor of last week’s Bank of England vote to maintain interest rates at the current low level.
The Japanese Yen saw broad gains in the wake of the rhetoric bandied about by the leaders of the US and North Korea.
The outlook for the UK’s economy has soured for investors and, as a result, the Pound Sterling has been under some pressure and recently recorded the largest 4-day fall in nearly two months versus the US Dollar.
The US Dollar Index is struggling in Asian trade as investors ponder the outcome of looming inflation reports.
The British Pound is regaining previous losses against the US Dollar and rebounding off the recently struck 11-day trough.
The US Dollar edged higher against the Japanese Yen in early Asian trading after Friday’s unexpectedly upbeat labor report.