Forex News

Citing several sources with knowledge of the matter, Reuters reports the White House is tightening rules to prevent China from obtaining advanced US technology for commercial purposes and then diverting it to military use. Further details “Three measures agreed to by senior US officials in a meeting last Wednesday, but not finalized, would introduce hurdles…

EUR/USD printed a low of 1.0903 on Wednesday and remains in the red at press time.  The 4-hour chart shows a falling wedge pattern, a bullish reversal setup.  EUR/USD is trading near 1.0945 at press time, representing a 0.15% drop on the day, having registered losses in the previous three trading days.  The pair's bounce…

AUD/USD sellers catch a breath after two-day declines. Aussie NAB Business Conditions/Confidence dropped, Moody’s lowers its outlook for the Australian banking system. Coronavirus continues to take a toll on the global financial markets, S&P Futures surprise with an uptick despite drops in Asian shares, US Treasury yields. US Jobless Claims will be important, virus update…

Speaking to reporters on Thursday, Australian Prime Minister (PM) Scott Morrison said that “we are slowing the spread of the virus.” Further comments Childcare will be made free. To ensure childcare facilities will remain open. Parliament to return next Wednesday. AUD/USD consolidates losses below 0.6100, risk aversion prevails

Central banks around the world offloaded US treasuries through March, as the sudden coronavirus-led sell-off in the global markets and recession fears triggered global dash for cash, mainly US dollars.  Foreign monetary institutions liquidated more than $100 billion worth of Treasury notes in the three weeks ended March 25, according to Federal Reserve data. The…

Key findings "While Australian banks' current asset quality is very strong, it will deteriorate significantly if disruptions persist for a prolonged period and push up the unemployment rate, which will lead to more impairments of residential mortgages, which comprise approximately two thirds of banking system loans.” "We view the current economic support packages, including fiscal…

The US Treasury Department plans to hire PJT Partners Inc Moelis & Co and Perella Weinberg Partners to advise on the airline portion of Washington’s $2 trillion stimulus bill, the Wall Street Journal reported on Wednesday, Reuters News reported. Each firm is likely to advise on aid to one of three subsectors: commercial airlines, cargo carriers and…

NZD/USD has added 16 pips in Asia despite the risk-off tone in stocks.  Lingering fears of a prolonged recession could reverse gains seen in NZD. The US initial jobless claims are expected to hit another record.  While the New Zealand dollar is pushing higher against the greenback in Asia, the risks for NZD/USD remain skewed…

Gold prices fail to hold onto the previous day’s recovery gains. 200-bar SMA, 61.8% Fibonacci retracement guard immediate upside. Bearish MACD keeps sellers hopeful. While defying Wednesday’s recovery moves, Gold prices drop to $1,585, down 0.40%, amid the early Thursday’s trading session. In doing so, the yellow metal remains inside a one-week-old descending trend channel…

USD/JPY snaps two-day losing streak while bouncing off the two-week low. US dollar holds broad gains amid risk aversion. Japan’s Economy Minister signals support for production increase in the stimulus. USD/JPY fails to respect the key risk catalysts while portraying the broad US dollar strength, currently up 0.15% near 107.50, during the initial Tokyo session…