Forex News

9:16
August 14, 2020
Eurozone Prelim GDP meets estimates with -12.1% QoQ in Q2, EUR/USD stays above 1.18
Eurozone GDP (QoQ) (Q2):  -12.1% actual vs -12.1% expected. Bloc’s GDP (YoY) (Q2): -15.0% actual vs. -15.0% expected. EUR/USD sustains the bounce above 1.1800 on the data. The Eurozone economic output shrank in the second quarter, the latest figures released by Eurostat confirmed on Friday. The bloc’s GDP contracted 12.1% QoQ in Q2, matching the expectation of -12.1%…
9:16
August 14, 2020
NZD/USD: Scope for a move to the back of the broken 2014 downtrend at 0.65 – Credit Suisse
NZD/USD is the choice pair for anyone who wants to play for a USD rebound with the market now pressuring key short-term support at 0.6525/00. Whilst economists at Credit Suisse ideally look for this level to hold, the ‘wedge measured objective’ is at 0.6400. Bigger picture, weakness is still seen as corrective and the broader…
9:16
August 14, 2020
EUR/USD comes under pressure around 1.1800
EUR/USD fades the earlier spike to the vicinity of 1.1830. EMU flash Q2 GDP came in at -12.1% QoQ. US Retail Sales, Industrial Production, U-Mich next of relevance. After reaching weekly tops near 1.1870 on Thursday, EUR/USD came under some selling pressure and is now hovering around the 1.1800 neighbourhood. EUR/USD looks to data, USD…
9:16
August 14, 2020
GBP/USD: Any surprising clash in trade to boost safe-haven dollar
GBP/USD has been on the back foot due to the US dollar's strength. The UK's gradual reopening may help sterling but the pound has reasons to stay stuck in a dark alley, Yohay Elam, an analyst at FXStreet, informs. Key quotes “Casons, theaters – and bowling alleys – are among the establishments that will be…
9:00
August 14, 2020
GBP/USD: At daily highs despiste negative momentum
The GBP/USD pair is trading at daily highs above the 1.3080 mark despite Friday's 4-hour chart is showing that momentum turned to the downside. On the flip side, support is seen at the daily low of 1.3048, FXStreet’s analyst Yohay Elam briefs. Key quotes “GBP/USD has fallen over the 50 Simple Moving Average on the…
8:45
August 14, 2020
German Economy Ministry: Economy has been recovering since May
In its latest statement released on Friday, Germany’s Economy Ministry sounded upbeat on the economic recovery. Key headlines "There will be strong GDP growth in Q3." "The economy has been recovering since May." "But the recovery process will take a long time." "Further economic upswing depends largely on how the pandemic develops." "Industrial sector is seeing…
8:45
August 14, 2020
USD/CAD recovers further from multi-month lows, climbs back closer to mid-1.3200s
A combination of factors assisted USD/CAD to reverse an early dip to the 1.3200 neighbourhood. A modest pullback in oil prices undermined the loonie and prompted some short-covering move. A turnaround in the risk sentiment drove haven flows towards the USD and remained supportive. The USD/CAD pair rallied around 35-40 pips from the early European…