Forex News

16:00
August 14, 2020
AUD/USD climbs to daily highs near 0.7170, turns flat for the week
AUD/USD continues to push higher in American session. US Dollar Index stays in the negative territory after US data releases. AUD/USD remains on track to finish the week little changed. The renewed selling pressure surrounding the greenback helped the AUD/USD pair edge higher in the American session on Friday. As of writing, the pair was…
16:00
August 14, 2020
US Industrial Production: Consumer goods recovery well underway – Wells Fargo
Data released on Friday showed that Industrial Production rose 3% in July, in line with market expectations. The manufacturing sector has seen a relatively strong recovery this cycle, underpinned by consumers shifting spending toward goods, explained Wells Fargo’s economists. They see that business goods have been slower to recover. Key Quotes:  “The manufacturing sector’s recovery…
15:45
August 14, 2020
USD/CAD rises to the 1.3270 area amid a weaker Canadian dollar
USD/CAD hits a fresh daily high at 1.3271 but still heads for a weekly loss. Canadian dollar among weakest currencies on Friday corrects lower after days of gains. The USD/CAD rose to 1.3271 during the American session, reaching a fresh two-day high and then pulled back, holding above 1.3240. Despite rising on Friday, the pair…
15:30
August 14, 2020
NY Fed’s GDP Nowcast for Q3 rises to 14.8% after this week’s data releases
The US economy is expected to expand by 14.8% in the third quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday.  Key takeaways "News from this week’s data releases increased the nowcast for 2020:Q3 by 0.2 percentage point." "Positive surprises from industrial production, capacity utilization, and prices data were…
15:15
August 14, 2020
Coronavirus update UK: 1,441 daily confirmed cases of COVID-19, 11 deaths
There were 1,441 new confirmed coronavirus infections in the UK as of Friday morning, the British Health Ministry announced on Friday. This figures marked the highest daily increase since June 14th. Furthermore, the report showed that there were 11 coronavirus-related fatalities. Earlier in the day, the UK government said that they were seeing early indications that…
15:00
August 14, 2020
Fed’s Kaplan: More PPP-style lending to small businesses needed
More PPP-style (Paycheck Protection Program) lending to small businesses is probably needed, Dallas Federal Reserve Bank President Robert Kaplan said on Friday. "Restructuring programs like the Main Street Lending to allow easier terms is a decision for the US Treasury and Congress, not the Federal Reserve," Kaplan added. Regarding the inflation outlook, Kaplan noted that he wouldn't mind seeing inflation…
15:00
August 14, 2020
Canada: Recovery likely continued into July, but pace to slow – RBC
Canadian manufacturing sales jumped a record 20.7% in June. Nathan Janzen, Senior Economist at RBC Economics, points out the recent significant gains in manufacturing sales and other economic indicators, has been a bounce-back from unprecedented declines. They that beyond this initial bounce, the pace of recovery will likely moderate. Key Quotes:  “The nearly 21% jump…
15:00
August 14, 2020
Coronavirus update US: Florida cases rise by 6,148 to 563,285
Florida's Department of Health announced on Friday that the number of confirmed coronavirus cases in the state increased by 6,148 to a total of 563,285, as reported by Reuters. Further details of the daily publication revealed that COVID-19-related deaths rose by 230 to 9,276 and the hospitalizations declined by 375 to 5,962. Market reaction Investors largely ignored these…
14:45
August 14, 2020
US Retail Sales: Details offer the latest evidence of the V-shape recovery in consumer goods spending – Wells Fargo
In July, retail sales in the US rose 1.2%, below expectations. Analysts at Wells Fargo, point out that despite a headline miss, underlying details in were better than expected and prior data was revised higher. They consider services spending may remain under pressure, but see that retail sales activity has fully recovered. Key Quotes:  “Retail…
14:30
August 14, 2020
Fed’s Kaplan: US GDP is likely to decline by 4.5% in 2021
The US consumers are still spending but they are shifting from high-contact industries to other forms of consumption, Dallas Federal Reserve Bank President Robert Kaplan said on Friday. Additional takeaways "Seeing US GDP down 4.5% for 2021, unemployment rate falling to between 8% to 9%." "Expiration of unemployment benefits makes this time of great hardship and stress for lower-income…