Forex News

17:45
November 24, 2020
USD/TRY bursts back above 8.00, as higher oil prices and ongoing diplomatic tensions weigh on lira
Having flirted with the 8.00 level earlier during Tuesday’s European morning, USD/TRY has convincingly broken this level to the upside in recent trade. Higher oil prices, weak manufacturing data and ongoing diplomatic disputes with the EU are all weighing on sentiment. The Turkish Lira has been on the defensive for a second day, with USD/TRY…
17:45
November 24, 2020
Fed’s Bullard: No need to change bond purchases right now
"The data has not been as strong as it was but so far we are holding up," St. Louis Federal Reserve President James Bullard said on Tuesday, as reported by Reuters. Additional takeaways "I think we will get above-trend growth in Q4 and into next year." "US recession will largely be dated to the March-April period."…
17:30
November 24, 2020
Fed’s Williams: Uncertainty around economy not nearly as extreme as in spring
The uncertainty around the pandemic and the economy are not nearly as extreme as they were in spring, New York Federal Reserve President John Williams said on Tuesday, as reported by Reuters. Additional takeaways "Right now financial conditions are quite favorable." "Given continued uncertainty about the pandemic and concerns for stress to rise again, asset…
17:15
November 24, 2020
Fed’s Williams: Accommodative monetary policy helping economy weather the storm
The Federal Reserve has taken an approach that will adjust naturally if the economy does better than expected, New York Federal Reserve President John Williams told the Wall Streer Journal on Tuesday, per Reuters. Additional takeaways "Accommodative monetary policy is helping the economy weather the storm." "Policy will help the economy return to full employment as…
17:15
November 24, 2020
USD/MXN drops back to 20.00 as the Dow Jones rises above 30,000
US stocks rise sharply, Dow Jones at record highs above 30,000. The Mexican peso is the top performer among emerging market currencies. The USD/MXN is falling on Tuesday after a short-lived rebound on Monday. It is about to test the 20.00 area again. On Monday it bottomed at 19.97, the lowest level since March before…
17:15
November 24, 2020
AUD/USD advances beyond 0.7350 as USD struggles to preserve its strength
AUD/USD remains on track to close with strong gains. US Dollar Index edges lower on Wall Street rally. RBA's Debelle says he is not convinced negative rates would work. The AUD/USD pair climbed to its highest level since early September at 0.7368 but lost its traction ahead of the American session. After edging lower toward…
17:00
November 24, 2020
US: Consumer confidence waned in November – Wells Fargo
With virus case counts on the rise, consumer confidence waned in November with particular vulnerability in how people feel about the future, explained analysts at Wells Fargo. They point out a steady drumbeat of positive COVID-19 vaccine news may help in the coming months. Key Quotes:  “Consumer confidence slipped to 96.1 in November from an…
16:45
November 24, 2020
Silver slides further as precious metals dumped amid vaccine hopes, strong US data
Silver prices have seen further downside on Tuesday, as markets continue to dump havens in favour of risk. Vaccine optimism and strong US data are the two main factors that have weighed on precious metal demand. XAG/USD has for now kept its head above $23.00. Spot silver (XAG/USD) has lost further ground on Tuesday, with…
16:30
November 24, 2020
Gold Price Analysis: XAU/USD at four months lows, testing $1800
Gold finds support, for now, at the $1800. US dollar remains under pressure amid risk appetite. XAU/USD is falling for the second day in a row extending the correction from record-high levels. Recently bottomed at $1,800/oz, the lowest level since mid-July. The area around $1,800 capped the downside for now, as the bearish pressure is…
15:45
November 24, 2020
NZD/USD slips back from over two year highs above 0.7000, remains supported above 0.6950 for now
Earlier on Tuesday, NZD/USD briefly went above 0.7000 for the first time since mid-2018, with sentiment boosted by news regarding the RBNZ. However, amid a broad pick up in USD, the pair has slipped back, but remains supported above the 0.6950 mark. Amid a broad pick up in USD, NZD/USD has pulled back from Monday…