Forex News

4:00
July 9, 2020
Canadian Govt Official: Foreign ministers of Five Eyes group nations discussed HK on call
A Canadian government official told Reuters this Thursday, foreign ministers from the Five Eyes intelligence-sharing group discussed the situation in Hong Kong (HK) during a conference call on Wednesday.  The Five Eyes group comprises Canada, the US, Britain, Australia and New Zealand. Canada’s Foreign Minister Francois-Philippe Champagne tweeted on Wednesday, he discussed with his counterparts…
3:45
July 9, 2020
AUD/JPY Price Analysis: 13-day-old rising channel keeps buyers hopeful
AUD/JPY recedes from 75.00 after mixed China data, measures to tame the virus outbreak. A short-term ascending trend line, trading beyond 200-bar SMA favor the bulls. Multiple upside barriers stand tall to challenge the optimists past-75.00. AUD/JPY drops to 74.83, down 0.06% on a day, during the early Thursday. Even so, the pair stays inside…
3:30
July 9, 2020
Fed creates monster debt problem
The US corporate bond yields, as represented by Bloomberg Barclays Average Corporate Bond Yield Index, have declined to a record low of 2.03% despite debt levels as a percentage of gross domestic product soaring to record highs.  This is because the Federal Reserve is buying individual corporate bonds in addition to exchange-traded funds as part…
3:15
July 9, 2020
EUR/JPY Price Analysis: Shared currency invalidates 2.5-year descending trendline
EUR/JPY breaches trendline falling from January 2018 highs.  A breakout, if confirmed on weekly closing basis, would expose highs seen in May.  EUR/JPY is trading at 121.77 at press time, representing a 0.20% gain on the day and a 0.71% rise on a week-to-date basis.  The weekly chart shows the pair has breached the trendline…
3:15
July 9, 2020
Australian PM Morrison: Suspending extradition treaty with Hong Kong
Announcing measures to assist the Hong Kong (HK) residents on Thursday, Australia’s Prime Minister (PM) Scott Morrison said that they will suspend the extradition treaty with HK. Additional quotes “Concerned at imposition of national security law on Hong Kong.” “Immigration program offers opportunities to Hong Kong citizens.” “Will be extending visas by five years from…
3:15
July 9, 2020
Investors should respect the market – China Press
The Chinese state media advised the investors to respect the market and act rationally, in light of recent China’s rhetoric-fuelled stock market rally, per Reuters. Key takeaways “Experience suggested that economic fundamentals were always the basis for changes in valuation, and only a long-term bull market could yield sustained profits.” “The tragic lesson of abnormal stock…
3:00
July 9, 2020
Gold Price Analysis: XAU/USD sidelined in Asia, eyes fourth-straight weekly gain
Gold bulls are taking a breather, having pushed prices to nine-year highs on Wednesday.  Weekly gain looks likely on coronavirus concerns and US-China tensions. A key technical indicator is reporting overbought conditions for first since February.  Gold is lacking a clear directional bias on Thursday with prices stuck in a trading range of $1,804 to…
2:45
July 9, 2020
Australian PM Morrison to shortly announce measures to assist Hong Kong residents – Reuters
Citing government sources, Reuters reports that the Australian Prime Minister (PM) Scot Morrison will shortly announce measures to assist the Hong Kong residents. Australia held a teleconference with five-eyes security partners overnight, the sources said. Earlier today, the Sydney Morning Herald reported that “Australia is set to offer Tiananmen-style visas to Hong Kong residents currently…
2:30
July 9, 2020
USD/CNH Price Analysis: Refreshes four-month low on mixed China CPI/PPI
USD/CNH remains pressured near the lowest since March 12. China’s CPI recovers in June but PPI remains stuck into the deflationary area. Sustained trading below a two-month-old support line keeps the bears hopeful. 61.8% Fibonacci retracement can offer a pullback amid oversold RSI. USD/CNH remains depressed around 6.9930 following the drop to intraday low of…
2:30
July 9, 2020
EUR/USD: Risks skewed to the upside – Scotiabank
In the view of the analysts at Scotiabank, they might have to make an upward revision to their EUR/USD 2020 price forecasts on improving Euro area fundamentals. Key quotes “Clearly at this point, European Union countries have made more progress than … the US.” “US economic trends are lagging noticeably.” “Forecast for the euro may change…