Forex News

17:15
December 1, 2020
Gold Price Analysis: XAU/USD consolidates rebound above $1800 as US dollar remains under pressure
Gold is having the best day in weeks, holds onto gains around $1810. Higher US Yields limits the rally in XAU/USD. Gold is holding onto important daily gains as it hovers around $1810, up by more than $30 from Monday’s close. It is having the best day in weeks. The price of the metal jumped…
17:00
December 1, 2020
GBP/USD bursts above 1.3400 as Brexit talks enter the “tunnel”
News that Brexit talks have entered the “tunnel”, with a deal hoped by the end of the week, has pushed GBP/USD above 1.3400. Previous resistance around 1.3400 might now offer solid support, with GBP/USD likely to eye a test of year-to-date highs. GBP has shot to fresh highs since 1 September 2020 above 1.3400 in…
16:30
December 1, 2020
US Treasury Sec. Mnuchin: Small businesses cannot wait two or three months for more aid
US Treasury Secretary Mnuchin is testifying before the US Senate Committee on Banking, Housing, and Urban Affairs. Key quotes "Despite the progress on vaccines, small businesses cannot wait two or three months for more aid." "Urging Congress to make changes to Paycheck Protection Program to simplify it, allocate unused funds." "No reason to dispute the US Bureau of…
16:30
December 1, 2020
Canada: Q3 GDP headline comes as a disappointment, still way better than what was expected months ago – NFB
Data released on Tuesday showed that Canada’s real GDP rose at an annualized rate of 40.5% during the third quarter, below expectations. Analysts at the National Bank of Canada point out it is the strongest on record quarterly print followed the worst performance since data recording in Q2. Key Quotes: “We now have the full…
16:15
December 1, 2020
Breaking: UK-EU could reportedly reach a deal by end of week, GBP/USD surges above 1.3400
The GBP/USD pair surged higher after the Times Radio reported that the trade talks between the UK and the EU have entered "the mythical tunnel." Developing story…
16:15
December 1, 2020
EUR/JPY breaks above 125.00 and jumps to highest since mid-September
Euro soars versus yen boosted by the rally in EUR/USD above 1.2000. Yen drops across the board hit by risk appetite. The EUR/JPY broke a key resistance area around 125.10 and jumped to 125.79, hitting the highest level since September 14. The pair climbed more than a hundred pips during the American session so far,…
16:15
December 1, 2020
Powell speech: We do have a long way to go on recovery
Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is testifying before the US Senate Committee on Banking, Housing, and Urban Affairs. Key quotes "The US economy has performed better than expected." "We do have a long way to go on recovery." "The lion's share of or recovery should go to fiscal policy."…
16:00
December 1, 2020
USD/CAD consolidates in upper-1.2900s as loonie eyes WTI and OPEC+ developments
USD/CAD trades within a 1.2940-1.2980ish intra-day range at present, having backed off Monday highs above 1.3000. Loonie traders shrugged off weak GDP data and continue to focus on OPEC+/crude oil market developments. USD/CAD is consolidating within a 1.2940-1.2980ish intra-day range at present, after a bout of Tuesday’s Asia session USD weakness brought the pair back…
15:45
December 1, 2020
Powell speech: We may need more fiscal support
FOMC Chairman Jerome Powell reiterated on Tuesday that the Federal Reserves remains committed to using all of its tools to support the economy through the coronavirus crisis. "We will continue to provide strong support," Powell told the US Senate Banking Committee and noted that it is likely they will need more fiscal support. "Inequality is an…
15:45
December 1, 2020
US Treasury Sec. Mnuchin: Urging congress to provide another $300 billion for PPP
While testifying before the US Congress on Tuesday,  US Treasury Secretary Steven Mnuchin noted that their decision to not to extend the Federal Reserve's COVID lending facilities was not an economic decision. Mnuchin added that they are urging Congress to provide another $300 billion for the Paycheck Protection Program (PPP) and noted that restaurants need grants…