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Investors Seek Safe Havens Amid Middle East Unrest – Action Forex
Today, the Bank of Canada announced its October monetary policy decision. The expectation was for a 50 basis point rate cut to 3.75%, but there was a possibility of a smaller cut. The actual...
PBOC Expected to Set USD/CNY Reference Rate at 7.1262 – Reuters Estimate
The People's Bank of China is expected to set the USD/CNY reference rate at 7.1262 according to a Reuters estimate. This reference rate, due around 0115 GMT, plays a crucial role in determining the...
Eco Data Analysis: Key Insights for Forex Traders 10/23/24
The latest Eco Data Analysis provides key insights for Forex traders to consider. Here is a breakdown of the recent economic events:1. CAD BoC Interest Rate Decision:
- Actual: 3.75%
- Forecast: 4.25%
The Bank of Canada...
ECB’s Rehn Warns of Weakened Growth Outlook and Rising Deflationary Pressure
The European Central Bank (ECB) has issued a warning regarding the weakened growth outlook and rising deflationary pressure in the economy. This caution comes from Olli Rehn, a member of the ECB's Governing Council.Rehn...
ECB President Lagarde Confident Inflation Will Reach 2% by 2025
At a recent Bloomberg Newsmaker event, European Central Bank President Christine Lagarde shared her optimism about inflation reaching 2% by 2025. Lagarde confidently stated that she believes inflation will sustainably return to the target...
European FX Market Update: Volatile Trading Due to Lack of Catalysts | Forexlive
The European FX market saw a bit of a slow start today, with stocks edging lower in the morning trade. Major currencies didn't show much movement either. Bonds were in focus as there wasn't...
Bears Eye Break Below Daily Cloud Base in Cable Consolidation – Action Forex
Cable, which refers to the British Pound against the US Dollar, is currently in a consolidation phase around the key support level of 1.30. This consolidation comes after a recent drop, giving the bears...
Euro Stoxx Futures Rise Slightly in Early European Trading
Euro Stoxx futures saw a slight increase in early European trading, indicating a positive start for the day. However, it is important to note that foreign exchange trading comes with high risks that may...
US Election Risks Leave Aussie Unsettled – Forex Market Analysis
AUD/USD is starting the week on shaky ground, trading at its lowest levels in over five weeks in the mid-0.66s. This week's economic calendar is relatively light on both local and international fronts. However,...
USD/JPY Rises Above 150: Verbal Intervention Threat
Mizuho mentioned in their weekly outlook that there is a threat of verbal intervention as USD/JPY rises above 150. This is definitely something to pay attention to today, especially since USD/JPY has increased by...