Forex News

Competing narratives of labor-market momentum and deteriorating growth have left the Fed in “wait and see” mode. With inflation and oil risk complicating the picture, can the Fed stay on the sidelines until the labor-versus-growth debate resolves?

PMI day is upon us, perhaps the most brilliantly orchestrated non-event in financial markets. S&P Global has essentially taken a sentiment survey and managed to plonk it right in the middle of what has traditionally been one of the quieter periods of the month for scheduled economic data. The result? It receives far more attention than it probably deserves. ...

Japan's manufacturing sector sustained robust growth in June, with new orders surging to their fastest pace in more than four years, though cost pressures continued to intensify due to the repercussions from the Iran war, a survey showed on Tuesday. The S&P Global flash Japan Manufacturing Purchasing Managers' Index (PMI) edged up to 54.9 in June from 54.5 ...

Japan FinMin Katayama held virtual talks with US Treasury Secretary Bessent on Monday Japan Finance Minister Katayama: Reaffirms market coordination with Bessent Japan's Finance Minister Katayama said there has been no change to the existing agreement between Japan and the US regarding decisive policy actions. Japan’s finance chief said talks with Bessent reinforced cooperation on monitoring and coordinating financial markets.

The latest Flash PMI® data, compiled by S&P Global, pointed to the strongest rise in total business activity across Japan's private sector for three months in June. This was supported by a quicker increase in manufacturing output and a renewed upturn in services activity, with both sectors reporting firmer demand conditions. Greater amounts of backlogged ...

Among the beauty pageant of 1960s Ferrari road cars, arguably the most dazzling is the 275 GTB/4 coupe. Masterfully designed by Pininfarina and hand-built by Scaglietti, this exquisitely proportioned berlinetta combines jaw-dropping style with towering V-12 power and performance. It’s no wonder that the so-called “four cam” attracted the attention of ...

Canada's inflation rate accelerated above the Bank of Canada's target band in May, yet markets remain convinced policymakers will leave rates unchanged. With bearish CAD positioning becoming increasingly crowded and several Canadian dollar crosses flashing signs of exhaustion, traders may be asking whether a near-term rebound in the loonie is overdue. Here ...

Flash PMI® data from S&P Global signalled a near-stabilisation of business activity in Australia during June, following a slight reduction in the previous month. New orders continued to fall, however, amid market uncertainty. Meanwhile, business confidence dropped to the lowest since the COVID-19 pandemic. Inflationary pressures remained relatively ...

Interactive Brokers has expanded its artificial intelligence offering by integrating ChatGPT and Grok into its trading platform, while also adding support for options and futures. The move extends the broker’s push into AI-driven tools and follows its earlier integration with Anthropic’s Claude. The company said on Monday that clients can now connect their ...

European Central ⁠Bank President Christine Lagarde ⁠on Monday urged global leaders to discuss undervaluation of the Chinese currency as a facet of the imbalances endangering the global economy. China has consistently denied that it manipulates its currency for trade advantage but its surging trade surpluses are one of several macroeconomic mismatches ...

Fifty-four people were injured and 18 are missing after an explosion at Qatar’s massive Ras Laffan liquefied natural gas (LNG) complex, which occurred as workers were restarting operations halted after an Iranian attack in March. Authorities said a ‘technical accident’ occurred at the Barzan local gas supply facility on Sunday evening and that there was no ...

fed's goolsbee defends his dissent, says inflation remains well above target and moving in the wrong direction; adds the labor market is stable, services inflation is concerning, and more evidence is needed that price pressures are temporary.

The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. But in his first press conference last Wednesday, new chair Kevin Warsh began to reverse some of those steps. ...

Oil prices remain volatile as the US-Iran peace MOU shifts the market narrative from fears of supply shortages to oversupply risks. However, renewed uncertainty around the Strait of Hormuz keeps the geopolitical risk premium alive. Oil prices have entered a more complicated phase as the market tries to balance two opposing forces. On one hand, the US-Iran ...

TRUMP: LARGE VOLUMES OF OIL CONTINUE TO FLOW THROUGH THE STRAIT OF HORMUZ. Trump on the Economy: We have the opposite of a depression, oil prices are way down Trump: We have total control of the Strait. TRUMP: AS LONG AS IRAN SHOWS RESPECT TOWARD THE U.S., THERE WILL BE NO PROBLEMS BETWEEN THE TWO COUNTRIES.

Alan Greenspan, the influential central banker who spent nearly 20 years as chair of the Federal Reserve, died Monday at the age of 100. Greenspan leaves behind a complex legacy, one of the most enduring parts of which was his shift toward protecting financial markets. Greenspan exhibited a deft touch with financial markets, saying the barest minimum in his ...

This note was delayed by marketing demands but I think it’s worth advancing a thesis I don’t see well covered. We now have three reports that provide convincing evidence that a temporary soft patch on underlying inflation is being left behind. Core inflation measures picked up in May and their three-month moving averages are restoring above-2% momentum in ...

Thailand’s Department of Special Investigation launched a major enforcement action against an alleged forex fraud network, raiding 24 locations across Bangkok and neighboring provinces and seizing assets worth hundreds of millions of baht. The operation targeted brokers, introducing brokers, payment processors, and individuals accused of operating ...

*VANCE ON IRAN: FEEL GREAT ABOUT PROGRESS WE'VE MADE *VANCE: SET UP MECHANISM TO MAKE SURE HORMUZ STAYS OPEN US VP Vance: Saw about 15m bbl of oil come out of Hormuz. Iranians allowing inspectors in for first time in while - Vance

The US has authorized the sale of Iranian oil and fuels as part of an agreement to end the war against Tehran, a sweeping change after years of punitive economic sanctions. The US Treasury Department issued a wide-ranging 60-day license that allows Iran to sell its energy products through Aug. 21. The license, which allows payments to be made in US dollars, ...

Everybody is fully aware that Iran will agree to have Major Weapons Inspections in order to ensure “Nuclear Honesty” long into the future. President DONALD J. TRUMP

So many things about the Euro drive me nuts. There’s the fact that the ECB has been completely co-opted by high-debt countries - capping their government bond yields when the going gets tough like in the summer of 2022 - but then senior ECB officials have the nerve to give speeches on how it’s important to hold the line against fiscal dominance and moral ...

ECB President Lagarde: Renminbi’s undervaluation warrants talks on excessive imbalances at G7

VP VANCE'S CLAIM ABOUT RETURN OF IAEA INSPECTORS TO IRAN IS FALSE, FARS REPORTS CITING A SOURCE THERE WAS NO TALK ABOUT PRESENCE OF INSPECTORS IN IRAN DURING SWISS NEGOTATIONS

When currencies are printed without limit, the role of gold becomes simple: Protect purchasing power. The challenge is that most investors do not fully grasp what that means. A simple illustration helps. Imagine a closed system with 100 individuals and 100 apples. Each person also holds one gold coin and one dollar, each of which has the same value: Each ...

#OOTT | Iran's Foreign Ministry Spokesperson: Tehran Did Not Negotiate The Nuclear Issue And Did Not Accept Any New Commitments In Sunday's Talks In Switzerland #Iran 's Foreign Ministry Spox: Interactions with the @iaeaorg will continue per current procedures, in accordance with Iran's obligations under the Safeguards Agreements, and strictly in line with Parliament laws & Supreme National Security Council (SNSC) decisions. pic.twitter.com/UFi19xbgqS

Canada's consumer prices rose 1.0% in May, lifting the headline inflation rate four ticks to 3.2%, above expectations and the highest since late 2023. A variety of food prices and travel-related costs added to the predictable jump in pump prices to drive this monthly rise, as ex-gasoline inflation picked up two ticks to 2.2%. But that's pretty much where ...

More Yen intervention currently underway, though it does not appear to be making much of a dent. Still holding well above 161 pic.twitter.com/DElRKlcbRV Yen Depreciation Returns to Two-Year Level: Finance Minister Katayama and US Treasury Secretary Bessent Held an Emergency Online Meeting. JAPAN-US FINANCE MINISTERS EXPECTED TO MEET - KYODO

UK PM Starmer announced his resignation, clearing the way for Andy Burnham, but UK markets are taking the political turmoil in stride, with the pound topping relative strength charts to start the US session. FOREX.com's Global Head of Research Matt Weller breaks down the key news you need to know ahead of the US Open, as well as taking a look at today’s ...

Suspected Yen Intervention USD/JPY makes a quick move lower. Eyes on intervention USD/JPY make a quick move lower after touching a session high. The pair briefly traded above 161.90 only to plunge promptly to 161.20. The dip has been bought though, with the pair back up to 161.65. Japanese officials have repeatedly warned that they're watching markets closely. On Friday, USD/JPY posted its highest weekly close in 40 years and the end of the Iran war doesn't appear to be helping. With today's earlier move higher, the June high of 161.80 broke but the July 2024 intraday high of 161.99 is still intact, albeit barely. These are going to be dicey times in yen trading as the Ministry of Finance is put to the test.