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  1. Treasuries showed a notable move to the upside during trading on Friday after closing nearly flat for two straight days.

    Bond prices moved higher in morning trading and remained firmly positive throughout the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.4 basis points to 2.232 percent.

    The decrease extended a recent downward trend by the ten-year yield, which fell to its lowest closing level in over three weeks.

    Treasuries benefited from continued weakness in the value of the U.S., which fell to a nearly two-year low against the euro.

    Political concerns contributed to the dollar's slide this week as well as the interpretation of comments from European Central Bank Chief Mario Draghi.

    Overall trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.

    The Federal Reserve is likely to be in focus next week, with the central bank due to announce its latest monetary policy decision next Wednesday.

    While the Fed is widely expected to leave interest rates unchanged, traders will pay close attention to the accompanying statement.

    Economic data may also attract attention next week, with traders likely to keep an eye on reports on new and existing home sales, durable goods orders, consumer confidence and second quarter GDP.


    The material has been provided by InstaForex Company - www.instaforex.com
  2. Crude oil futures tumbled Friday, giving back strong gains from earlier in the week amid concerns that next week's OPEC meeting will fail to address the global supply glut.

    Sept. WTI oil settles at $45.77/bbl, down $1.15, or 2.5%, on Nymex. Prices were down 2.1% for the week, tumbling from a 6-week high set Wednesday.

    Reports suggest Saudi Arabia will insist on compliance from Libya and Nigeria, the two OPEC nations that have been thus far exempt from supply cuts.

    Meanwhile, the U.S. rig count from Baker Hughes is due this afternoon, and may confirm U.S. production is finally slowing down due to stubbornly low oil prices.


    The material has been provided by InstaForex Company - www.instaforex.com
  3. The dollar is losing ground against all of its major rivals Friday afternoon. The buck has been sinking against both the Euro and the Japanese Yen for the majority of the week and has now reached nearly a 2-year low against the Euro.

    Political concerns have contributed to the dollar's slide this week, as well as hawkish comments from European Central Bank Chief Mario Draghi, suggesting a possible policy tweak.

    U.S. special counsel Robert Mueller is reportedly expanding the Russia probe to include Trump's business transactions stoked worries about economic agenda.

    Media reports suggested that Muller is examining a broad range of transactions involving Trump's businesses as well as those of his associates.

    Investigators are looking at Russian purchases of apartments in Trump buildings, Trump's involvement in a controversial SoHo development with Russian associates, the 2013 Miss Universe pageant in Moscow and Trump's sale of a Florida mansion to a Russian oligarch in 2008, according to the reports.

    The International Monetary Fund on Thursday approved "in principle" a new loan worth $1.8 billion to Greece.

    However, the arrangement has been approved in principle, which means it will become effective only after IMF receives specific and credible assurances from Greece's European partners to ensure debt sustainability.

    Further, a second executive board decision is needed to make the arrangement effective.

    Greece's debt remains unsustainable, the IMF noted. In the medium term, Athens needs to achieve primary surplus target of 3.5 percent of GDP. The dollar has tumbled to a nearly 23-month low of $1.1675 against the Euro Friday afternoon, from an early high of $1.1618.

    The buck rose to an early high of $1.2952 against the pound sterling Friday, but has since eased back to around $1.30.

    The UK budget deficit widened more-than-expected in June as debt interest increased notably after inflation lifted the cost of index-linked bonds.

    Public sector net borrowing, excluding interventions, increased by GBP 2.0 billion from a year ago to GBP 6.9 billion in June, data from the Office for National Statistics showed Friday. The expected figure was GBP 4.9 billion.

    The greenback has dropped to nearly a 1-month low of Y111.125 against the Japanese Yen this afternoon, from an early high of Y112.077.


    The material has been provided by InstaForex Company - www.instaforex.com
  4. Gold futures continued to rise Friday, extending weekly gains as stocks languished. With risk aversion picking up, gold has jumped to highest in more than a month due to its safe haven appeal

    August gold climbed $9.40, or 0.8%, to settle at $1,254.90/oz, having picked up 2% this week. Silver has also rallied, fighting back from yearly lows over the past two weeks.

    Commodities were boosted this month by a weaker U.S. dollar. The greenback has dropped sharply this summer amid renewed speculation the Federal Reserve will keep interest rates on hold until at least December.


    The material has been provided by InstaForex Company - www.instaforex.com
  5. The Canadian dollar climbed against its major opponents in the European session on Friday, after better-than-expected domestic consumer price inflation for June and retail sales for May.

    Data from Statistics Canada showed that consumer price index was flat on a seasonally adjusted monthly basis, following a 0.2 percent slide in May. Economists were looking for a 0.1 percent drop.

    Core CPI, excluding food and energy, rose 0.2 percent on a seasonally adjusted monthly basis, from a 0.1 percent gain last month.

    Retail sales increased for the third consecutive month, rising 0.6 percent to $48.9 billion in May.

    This exceeded forecasts for a 0.3 percent uptick and follows a downwardly revised 0.7 percent increase in April.

    Core retail sales, excluding motor vehicle and parts dealers, dropped 0.1 percent month-on-month in May, compared to a downwardly revised 1.3 advance in the previous month. The index was forecast to be flat.

    Meanwhile, oil prices fell ahead of the OPEC meeting next week, when OPEC and Russia will meet in Moscow to discuss their supply quota plan.

    Crude oil for September delivery fell $0.72 to $46.20 a barrel.

    The loonie showed mixed performance in the Asian session. While the loonie dropped against the greenback and the euro, it held steady against the yen. Against the aussie, it rose.

    The loonie advanced to 1.2546 against the greenback, off its early low of 1.2609. The next possible resistance for the loonie is seen around the 1.24 area.

    Having fallen to a 9-day low of 1.4683 against the euro at 2:45 am ET, the loonie climbed to 1.4601. Continuation of the loonie's uptrend may see it challenging resistance around the 1.45 mark.

    The Survey of Professional Forecasters published by the European Central Bank showed that the Eurozone economy is forecast to expand at faster than expected pace.

    SPF respondents lifted 2017 growth outlook to 1.9 percent from 1.7 percent and that for next year to 1.8 percent from 1.6 percent. Expectations for 2019 was raised marginally to 1.6 percent from 1.5 percent.

    The loonie was trading in a positive territory against the aussie with the pair trading at 0.9955. This may be compared to a 3-day peak of 0.9920 set at 11:45 pm ET. Further uptrend may take the loonie to a resistance around the 0.97 region.

    The Reserve Bank of Australia's Deputy Governor Guy Debelle said that Australia's interest rate need not increase automatically with the tightening of other central banks.

    "Just as the policy rate in Australia did not need to decline to the very low levels seen in other parts of the world, the fact that other central banks increase their policy rates does not automatically mean that the policy rate here needs to increase," Debelle said in Adelaide.

    The loonie bounced off to 88.90 against the Japanese yen, from a 3-day low of 88.45 hit at 8:15 am ET. The loonie is likely to target resistance around the 92.00 level.


    The material has been provided by InstaForex Company - www.instaforex.com