Forex News

17:30
July 9, 2020
USD/CAD advances toward 1.3600 on USD strength, oil selloff
USD/CAD gains traction during American session on Thursday. US Dollar Index advances above 96.70 on risk aversion. WTI slumps below $40, weighs on commodity-sensitive loonie. The USD/CAD pair moved sideways near 1.3500 for the majority of the day before gaining traction during the early trading hours of the American session. Boosted by the broad-based USD…
17:15
July 9, 2020
Oil Price Analysis: WTI dipps under $40 but there are a few key support levels close by
WTI is trading over 2% lower on Thursday as a bout of risk-off sentiment sents commodities lower. The price is currently hugging the $40 per barrel psychological support area. WTI 4-hour chart WTI has struggled on Thursday as a bout of risk-off sentiment sent the US dollar higher. If fairness to oil, the price has been…
17:00
July 9, 2020
GBP/USD reverses and drops to test 1.2600
Cable reverses as the US Dollar rebounds from weekly lows. Wall Street drops sharply, volatility soars, and gold declines to $1800/oz. The GBP/USD pair is still positive for the day, on its way to the fifth consecutive daily gains but it moved off highs. Earlier on Thursday, it climbed to 1.2669, the highest level in…
16:30
July 9, 2020
Gold Price Analysis: $1800 is being used as the intraday support for XAU/USD
Gold is trading 0.53% lower on Thursday after its recent rally. The market could take the price back into the previous consolidation is the support cannot hold. Gold 4-hour chart   Gold has retraced on Thursday during the US session after the recent impressive rally. At the moment the market is grappling with the USD…
16:00
July 9, 2020
Canada: Housing Starts in Q2 hint at a negative contribution from construction – NFB
In Canada, Housing starts rose from 195.5K in May to 211.7K in June. Kyle Dahms, an analyst at National Bank of Canada point out starts were elevated but this may be due to some artificial given pent-up construction because of closures. Key Quotes: “Housing starts were stronger than expected for a third month in a…
16:00
July 9, 2020
US: Labor market data continue to improve – Wells Fargo
Data released on Thursday showed another decrease in initial jobless claims. Analysts at Wells Fargo point out declines were even seen in states facing sharp rises in COVID-19 cases.  Key Quotes:  “Weekly first-time unemployment claims fell for the 14th consecutive week. Claims fell slightly more than the consensus estimate, but remain historically high at 1.314…
16:00
July 9, 2020
Coronavirus update US: Arizona cases rise by 4,057 to a total of 112,671
The latest data published by Arizona's health department showed that the number of confirmed coronavirus cases in the state rose by 4,057 to a total of 112,671, as reported by Reuters. Further details of the daily update revealed that COVID-19-related hospitalizations increased by 16 to 3,437 as of Wednesday to post a fresh record high for…
15:45
July 9, 2020
S&P 500 Index drops toward 3,100 on political jitters
S&P 500 falls sharply as investors react to Supreme Court ruling. Markets turn risk-averse, CBOE Volatility Index rises more than 11%. After starting the day in a quiet manner, the S&P 500 Index (SPX) came under strong bearish pressure amid heightened political tensions in the United States. As of writing, the SPX was down 1.45%…
15:30
July 9, 2020
US health official Fauci: Hope to have a coronavirus vaccine by end of calendar year
Dr Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, said on Thursday that he hopes that they will have a COVID-19 vaccine bu the end of this calendar year or the beginning of 2021. "Moderna vaccine will very likely be going into advanced phase three clinical trials by the end…