Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Germany ZEW Survey - Economic Sentiment improves more than expected to 34.2 in August
German ZEW Survey - Economic Sentiment arrives at 34.2 in August, beating the estimates of 30.0 and the July reading of 26.3.
Germany ZEW Survey – Economic Sentiment above expectations (30) in August: Actual (34.2)
Germany ZEW Survey – Economic Sentiment above expectations (30) in August: Actual (34.2)
Germany ZEW Survey – Current Situation registered at -61.1 above expectations (-68.8) in August
Germany ZEW Survey – Current Situation registered at -61.1 above expectations (-68.8) in August
Fiscal concerns and doubts on Fed independence send US yields to long-term highs
US Treasury yields keep rising across the curve this week, with the yield for the 30-year Treasury bond reaching its highest level since 2007, during the global financial crisis, at 5.33% so far on Monday.
United Kingdom: Stagnation with stabilisation signs – Deutsche Bank
Deutsche Bank’s Chief UK Economist Sanjay Raja notes that while the United Kingdom (UK) economy has exceeded expectations, the labour market remains stagnant, with the jobless rate stuck at 4.9% and payrolled employees falling.
Canadian Dollar: Fragile recovery tied to US – Commerzbank
Commerzbank FX analyst Michael Pfister highlights that the Canadian Dollar’s recent weakness contrasts with a fragile recovery in Canada’s real economy.
New Zealand Dollar declines due to increased risk aversion
NZD/USD depreciates after two days of losses, trading around 0.5880 during the European hours on Tuesday. The pair depreciates as the US Dollar (USD) holds ground on safe-haven flows amid escalating geopolitical tensions between the US and Iran.
GBP/JPY Price Forecast: Pound steadies below the 216.35 resistance area
The British Pound (GBP) edges higher against the Japanese Yen (JPY) on Tuesday and extends gains for the third consecutive day, despite the mixed UK employment figures seen earlier on the day.
Australian Dollar: Upside risk targets 0.7150 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that AUD/USD strength remains intact after a jump to 0.7129, though overbought conditions should confine intraday moves to a 0.7090–0.7130 band.
British Pound: Softer as jobs data cools hikes – ING
ING’s Chris Turner reports a firmer EUR/GBP after UK labour data, with economist James Smith highlighting a cool jobs market and minimal wage pressures, implying little impetus for Bank of England hikes this year.
Japanese Yen hits drift closer to the key 160.00 level as risk appetite fades
The Japanese Yen (JPY) accelerates its decline as the US Dollar (USD) draws support from a sourer market mood, with investors wary of a re-escalation of tensions in the Middle East.
USD/CAD Price Forecast: Consolidates below 1.3900 as bears await 200-SMA breakdown
The USD/CAD pair struggles to capitalize on the overnight bounce from its lowest level since June 3, around the 1.3845 zone, also representing the 200-day Simple Moving Average (SMA) support, and oscillates in a narrow band on Tuesday.
Forex Today: Mood sours as Middle East tensions come back under spotlight
Here is what you need to know on Tuesday, August 18: