Forex News

Today's FXStreet Newswire

The latest news that can have the most noticeable market impact

16:15
April 9, 2020
OPEC+ debates cuts in excess of 12 million bpd – Reuters
The OPEC and non-OPEC producers (OPEC+) are debating crude oil output cuts in excess of 12 million barrels per day, Reuters reported on Thursday, citing an OPEC+ source familiar with talks. OPEC+ reportedly wants other producers to contribute with a production reduction of 5 million barrels per day. Market reaction Crude oil prices edged slightly higher on this…
16:00
April 9, 2020
US PPI: Initial impact of COVID-19 – Wells Fargo
The Producer Price Index in the US dropped 0.2% in March and the core rose 0.2%. Analysts at Wells Fargo point out inflation is soft and containment efforts from COVID-19 should weigh on prices. Key Quotes:  “The trend in inflation is softening. Ex-food, energy and trade services, “core-core” PPI matched the headline for a 0.2%…
16:00
April 9, 2020
EUR/USD Price Analysis: Euro trades in two-day’s highs above 1.0900 figure as Fed injects trillions of liquidity
EUR/USD spikes up above the 1.0900 figure on extraordinary Fed’s comments.  Support is seen near the 1.0900 and 1.0850 levels.     EUR/USD daily chart    EUR/USD is bouncing from the 1.0800 figure while trading below the main SMA (simple moving average) on the daily chart. The Fed announced it would inject $2.3 trillion in additional…
15:45
April 9, 2020
USD/JPY extends slide below 108.50 on US dollar sell-off
US dollar tumbles on Thursday, DXY down 0.60%.  USD/JPY erases weekly gains, moves away from 109.00.  The USD/JPY pair dropped further during the American session despite the rally in Wall Street. It printed a fresh four-day low at 108.35 and it remains near the bottom, under pressure. The greenback is falling sharply across the board…
15:45
April 9, 2020
US Dollar Index Price Analysis: DXY dips below 100.00 figure as Fed adds $2.3 trillion to its balance sheet
US dollar index (DXY) is consolidating gains below the 100.00 mark.  Support can emerge near the 99.50 and 99.00 levels.    DXY daily chart   DXY is trading in a bull trend above the main daily SMAs, however, the greenback is losing steam below the 100.00 figure this Thursday as the Fed announced it will…
15:15
April 9, 2020
WTI oil falls below $26 as OPEC+ is yet to announce deal details
According to Dow Jones, Saudi Arabia would cut four million barrels per day while Russia would slash two mpbd. It is unclear where the rest of the 20mbpd cuts would come from. Delegates are speaking about a 10mpbd according to Bloomberg.  Earlier reports from Reuters suggested a total reduction of 20mbpd and that sent WTI…
14:45
April 9, 2020
Saudi Arabia and Russia have a deal on deep oil output cuts – Reuters
Saudi Arabia and Russia have reached a deal on deep oil output cuts, Reuters reported on Thursday, citing an OPEC source familiar with the matter.  "Russia and Saudi Arabia have managed to remove their main obstacles to agreeing on a new deal on oil cuts," a senior Russian source told Reuters. "OPEC+, others to discuss oil cuts…
14:45
April 9, 2020
Fed’s Powell: Will be in no hurry to pull back on asset purchases or programs
The reopening of the US economy is a judgement that has to be made by health officials, FOMC Chairman Jerome Powell said during the Q&A session of an online event hosted by the Brookings Institution on Thursday. Key quotes "Will be in no hurry to pull back on asset purchases or programs." "The economy has to be on…
14:45
April 9, 2020
BoC: 0.25% is the effective lower bound – TDS
With so much stimulus already in the system, there isn't much suspense around the April interest rate announcement by the Bank of Canada (BoC), per TD Securities. Key quotes “As long as Poloz is Governor, we see limited risk of another rate cut from the BoC.” “If the BoC forecast errs on the optimistic side…
14:30
April 9, 2020
Oil: It is OPEC day – TDS
The OPEC+ video-conference will see the cartel's energy ministers discuss a potential negotiated agreement, strategists at TD Securities apprise. Key quotes “We don't expect a final deal announced today, as a large-scale deal will need the US to participate, and they are not in attendance for today's virtual meeting.”  “Friday will see a G-20 meeting…