Forex News

New Zealand Posts Better-Than-Anticipated Trade Surplus

  The Kiwi dollar remained range-bound against the US dollar yesterday despite the release of better-than-anticipated trade surplus data by Statistics New Zealand. The release of impressive durable goods orders data by the US Census Bureau was the main reason

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Australia Announces Massive A$66bln Stimulus Package

  The Aussie rose against the greenback yesterday despite the roll-out of another massive round of stimulus package worth A$66 billion by the Australian government. The latest series of incentive measures were aimed at backing households and enterprises and resolving

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Canadian Dollar Declines as Oil Plunges to $20 Per Barrel

  The greenback rallied against the Canadian dollar after Statistics Canada reported lower-than-anticipated median consumer price index for February. The loonie’s decline was also aided by fears of a global recession, which has encouraged speculators and money managers to aggressively

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Kiwi Dollar Turns Volatile as RBNZ Announces Rate Cut

  The New Zealand dollar declined sharply against the greenback in the Asian session Monday after the RBNZ (Reserve Bank of New Zealand) announced an unexpected rate cut while hinting at further stimulus measures to mitigate the negative impact of

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Pound Down on Emergency Rate Cut of 50bps by BoE

  The pound fell sharply against the greenback after the Bank of England slashed the benchmark interest rate unexpectedly while unveiling a fresh stimulus program for small companies. The central bank chose to reduce interest rates to negate the negative

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China’s Exports Plummet 17.2% in January-February Period

  In the offshore market, the Chinese yuan lost 0.3% to trade at 6.9053 a dollar as data published by the country’s General Administration of Customs indicated a sharp decline in exports from January to February. As the country grapples

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RBA Announced Preemptive Rate Cut of 25 Basis Points

  The GBP/AUD pair remained range-bound yesterday despite the release of better-than-anticipated GDP data (December quarter) from Australia. Concerns over the outbreak of coronavirus in China and other countries have turned the sentiment bearish towards the Aussie. China is the

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China Manufacturing Activity Dips to Lowest in 16yrs

  The US dollar declined against the Chinese yuan yesterday despite reports of the Chinese manufacturing sector’s contraction at a record pace last month. According to IHS Markit, the Chinese manufacturing sector was hit by the unexpected outbreak of coronavirus

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Hong Kong Unveils HK$120bln Worth Stimulus Program

The US dollar rose against the Hong Kong dollar yesterday after the highly autonomous region under the direct control of Beijing unveiled HK$120 billion worth of stimulus measures to reboot the economy that plunged into a recession in the fourth

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German business confidence Improves Despite Virus Concerns

  The euro dollar remained range-bound against the Kiwi dollar yesterday as data from both Germany and New Zealand were better than economists’ expectations. While Germany’s business confidence improved slightly in February, the total retail sales volume grew in New

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