Forex News

Turkish Central Bank Announces 6th Consecutive Rate Cut

  The greenback rose against the Turkish lira after the Central Bank of Turkey (Türkiye Cumhuriyet Merkez Bankası or TCMB) slashed interest rates for the sixth successive time, pointing to a rebound in economic activity and the necessity to maintain

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Aussie Down as RBA Signals Further Rate Cuts

  The Aussie declined against the Japanese yen even after a preliminary report published by the Cabinet Office indicated that Japan’s economy contracted by 6.3% in the December 2019 quarter. Notably, the Central bank of China’s announcement of an interest

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Malaysian Economic Growth Tumbles to Decade Low

  The Malaysian ringgit declined against the greenback after the data published by the central bank of Malaysia (Bank Negara Malaysia or BNM) indicated that the country recorded its slowest rate of growth in a decade in the fourth quarter.

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Euro Declines on Weak Sentix Investor Sentiment Index

  The euro dollar declined against the Aussie yesterday after Sentix, the behavioral research institute, reported a decline in the investor sentiment in the Eurozone. The Australian dollar is strengthening on the announcement of fresh loans by China to nullify

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Thai Central Bank Slashes Interest Rate To Spur Growth

  The greenback rallied against Thai Baht yesterday after the central bank of Thailand trimmed its benchmark interest rate in a surprising move, pointing to weaker-than-anticipated outlook, in part due to the Wuhan coronavirus epidemic. In the past 24 hours,

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Yen Down on Weak Jibun Bank Manufacturing PMI Data

  The greenback gained ground against the yen yesterday after Japan’s Jibun Bank Manufacturing PMI data for January missed analysts’ estimates. The USD/JPY pair’s uptrend gained further momentum after the Institute for Supply Management (ISM) reported an upbeat manufacturing PMI

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Pound Turns Volatile as Market Awaits BoE’s Rate Decision

  The British Pound rallied against the greenback in the European session yesterday after the data from the UK’s Nationwide Building Society (NBS) indicated that house prices rose at the quickest rate in over a year in January. However, the

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Swiss Franc Strengthens on Coronavirus Risk-Off Mode

  The euro dollar continues to decline against the Swiss franc after Germany’s Ifo institute reported an unexpected decline in the business sentiment index. The downtrend was also aided by the market’s switch over to risk-off mode due to increasing

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South Korea’s Q4 GDP Growth Beats Estimates

  The US dollar lost ground against the Korean won after the Bank of Korea, the central bank of the Republic of Korea, stated that the country’s gross domestic product rose by a seasonally adjusted 1.2% in the fourth quarter

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China Leaves Benchmark Lending Rate Unchanged

  As anticipated, the People’s Bank of China (PBoC) left the benchmark lending rates unchanged for the second successive month. The prime rate for a one-year loan was maintained at 4.15% and the prime rate for five-year loans at 4.80%.

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