FOREX News

The British pound plunged to a 37-year low this past Friday after new data showed consumers haveslowed spending, raising fears that the economy may already be in a recession.The currency fell below $1.14, a level not seen since 1985. Retail ...

US companies added more than double the number of jobs forecast for July, revealing strong labor demand that tempered recession fears and suggested the Federal Reserve will continue to use steep interest rate hikes to combat out-of-control  inflation.Non-farm payrolls leapt ...

Argentina’s new Economy Minister Sergio Massa has pledged to stop printing money that helps fuel runaway inflation. With the country facing a deepening economic crisis, Massa became the third economic minister in a month.  He inherits the enormous challenge of ...

The euro was still jittery in this week’s trading after its steepest plunge in two weeks, as a disruption in Russian gas supplies sent energy prices soaring. The euro fell about 1% to $1.0108 overnight, its biggest fall since early ...

The Indian rupee has fallen more than 7% in 2022, adding to inflationary pressure and destroying margins for importers in this otherwise import-dependent country.  The rupee stands on the threshold of 80 to a US dollar and may soon fall ...

The Reserve Bank of Australia (RBA) has said that interest rates will need to be raised much higher to calm red-hot inflation, despite recent rate hikes. The central bank sees the prevailing benchmark rate of 1.35% as being “well below” ...

The Chilean peso suffered heavy losses last week, slumping to a record low as the country’s central bank delivered an underwhelming interest rate hike that disappointed the markets. The peso plummeted by almost 5% to an unprecedented 1,060.40 per US ...

Bank of Canada Governor Tiff Macklem has announced a supersizing interest rate hike of a full percentage point. The move left Canadians shocked, especially given the country’s hot housing market and heavy debt loads. The Bank of Canada has a ...

The US dollar is gaining strength at a rapid rate, achieving its strongest level against other major currencies in almost 20 years. The US dollar Index has jumped 4% in the past month and nearly 13% year-to-date, while other important ...

US Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki pledged this week to further solidify bilateral ties and work together to tackle rising food and energy prices exacerbated by Russia's attack on Ukraine. The finance leaders agreed the ...

For the first time in almost 20 years, the exchange rate between the euro and the US dollar is equal. This comes after the euro fell nearly 20% in value over the past year compared to the US dollar. In ...

Investors this week flocked to the US dollar in search of a safe haven, strengthening the greenback to levels not seen since 2002. Meanwhile, the euro slumped to 20-year lows as the latest surge in European gas prices increased recession ...

Asia’s manufacturing slowed markedly in June as many firms suffered supply disruptions because of China’s tough COVID-19 lockdowns. This, in addition to worrying signs of economic downturns in Europe and the US, have analysts fearing a global recession. Several economic ...

The Iranian Rial plunged to its lowest value ever this monthת as talks to resuscitate the country’s broken nuclear deal with world powers remained at an impasse. Traders in Tehran exchanged the rial at 332,000 to the US dollar, up ...

The euro gained ground on Tuesday as investors steadied themselves for European inflation figures to remain hot this week while they waited on a speech from European Central Bank (ECB) President Christine Lagarde. The euro climbed 0.3% in the week’s ...