Forex News

Pound Advances as Markets Await Johnson News – 07 April 2020

Pound Advances as Markets Await Johnson News - 07 April 2020

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Analysts say that markets will respond to any news of Boris Johnson's health with a knee-jerk reaction but that long term fiscal policy will likely be unchanged in the longer term, say out from three to six months. The Pound Sterling gained against major rivals during London trade on Tuesday after a rebound in riskier…
Russia to Participate in the OPEC+ Meeting – 07 April 2020

Russia to Participate in the OPEC+ Meeting - 07 April 2020

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Russian news agency RIA Novosti claimed that currently there is no consensus between Russia and Saudi Arabia regarding the output cuts that need to be implemented to keep the oil prices under control. Russia just confirmed its participation in the OPEC+ meeting that is taking place on April 9. The conference is taking place via…
Dollar Eases on Japanese Stimulus – 07 April 2020

Dollar Eases on Japanese Stimulus - 07 April 2020

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The U.S. dollar eased against the Japanese yen and its other major currency partners on Tuesday afternoon in Asia after Japanese Prime Minister Shinzo Abe announced a near $1 trillion dollar stimulus. Gains were capped, however, by the declaration of a state of emergency in several of the country’s biggest cities. Tokyo, Kanagawa, Saitama, Chiba,…
Forex Today: Has the Bear Market Been Reached? – 07 April 2020

Forex Today: Has the Bear Market Been Reached? - 07 April 2020

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Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and…
Pound Recovers on Johnson Health News

Pound Recovers on Johnson Health News

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The Pound Sterling recovered in the overnight trading against the US Dollar on news that the Prime Minister was likely to shortly be returning to office. Boris Johnson, who announced nearly two weeks ago that he tested positive for the Coronavirus, had been hospitalized over the weekend for persistent symptoms of the virus. The UK…
Germany’s Factory Orders Slumped in February

Germany's Factory Orders Slumped in February

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German Factory Orders went down in February according to data released by the Federal Statistics Office. The data shows a 1.4 percent contraction in contracts for German goods, slightly higher than the analyst's expectations, who foresaw a 1.9 percent contraction. This data shows a struggling manufacturing sector, compared to January's figure, which added 5.5 percent.…
Russia, Saudia Arabia Near Deal Despite Meeting Delays

Russia, Saudia Arabia Near Deal Despite Meeting Delays

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Saudi Arabia and Russia are “very, very close” to a deal on oil production cuts, Kirill Dmitriev, the CEO of Russia’s sovereign wealth fund Russian Direct Investment Fund (RDIF), said on Monday morning. He hinted that the deal will also include production cuts from the United States. The two oil titans were expected to have…
Forex Today: World Recession Inevitable

Forex Today: World Recession Inevitable

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TD recommends buying EUR/GBP

TD recommends buying EUR/GBP

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Trade of the week from TD TD recommends buying EUR/GBP with a target of 0.9150 and a stop at 0.8605. The recommendation is their trade of the week and they say solutions may be coming from the eurozone while the virus makes things more chaotic in the UK. Efx Plus carries trade ideas like this…
TD recommends buying EUR/GBP

Trump says US currency has remained very strong

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Trump comments on the currency This is really a throwaway comment but it's notable that Trump is watching the currency. There are plenty of people who are worried about intervention to weaken the dollar. The risks were much higher three weeks ago but even now the dollar will be a headwind to a US recovery.