Forex News

The Aussie dollar is prolonging the weekly downside on Wednesday, falling from the boundaries of the parity level on Monday to the current region of 0.9870/75, levels last seen in mid June 2012. After yesterday’s figures of the Federal Budget in Australia, Analyst Adrian Foster at Rabobank, commented, “Australia’s government debt levels are not big […]

Nomura economist Young Sun Kwon notes that the Bank of Korea (BOK) has unexpectedly cut its policy rates by 25bp to 2.50%. He had previously assigned a 45% likelihood to the BOK being forced to cut rates as political pressure for such a move was building on the BOK. He feels that today's decision suggests

The shared currency briefly pierced the key support at 1.3100 on Monday, after mixed signals from the Spanish economy. In fact, the services sector of the Mediterranean country extended its negative momentum in April, falling to 44.4 from 45.3 in the previous month, while the Unemployment Change surprisingly fell by 46.1K vs. a forecasted increase

The single currency is closing the week in the positive ground for the first time after two consecutive weeks in red, consolidating around the key level at 1.3100 after the US economy created 165K jobs during April, exceeding expectations and previous print. Moving forward to Monday’s docket, Services PMI prints in China and the euro