The euro and the sterling hit new one-week highs on Friday, buoyed by Bank of England steps to reassure markets and hawkish signals from the European Central Bank as some calm returned to foreign exchange markets at the end of a wild week. The British currency was headed for its […]
Business Forex
FOREX-Euro, sterling plunge on dour business activity data, UK mini-budget
* Euro hits fresh 20-year low vs dollar * Sterling falls to new 37-year trough * Dollar index is at 20-year high * Dollar/yen higher on the day, but markets still cautious (Adds new comment, FX table, byline, NEW YORK dateline; bullets, updates prices) By Joice Alves and Gertrude Chavez-Dreyfuss […]
RBI: India’s forex reserves fell the most among emerging economies: Report
As the Reserve Bank of India (RBI) sold dollars to arrest the fall of the Indian Rupee, India’s forex reserves depleted the most among all emerging economies. Since the beginning of 2022, India’s reserves have fallen 13.88 per cent from $633.6 billion to $545.6 billion, according to a report […]
China forex regulator warns against illegal money outflows
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BEIJING, Sept 30 (Reuters) – China’s foreign exchange regulator named and shamed 10 banks that had assisted illegal capital outflows, vowing to crack down on fake forex transactions in authorities’ latest effort to stabilise the sliding yuan. The State Administration of Foreign Exchange (SAFE) listed 10 “typical” cases of misdeeds […]
NZ business sentiment is less dire RBNZ hint at rate cycle high
Business outlook is now -37.6, up 25.9 points higher than the June low Business outlook rose for a third month and at its fastest m/m pace since December 2020 Activity outlook rose from -4 to -1.8 (close to expansion) Import intentions expanded for a second month A ‘large improvement’ […]
German Ifo business survey on the agenda in Europe today
The dollar continues to run hot in the new week as we carry over the same themes from last week. The most jarring move is seen in GBP/USD as the currency is down 3% on the day now to 1.0535, after having hit a low of 1.0357 earlier as the […]
EAC states urged to lower forex and money transfer charges to boost trade
EAC states urged to lower forex and money transfer charges to boost trade NAIROBI, Kenya – The East African Business Council [EABC] has asked East African Community[EAC] states to lower the forex and money transfer charges as a way of stabilizing regional currencies and stabilizing the exchange rates within […]
Dallas Fed September manufacturing business index -17.2 vs -12.9 prior
Prior was -12.9 Employment 15.0 vs 15.6 last month Hours worked 8.0 from 14.4 last month New orders -6.4 from -4.4 last month Production 9.3 vs 1.2 last month Raw material price paid 37.1 vs 34.4 last month Prices received 18.1 vs 26.8 last month month Shipments 7.1 vs 3.4 […]
FXCM Wins Three Top Accolades at Global Forex Awards 2022
LONDON–(BUSINESS WIRE)–FXCM Group, LLC (‘FXCM Group’ or ‘FXCM’), a leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services has won three awards at the 2022 Global Forex Awards. FXCM was awarded Most Transparent Forex Broker globally, Best Forex Trading Experience in Europe and Best Forex […]
FOREX-Euro, sterling plunge on soft business activity data, UK budget woes
By Gertrude Chavez-Dreyfuss NEW YORK, Sept 23 (Reuters) – The euro and sterling plummeted to fresh 20-year and 37-year lows against a surging U.S. dollar on Friday after surveys showed the downturn in business activity across the euro zone and Britain accelerated this month and the economies were likely entering […]