Forex Market

The Dollar index (DXY) continues to maintain its decline for another day as it is closed to finish Tuesday’s session down by 0.31% a little above the 93 mark. The DXY measures the performance of the US Dollar (USD) against a basket of six major currencies. The USD is down …

The British Pound (GBP) rose on Tuesday on the back of the US Dollar (USD) decline, despite a decline in the UK’s retail sales. The Sterling is up against the USD by 0.47% with the GBP/USD trading at 1.3124. Retailers in the UK have cut jobs at the highest rate …

The Dollar Index (DXY) that measures that performance of the US Dollar (USD) against a basket of six major currencies. The DXY is up by 0.08% for the day at 93.33, after closing last week at 93.25. The index’s daily range has been between 92.84 and 93.34. In the absence …

The Euro (EUR) is trading higher against the British Pound (GBP) on Monday. The EUR/GBP is up by 0.23% for the day, trading at 0.90311. Recent market forecasts expect the pair to maintain the 0.90 range until a trade deal between the United Kingdom (UK) and the European Union (EU) …

The Canadian Dollar (CAD) has been appreciating against the US Dollar (USD) for the past six weeks, however, the USD/CAD is recovering some of its earlier losses. After dropping earlier today to its lowest level since January, the pair is currently trading at 1.3224, up by 0.36% for the day. …

The single European currency has witnessed positive movements during Monday’s trading, settling above the lowest level in a week against the US dollar recorded earlier, after the US dollar’s ​​rise slowed, in conjunction with renewed purchases of high-risk currencies. The euro is currently higher against the dollar by more than …

The dollar fell in early trade in London, while riskier currencies and European stocks rose at the open, and some analysts attributed the improvement in sentiment to the United States ’approval of a treatment for Covid-19 patients. The Coronavirus has killed more than 800,000 people around the world, and the …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.

European stocks finished lower on Friday, after PMI data showed a decline in economic expansion in the Eurozone, reflecting challenges in the road to recovery from the impacts of the COVID-19 crisis. The Stoxx Europe 600 index closed lower by 0.21%, increasing its weekly losses to 0.9%. Meanwhile, the UK’s …

The IHS Markit flash composite purchasing managers’ index (PMI) for the Eurozone declined in August, to 51.6 from 54.9 in July, reflecting the challenging road for recovery facing economic activity in the European bloc.   However, the index remained in the expansion territory above the neutral 50 reading. The data …