News
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EUR off earlier peaks above 1.17 – Scotiabank
Euro (EUR) gains extended to the low 1.17 area overnight before easing back modestly but the broader backdrop of trade, rate and sentiment challenges for the USD as well as hopes that US pressure for an end to the Ukraine war as Trump/Putin plan to meet in Budapest are all combining to lift the EUR
Fxstreet
Fri, Oct 17
France knows it must cut deficit and that calms markets, IMF says
WASHINGTON, Oct 17 (Reuters) - French politicians agree that public finances need to be shored up and this consensus keeps financial markets calm despite the political instability France has been experiencing since mid 2024, the head of the IMF's European department Alfred Kammer said.Kammer sai...Reuters
Fri, Oct 17
CAD holds range as weak risk appetite counters spread narrowing – Scotiabank
The Canadian Dollar (CAD) is little changed on the session at writing but spot did pop briefly higher in overnight trade before edging back to the lower end of the trading range seen over the past few sessions, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Fxstreet
Fri, Oct 17
World Bank's Banga calls for more transparency in debt restructuring process
WASHINGTON, Oct 17 (Reuters) - World Bank President Ajay Banga on Friday stressed the need to increase transparency in debt restructuring processes to give greater clarity to all parties involved, including by expanding the debtor reporting system to all Group of 20 major economies.Banga said the Wo...Reuters
Fri, Oct 17
Yields on UK gilts end week-long fall after touching 3-month lows
LONDON, Oct 17 (Reuters) - British government borrowing costs were on course to close up for the first time in a week on Friday, reversing course after yields on most maturities touched their lowest in more than three months earlier in the session.Gilt yields dropped by between three and four basis ...Reuters
Fri, Oct 17
Bessent urges IMF, World Bank to take tougher line on China
WASHINGTON, Oct 17 (Reuters) - U.S. Treasury Secretary Scott Bessent on Friday gave specific marching orders for the International Monetary Fund and World Bank to take tougher stances on China's state-driven economic practices as part of his push to get the global lenders to refocus on their cor...Reuters
Fri, Oct 17
USD/JPY claws back early losses and rebounds to near 150.20 as US Dollar recovers
The USD/JPY pair recovers its early losses and rebounds to near 150.20 during the late European trading session on Friday. The pair bounces back as the US Dollar (USD) licks its wounds despite uncertainty over trade relations between the United States (US) and China remaining intact.
Fxstreet
Fri, Oct 17
FOREX-Dollar stumbles as investors worry over trade, US banks
Dollar index set for biggest weekly drop in three monthsSlide in bank stocks unnerves investorsSafe-haven Swiss franc and yen gainFed's Beige Book highlights rising layoffs, reduced spendingFed officials support more rate cuts amid economic weaknessBy Rocky Swift and Amanda Cooper TOKYO/LONDO...Reuters
Fri, Oct 17
NZD/USD treads water above 0.5700, as the risk-off mood holds bulls
The New Zealand Dollar recovery attempt from six-month lows at 0.5685 has remained limited at the lower range of the 0.5700s, which leaves the pair practically unchanged on the week, and the broader bearish trend intact.The Kiwi has been unable to take advantage of the US Dollar weakness, weighed do
Fxstreet
Fri, Oct 17
USD/JPY: Odds of USD breaking clearly below 149.50 are increasing – UOB Group
Risk for US Dollar (USD) remains on the downside; oversold conditions suggest any decline may not reach 149.50. In the longer run, the odds of USD breaking clearly below 149.50 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Fri, Oct 17
NZD/USD: Likely to consolidate in a range of 0.5705/0.5750 – UOB Group
New Zealand Dollar (NZD) is likely to consolidate in a range of 0.5705/0.5750. In the longer run, the outlook for NZD is neutral now, and it is likely to trade in a range between 0.5685 and 0.5770, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Fri, Oct 17
USD/CAD retreats amid US Dollar weakness, Oil price drop
USD/CAD weakens on Friday, hovering around 1.4040 at the time of writing, extending its sideways consolidation since October 15. The US Dollar (USD) remains under pressure, hit by the ongoing US government shutdown and persistent trade frictions between the United States (US) and China.Fxstreet
Fri, Oct 17
GBP/USD can potentially test 1.3530 – UOB Group
There is a chance for Pound Sterling (GBP) to test 1.3475; a continued rise above this level is unlikely. In the longer run, if GBP breaks clearly above 1.3475, it could rise further to 1.3505, potentially testing 1.3530, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Fri, Oct 17
EUR/USD is set to rise further – UOB Group
There is room for Euro (EUR) to rise further; it remains to be seen whether it can break clearly above 1.1720. In the longer run, upward momentum is building, but EUR must close above 1.1720 before a move toward 1.1760 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Fri, Oct 17
CEE MARKETS-Zloty off 1-month high as central Europe's currencies retreat
PRAGUE, Oct 17 (Reuters) - Central Europe's currencies pulled back on Friday, with Poland's zloty retreating from a one-month high, as a brief rally sputtered and global stock markets fell on jitters over U.S. regional lenders.Central European currencies were still on course for a weekly gai...Reuters
Fri, Oct 17
GBP/JPY falls as Yen strengthens on BoJ tightening signals, UK tax hikes
GBP/JPY drops toward 201.00 on Friday, losing 0.50% at the time of writing, as the Japanese Yen (JPY) extends its recovery, supported by growing expectations of a future rate hike by the Bank of Japan (BoJ) and by a global environment favoring safe-haven assets.
Fxstreet
Fri, Oct 17
