Forex News

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ECB, RBA Rates Remain Unchanged, Aussie GDP Slowed Most in Two Years

The Reserve Bank of Australia left Cash Rate at 2 percent as weakness in the Australian dollar has cushioned the blow of China’s weakness and lower commodity prices. Australian GDP revealed its weakest growth in two years as it posted 0.2 percent in the second quarter, mainly due to the weakness in export volumes, the […]

Yuan Devaluation Rattles Markets; Greece Approves Deal Amid Growing Opposition

China’s central bank rocked global markets this week as it initiated devaluation of the Yuan, saying it would begin setting the daily rate based in part on the prior day’s trading. In a press conference on Thursday, PBOC discussed its recent policy moves and Deputy Governor Yi Gang said “adjustment is almost complete”. He further […]

RBA, BOE Put Rate on Hold; Canada, US, NZ, Australia Jobs Outlook Diverge

On Tuesday, the Reserve Bank of Australia left the Cash Rate unchanged at 2 percent. Meanwhile, the Bank of England kept its Official Bank Rate at 0.50 percent. The latest Official Bank Rate votes surprisingly showed only one policymaker out of nine, Ian McCafferty, saw the need to raise rates. Analysts expected two BOE MPC […]

2nd Greek Bailout Vote Passes, Gold & Oil Continue their Decline

The Greek government approved on Thursday some reform-related demands of creditors in order to stay in the Eurozone. The televised voting showed 151 lawmakers supported Prime Minister Alexis Tsipras in passing the second tranche of policy measures. Meanwhile, in his speech in Frankfurt on the same day as the Greek vote, Bundesbank President Weidmann commented […]

Greece Stays in EU as Bailout Vote Passes, Euro Declines

The lawmakers in the Greek government approved the bailout agreement on Thursday, allowing the country to remain as a member of the Eurozone. The latest austerity measures have been approved as part of the 86 billion euro aid. In its latest decision, the ECB’s Minimum Bid Rate stayed at 0.05 percent as expected. However, Bank […]