Latest forex news
Here are the latest Forex news and updates:
Market Analysis
- USD/JPY: The pair is trading near a 2-week high, supported by a stronger US dollar and a weaker yen. The pair is expected to continue its upward momentum, with a target at 114.50.
- EUR/USD: The pair is trading near a 2-week low, weighed down by a stronger US dollar and a weaker euro. The pair is expected to continue its downward trend, with a target at 1.1700.
- GBP/USD: The pair is trading near a 2-week high, supported by a weaker US dollar and a stronger pound. The pair is expected to continue its upward momentum, with a target at 1.3300.
Economic News
- US GDP: The US GDP growth rate slowed down to 2.1% in the fourth quarter of 2022, missing expectations of 2.3%. The slowdown was attributed to a decline in consumer spending and a decrease in business investment.
- Eurozone Inflation: The eurozone inflation rate rose to 8.5% in February, exceeding expectations of 8.2%. The increase was driven by higher energy and food prices.
- UK Inflation: The UK inflation rate rose to 10.4% in February, exceeding expectations of 10.2%. The increase was driven by higher energy and food prices.
Central Bank News
- Federal Reserve: The Federal Reserve is expected to raise interest rates by 25 basis points at its next meeting, citing concerns over inflation and the economy.
- European Central Bank: The European Central Bank is expected to keep interest rates unchanged at its next meeting, citing concerns over the economic outlook and inflation.
- Bank of England: The Bank of England is expected to raise interest rates by 25 basis points at its next meeting, citing concerns over inflation and the economy.
Commodity News
- Oil: Oil prices rose to a 2-week high, supported by a weaker US dollar and a decline in US oil inventories.
- Gold: Gold prices fell to a 2-week low, weighed down by a stronger US dollar and a decline in demand.
- Copper: Copper prices rose to a 2-week high, supported by a weaker US dollar and a decline in US copper inventories.
Other News
- Russia-Ukraine Conflict: The conflict between Russia and Ukraine continues to escalate, with both sides trading accusations and engaging in military actions.
- China-US Trade Talks: The US and China are set to resume trade talks, with both sides seeking to resolve their differences and avoid further tariffs.
- UK-EU Trade Talks: The UK and EU are set to resume trade talks, with both sides seeking to agree on a trade deal before the UK's transition period ends.
These are just some of the latest Forex news and updates. Remember to always stay informed and up-to-date with market news and analysis to make informed trading decisions.