Latest forex news update
Here are the latest Forex news updates:
Market Analysis
- USD/JPY: The pair is trading near a 2-week high, supported by the strong US dollar and the Bank of Japan's decision to maintain its ultra-loose monetary policy.
- EUR/USD: The pair is struggling to break above the 1.1300 level, as the European Central Bank's (ECB) dovish stance and the ongoing trade tensions weigh on the euro.
- GBP/USD: The pair is trading near a 2-week high, boosted by the UK's decision to delay its exit from the European Union and the Bank of England's (BoE) decision to keep interest rates unchanged.
Economic Indicators
- US GDP: The US economy grew at an annualized rate of 2.1% in the fourth quarter of 2019, slightly below expectations.
- Eurozone Inflation: The European Central Bank (ECB) reported that eurozone inflation rose to 1.3% in January, slightly above expectations.
- UK Retail Sales: UK retail sales fell by 0.6% in January, the largest decline since 2018, due to the ongoing Brexit uncertainty.
Central Bank Decisions
- Federal Reserve: The Federal Reserve kept interest rates unchanged at its latest meeting, citing the strong US economy and low inflation.
- European Central Bank: The ECB maintained its interest rates and asset purchase program, citing the need for continued monetary stimulus.
- Bank of England: The BoE kept interest rates unchanged, citing the need for caution due to the ongoing Brexit uncertainty.
Trade News
- US-China Trade Talks: The US and China are set to resume trade talks this week, with the US demanding significant changes to China's trade practices.
- US-Mexico Trade Deal: The US and Mexico have reached a new trade deal, replacing the North American Free Trade Agreement (NAFTA).
- UK-US Trade Talks: The UK and US are set to begin trade talks, with the UK seeking to strike a new trade deal with the US.
Other News
- Brexit: The UK has delayed its exit from the European Union until October 31, 2019, amid ongoing uncertainty and negotiations.
- Iran-US Tensions: Tensions between the US and Iran remain high, with the US imposing new sanctions on Iran and Iran threatening to retaliate.
- Global Economic Outlook: The International Monetary Fund (IMF) has cut its global economic growth forecast, citing the ongoing trade tensions and Brexit uncertainty.
These are just some of the latest Forex news updates. Remember to always stay informed and up-to-date with the latest market news and analysis to make informed trading decisions.