Forex Top Story


eur-usd4-031918.jpg The dollar is losing ground against all of its major rivals Monday afternoon. Traders are in a cautious mood ahead of Wednesday's policy decision from the Federal Reserve. The Fed will kick off its 2-day meeting tomorrow morning and is widely expected to raise interest rates by 25 basis points. Traders...

yigang-pboc-031918.jpg China's legislature on Monday nominated Yi Gang, vice-governor of the People's Bank of China, as its new chief. Yi will replace Zhou Xiaochuan, who has been at the helm of the PBoC for 15 years. Zhou has headed the central bank during the turbulent period of the global financial crisis. At the annual session of the 13th National People's Congress, delegates voted to appoint Yi as PBoC governor.

cryptocurrency-dailyroundup-031918.jpg Cryptocurrency prices rebounded at the start of the week as sentiment improved after the G20 signaled that is it not planning to regulate cryptocurrencies for now as they do not pose considerable risk to financial stability. Separately, a central banker also expressed concern that regulation of cryptocurrencies must not stifle innovation.

britishchamberofcommerce-031918.jpg The British Chambers of Commerce raised its growth projections for both this year and next citing strong consumer spending driven by a pick-up in pay growth. The UK economy is forecast to grow 1.4 percent this year instead of 1.1 percent projected earlier. The outlook for 2019 was lifted to 1.5 percent from 1.3 percent. The lobby forecast 1.6 percent expansion for 2020.

EUR-USD4-031618.jpg The dollar took a hit Friday morning due to political uncertainty, following reports that President Donald Trump plans to remove national security adviser H.R. McMaster. However, the buck has bounced back following the release of some better than expected economic data. New residential construction...

MAS-RaviMenon-Bitcoin-031618.jpg Central banks and regulators are finding it a challenge to regulate cryptocurrencies, but they must be careful that innovation is not stifled in their eagerness to rein in these new tokens, Monetary Authority of Singapore Managing Director Ravi Menon said.

Bitcoin-IndiaRegulations-031618.jpg Cryptocurrency exchanges in India have witnessed a deep fall in trading on bitcoin this year, a new report says. India's prominent finance daily, the Economic Times, reported the gloomy picture of the country's cryptocurrency market Friday, quoting Mohit Kalra, Chief Executive of bitcoin exchange Coinsecure. He says the volume of trade across all crypto exchanges in India has reduced.

Consumer-031618.jpg A preliminary report released by the University of Michigan on Friday showed an unexpected improvement in U.S. consumer sentiment in the month of March. The preliminary reading on the consumer sentiment index for March came in at 102.0, up from the final February reading of 99.7.

Industrialproduction-US031618.jpg After reporting a modest decrease in U.S. industrial production in the previous month, the Federal Reserve released a report on Friday showing a substantial rebound in production in the month of February. The Fed said industrial production surged up by 1.1 percent.

Housingstarts-US-031618.jpg New residential construction in the U.S. showed a sharp pullback in the month of February, according to a report released by the Commerce Department on Friday. The report said housing starts plunged by 7.0 percent to an annual rate of 1.236 million in February.

cryptocurrency-dailyroundup-031618.jpg Finance ministers and central bank governors from across the world are heading to the Argentine capital Buenos Aires this weekend to discuss their main concerns regarding the financial system and cryptocurrency regulation is set to be on top of the agenda. Elsewhere, cryptocurrency mining is apparently under attack from several sides as miners are set to face higher electricity charges.

NYPSC-bitcoinmining-031618.jpg Cryptocurrency mining in upstate New York is going to be expensive as authorities are now allowed to charge higher electricity rates on such businesses, so as to avoid raising costs for other customers. The New York State Public Service Commission Thursday ruled that upstate municipal power authorities could charge higher electricity rates to cryptocurrency mining companies.

G20-2018-Crypto-031618.jpg The Group of Twenty (G20) finance ministers and central bank governors are set to discuss next week an international regulatory framework to bring cross-border Cryptocurrency operations under unified control. The meeting in Argentine capital Buenos Aires will focus on the policies needed to protect the global economic upswing against downside risks, and to finalize much-needed reforms.

EUR-USD3-031518.jpg The dollar is rising against its major European rivals Thursday afternoon, following the release of a slew of economic reports this morning. Traders have also reacted positively to the news that President Donald Trump has appointed financial television commentator Larry Kudlow as his top economic adviser,...

NAHBHousingndex-031518.jpg Homebuilder confidence in the U.S. saw a modest decrease in the month of March, according to a report released by the National Association of Home Builders on Thursday. The report said the NAHB/Wells Fargo Housing Market Index edged down to 70 in March from a revised 71 in February.

Follow RTT