Forex Top Story


The U.S. dollar moved slightly higher in the Asian session on Wednesday, recovering from losses in the previous session, but gave up gains in the European session before rebounding into positive territory later on in the day.

new home sales2 062321 A report released by the Commerce Department on Wednesday unexpectedly showed another steep drop in new home sales in the U.S. in the month of May. The Commerce Department said new home sales tumbled by 5.9 percent to an annual rate of 769,000 in May after plunging by 7.8 percent to a downwardly revised rate of 817,000 in April.

eurozoneservices july 23jun21 The euro area private sector grew at the fastest rate in 15 years in June as the economy re-opened further from virus-fighting restrictions, flash survey data from IHS Markit showed on Wednesday. At 59.2, the flash composite output index reached its highest level since June 2006, up from 57.1 in May. The reading was also above economists' forecast of 58.8.

ukpmi aug03 23jun21 The UK private sector logged one of the fastest expansion on record in June as there were marked increases in output across the manufacturing and services sectors as the economy continued to reopen, following the COVID-19 lockdown, a closely watched survey showed Wednesday. The flash composite output index dropped to 61.7 in June from 62.9 in May, data compiled by IHS Markit revealed.

previewimage aug03 23jun21 Flash Purchasing Managers' survey results are due from major euro area economies on Wednesday, headlining a light day for the European economic news. At 3.15 am ET, France flash Purchasing Managers' survey data is due. The composite output index is seen rising to 59.0 in June from 57.0 in May.

After exhibiting strength against most of its peers in the Asian session, the U.S. dollar turned a bit easy against a few major currencies on Tuesday as traders digested Fed Chair Jerome Powell's Congressional testimony.

existing home sales 062221 After reporting sharp decreases in U.S. existing home sales over the three previous months, the National Association of Realtors released a report on Tuesday showing existing home sales saw further downside in the month of May.

jerome powell 112818 22jun21 Federal Reserve Chair Jerome Powell is scheduled to appear before the House Select Subcommittee on the Coronavirus Crisis later Tuesday to discuss the central bank's response to the pandemic. In prepared remarks, Powell noted the economy has shown sustained improvement since he last appeared before the committee.

ukpublicfinancedata july19 22jun21 The UK budget deficit narrowed more-than-expected in May from the last year as the government receipts increased amid falling expenditure amid buoyant economic recovery, data from the Office for National Statistics showed on Tuesday. Public sector net borrowing decreased to GBP 24.33 billion in May from GBP 43.76 billion in the previous year. The deficit was also below the economists' forecast.

preview oct03 22jun21 Public sector finances data from the UK is due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK government borrowing data for May. Economists forecast the budget deficit to fall to GBP 26.1 billion in May from GBP 31.7 billion in April.

The U.S. dollar retreated from two month highs and posted losses against its major rivals on Monday after a couple of Federal Reserve officials said more progress is needed before Fed should start to scale back some of its economic support.

china flag 041317 21jun21 China kept its benchmark lending rates unchanged, as widely expected, on Monday. The one-year loan prime rate was maintained at 3.85 percent and the five-year loan prime rate was retained at 4.65 percent. The one-year and five-year loan prime rates were last lowered in April 2020.

The U.S. dollar turned in another fine performance, gaining significant ground against its major rivals on Friday, as it continued to benefit from a hawkish policy outlook from the Federal Reserve.

uk aug15 18jun21 UK retail sales dropped in May as the reopening of all retail sectors and the easing of hospitality restrictions reduced food store sales, data from the Office for National Statistics revealed on Friday. Retail sales dropped 1.4 percent month-on-month in May, reversing a 9.2 percent rise in April and confounding expectations for an increase of 1.6 percent.

boj 031617 18jun21 The Bank of Japan maintained its massive monetary stimulus and announced the introduction of a new funding programme to support the efforts on climate change issues and also extended the deadline for Covid support programme. The board, governed by Haruhiko Kuroda, on Tuesday, voted 7-1, with 1 abstention, to hold the interest rate at -0.1 percent.

Follow RTT