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No foreign exchange trader can ignore the importance of news to foreign exchange markets volatility. Geopolitical developments, peace or conflict situations, financial and economic data releases such as macroeconomic figures, and natural disasters all can have a significant impact on forex markets. The highly dynamic, foreign exchange markets need to keep tracking news developments.

Pay close attention to the timing and importance of this news impact, or you will find that this news is already " yesterday news."

07 February, 2023

Bloomberg L.P.
Japan stepped into the foreign exchange market three times in total last year, according to a fuller picture of the government’s latest intervention strategy to counter the yen’s historic fall.
One World, Inc., a cutting-edge software company with a focus on professional and educational market trading technology, today announces the launch of their new product, Forex Business in a Box.
Boosted by the hawkish RBA tone, AUD/USD rose sharply and was last seen rising 0.7% on the day at around 0.6930. EUR/USD extended its slide and came within a touching distance of 1.0710 before recovering modestly.
The currency pair has completed a wave of decline to 1.0709. Today a consolidation range may form above this level. A link of growth to 1.0757 and a decline to 1.0699 should follow. After this level is reached, a link of correction to 1.0791 is not excluded, followed by a decline to 1.0642. The goal is local. The currency pair has completed a wave of decline to 1.2005. At the moment, a consolidation range has formed above this level. Today the market may extend the range to 1.2060. Then a decline to 1.1988 is not excluded. And then a link of correction to 1.2100 may be expected. After the correction is over, a link of decline to 1.1945 should happen. The currency pair has completed a wave of growth to 0.9289. Today the market is forming a link of decline to 0.9257. Then growth to 0.9300 should follow. Next, a link of correction to 0.9240 is not excluded. After the correction is over, growth should continue to 0.9370, from where the wave might extend to 0.9400. The currency pair has completed a structure of decline to 0.6855. Today a correction to 0.6966 should follow. Then a decline to 0.6860 might happen. And with a breakaway of this level, a pathway down to 0.6777 should follow. Brent has completed a wave of decline to 79.00. Today a wave of growth to 84.00 may follow. Then we should expect a correction to 81.40 and growth to 88.88. The goal is first. Gold has completed a structure of a declining wave to 1859.77. Today a link of growth to 1882.82 should follow. Then we expect a decline to 1855.55 and a correction to 1888.88. After the correction will be over, the wave of decline should continue to 1820.00. The stock index has completed an impulse of decline to 4095.0. Today a link of correction to 4131.0 is expected. After the correction will be over, a decline to 4080.0 might follow. And with a breakaway of this level, a pathway down to 3980.0 should open. The goal is local. EUR/USD is consolidating gains near 1.0750 in the early European morning. The main currency pair is capitalizing on a broad-based US Dollar retreat, in the face of sluggish Treasury bond yields and a mild risk-on market profile. ECB commentary and Powell's speech eyed. GBP/USD is trading close to 1.2050, preserving gains ahead of the London Open. The upbeat market mood and renewed Brexit optimism boes well for the Pound Sterling while the US Dollar retreats with Treasury yields ahead of Fed Chair Powell's speech. Gold price (XAU/USD) is facing pressures in recovery extension above the critical resistance of $1,875.00 in the Asian session. The precious metal has sensed selling interest as the US Dollar Index (DXY) has attempted a recovery after correcting to near 103.10. In the US, financial conditions have eased in recent months and weighed on the effectiveness of the Fed’s policy tightening. Jerome Powell recently gave the impression of not being too concerned, so markets rallied. Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
The dollar eased on Tuesday after its rally the previous day, but still hovered near a one-month peak as traders raised their bets on how high the U.S. Federal Reserve would need to raise interest rates to tame inflation.
At the end of the year, QCM received an award at the Le Fonti Awards Global — one of the world's leading business ceremonies organized by a major news broadcasting agency with a focus on economics, finance, law and infotainment. The company received a trophy as the best trading platform in Australia, outperforming the competitors in terms of the trading experience and user friendliness.
Reuters on
The dollar's recent comeback may not be indicative of a new broad trend, with FX strategists in a Reuters poll split on the greenback's path in the next few months, suggesting volatility will dominate currency markets in the short run.
China's foreign exchange reserves rose more than expected in January, official data showed on Tuesday, as the dollar fell against other major currencies. The country's foreign exchange reserves - the world's largest - rose $56.8 billion to $3.184 trillion last month, compared with $3.152 trillion tipped by a Reuters poll of analysts and $3.128 trillion in December. The yuan rose 2.2% against the dollar in Jan., while the dollar last month fell 1.4% against a basket of other major currencies.
Emerging market currencies are expected to drift higher in coming months thanks to improved global growth prospects, boosted in part by the reopening of China's economy, a Reuters poll of 40 foreign exchange strategists found.
The Star on
MELAKA: Actor Ikmal Amry's elder brother claims he had fallen prey to unscrupulous forex trading after his profit amounting to about RM3.7mil went missing from his online transaction account.

How to interpret data

We should only focus on high impact news that has the potential to generate big Forex moves, and it is key for you to know which data is important like:

  • Interest rate decision
  • Retail sales
  • Inflation (consumer price or producer price)
  • Unemployment
  • Industrial production
  • Business sentiment surveys
  • Consumer confidence surveys
  • Trade balance
  • Manufacturing sector surveys

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