Forex News

Source: The Federal Reserve U.S consumer credit rose at an annual rate of 5.3% or $18.6 billion in April. The surge was fueled by strong trends in auto loans and students’ loans. DJI is down 0.36%, SPX is down 0.08%, DXY is up 0.18% Revolving credit, that includes credit cards declined 2.4%, after rising by 1.7% in March Non-revolving credit, consisting of student … [Read more...] about Consumer Borrowing Jumps 5.3% in April, a Third Consecutive Monthly Gain

This week, the EUR/USD will be in the spotlight as investors react to the upcoming EU GDP data, European Central Bank (ECB) decision, and the latest American inflation data. It is trading at 1.2166, almost unchanged from its close on Friday. ECB interest rate decision The ECB will start its monthly meeting on Wednesday and then publish its interest rate decision on … [Read more...] about EUR/USD Outlook Ahead of ECB Decision and US Inflation Data

Source: The Wall Street Journal. The growing interest in renewable energy has increased the demand for vegetable-oil supplies, leading to an increase in the prices of soybean oil. The Chicago Board of Trade has recorded a 70% increase in soybean-oil futures. The surge makes soybean oil one of the best-performing commodities over the year.The Department of … [Read more...] about Push for Renewable-Fuel triggers a Record High Surge in Soyoil Prices

Source: Bloomberg Exports from China grew 28% in May from the same month of last year on strong global demand. CSI 300 sheds 0.088% on news, USDCNY is up 0.04%.  China’s May exports represents a slower rate of growth from April’s record Imports surged at a rate of 51.1%, the fastest since March 2020 to enable China to record a $45.5 billion trade … [Read more...] about China’s Exports Jump 28% on Global Demand Amid Decline from April Record

The US dollar gained against the euro on improved employment rates in the US. Inflation rates in Europe are likely to breach the 2% ECB target. US crude oil inventories stand at 479.3 million barrels after a decline of 5.080 million barrels.  The EUR/USD traded at -0.63% on June 3, 2021, hitting a low of 1.2132 from the previous day, where it had closed at … [Read more...] about EUR/USD: The Euro Falls on Inflation Concerns Ahead of ECB Monetary Policy Meeting