Forex and Currency News

Singapore’s GDP grows 4.1% year-on-year in Q3

Singapore’s economy has grown at an annualized rate of 4.1% in the third quarter of 2024, preliminary data by Statistics Singapore showed. The figure followed a 2.9% YoY growth in the second quarter. In Q3, economic growth was mostly underpinned by a 6.6% expansion in Singapore’s goods producing industries. The manufacturing sector grew 7.5% YoY, […] Read more

China CPI inflation at 3-month low in September

Annual consumer price inflation in China has eased to 0.4% in September from 0.6% in August, the latest data by the National Bureau of Statistics of China showed. It has been the lowest inflation rate since June, which underscored the need for further policy support measures by the government to tackle deflation risks. Non-food costs […] Read more

UK economy expands 0.2% month-over-month in August

The UK economy has expanded at a monthly rate of 0.2% in August, after recording zero growth in the prior two months, data by the Office for National Statistics showed. The services sector grew 0.1% in August, supported by expansion in: – accounting, bookkeeping and auditing (+4.3% month-over-month); – scientific research and development (+2.8% month-over-month); […] Read more

Germany’s CPI inflation confirmed at 1.6% in September

Annual consumer price inflation in Germany has been confirmed at 1.6% in September, a final estimate by the Federal Statistical Office showed. It has been the lowest CPI inflation reading since February 2021. Energy costs plummeted 7.6% YoY in September after a 5.1% decline in August, while food prices went up 1.6% YoY after another […] Read more

South Africa mining production rises 0.3% YoY in August

Mining production in South Africa has expanded 0.3% year-on-year in August, while rebounding after a 1% drop in July, data by Statistics South Africa showed. It has been the first expansion in industrial activity in three months. Growth was mostly driven by higher production of chromium ore (+24.8% YoY), manganese ore (+16% YoY) and PGMs […] Read more

Norway CPI inflation picks up in September

Norway’s annual consumer price inflation has picked up to 3% in September from 2.6% in August, the latest data by Statistics Norway showed. Market consensus had pointed to a faster acceleration – to 3.2%. September’s rate has been the highest since May, as cost of housing and utilities surged 5.1% year-on-year, picking up from 2.3% […] Read more

NZD/USD falls to 7-week low as RBNZ delivers 50 bps rate cut

The New Zealand Dollar plunged to a fresh seven-week low against its US counterpart on Wednesday, after the Reserve Bank of New Zealand cut its official cash rate by 50 basis points to 4.75% at its October policy meeting, in line with market consensus. The RBNZ said in its statement that the decision aimed “to […] Read more

USD/CHF gains as focus sets on FOMC minutes, CPI data

The USD/CHF currency pair edged higher on Tuesday, as investors continued assessing the outlook for US interest rates in the wake of a strong employment report that drastically affected monetary easing expectations. Markets are now pricing in about an 86% chance of a 25 basis point rate cut at the Federal Reserve’s policy meeting in […] Read more

NZD/CAD up from 1-month low with RBNZ, Canada data in focus

The NZD/CAD currency pair was attempting a rebound from a one-month low of 0.8323 on Tuesday ahead of the outcome of the RBNZ’s policy meeting on October 9th and Canadian trade balance data. The Reserve Bank of New Zealand is expected to reduce its official cash rate by 50 basis points to 4.75%. It would […] Read more

NZD/USD slips to 1-month low ahead of RBNZ meeting outcome

The NZD/USD currency pair hovered just above a fresh one-month low of 0.6106 on Tuesday ahead of the outcome of the RBNZ’s policy meeting on October 9th. The Reserve Bank of New Zealand is expected to reduce its official cash rate by 50 basis points to 4.75%. It would extend the 25 basis point rate […] Read more