Author: Forex24News

The Australian unemployment rate jump is a significant development in the Asia-Pacific session on Thursday. The session saw a divergence in market performance, with Wall Street’s positive lead lifting regional equities, despite troubling economic data from Australia. The overnight lead from New York was constructive, with softer yields and easing oil prices contributing to a positive tone in US equities. However, the KOSPI in South Korea surged more than 7% after Samsung Electronics reached a wage agreement, while Japan’s Nikkei added nearly 3.5%. In contrast, Chinese markets lagged, with the mainland up only around half a percent. Economic Data and…

South Korea will launch 24-hour dollar-won spot trading from July 6, with a trial period beginning June 29. This initiative is part of a broader foreign exchange liberalisation aimed at securing an MSCI developed market upgrade. The Ministry of Economy and Finance announced that this will be the first time around-the-clock trading of the dollar-won spot market is allowed. The trial period will provide market participants a week to test systems and build liquidity before the official rollout. Trading will run continuously from 6:00am Monday to 6:00am Saturday in Seoul time, adjusting to 7:00am starts during US winter time. This…

Euro area economic activity fell at its quickest pace in over two years in May, primarily due to weakened demand conditions and rising cost pressures. France notably contributed to this decline among major economies. The manufacturing index reached a three-month low, while the services index hit a 63-month low. The composite index also fell to a 31-month low, indicating a high likelihood of economic contraction in the euro area during the second quarter. Impact on business sectors New business in the services sector experienced its sharpest decline in a year and a half. Manufacturing conditions are deteriorating as the initial…

Citi has forecast that Brent crude will rise to $120 per barrel in the near term. Furthermore, the bank warns that oil markets are materially under-pricing current risks. Specifically, traders are ignoring the danger of a prolonged supply disruption. This threat stems directly from the ongoing closure of the Strait of Hormuz. According to a research note published on Tuesday, Citi considers these broader tail risks significant. The bank’s base case relies on current market positioning data. Currently, this data does not adequately reflect the possibility of extended supply disruptions. With Brent trading around $110-$111, reaching $120 represents an 8%…

FXIFY, the first broker-backed prop firm, is marking its third anniversary. During this period, the company paid out more than $40 million to traders. Furthermore, it currently boasts a global base of over 250,000 active users. Notably, FXIFY delivered its highest single payout at an impressive $117,000. David Bhidey, Co-Founder of FXIFY, strongly emphasized the firm’s core vision. He stated: “We didn’t guess what traders needed; we listened and built.” Consequently, this approach led to a range of innovative products and platforms. The team created these tools based directly on user feedback. Therefore, from day one, FXIFY set itself apart…

Bank of America Securities (BofA) has downgraded its end-2026 forecast for the US Dollar/Japanese Yen exchange rate to 152 from a previous estimate of 157. This change reflects an upgrade in BofA’s yen view to neutral from bearish, citing improving structural flow dynamics despite ongoing softness towards the USD/JPY level of 160 per dollar. The shift is significant as it comes from one of the market’s prominent yen bears and signals a meaningful adjustment in stance. According to their research note, BofA identified three specific catalysts that could push them into an outright bullish position: Catalysts for Yen Bull Turn…

The EU has struck a provisional agreement with the United States. This pact paves the way for duty cuts on American goods before President Trump’s July 4 deadline. The deal aims to prevent higher tariffs on European products. It will also reduce trade tensions. Key Provisions of the EU-US Trade Deal On Wednesday, the European Parliament and Council of the EU reached a provisional agreement. This step finalizes the legislation needed to implement the landmark Turnberry trade deal with the US. The agreement allows the bloc to remove import duties on US industrial goods. Meanwhile, it grants better market access…

IG Group Hits Record High on 11% Jump IG Group shares (LSE: IGG) closed at a record high of 1,742 pence on Tuesday, marking an almost 11% increase from the previous day. This significant rally was driven by the broker’s full-year revenue guidance upgrade and its strong first-quarter performance reported during the annual general meeting trading update. The company’s organic total revenue for the three months to March 31st reached £331.2 million, surpassing the £300 million forecasted in a pre-close note two months earlier. Active customers grew by 12%, first trades increased by 63%, and assets under administration surpassed £20…

Some footballers are remembered for far more than the trophies they have lifted. Over time, they become the very identity of their clubs. As one of the most iconic figures in English Premier League history, John Terry is undoubtedly one of those rare names. He is forever etched in the minds of supporters through the famous phrase, “Captain, Leader, Legend.” Today, the former defender has hung up his boots. However, he is now bringing his trademark leadership to an entirely new and dynamic arena. Specifically, his recent shift into the global business world shows a brilliant evolution. Dedication to a…

Every new trader must thoroughly understand what is swap to manage their account effectively. You face this specific cost when you hold a live market position overnight. Financial markets define this cost as the exact interest rate difference between two traded currencies. Brokers calculate this precise amount every day at exactly 5 PM EST. Successful professionals always incorporate these overnight interest rates into their active trading plans. Because knowing what is swap directly dictates your long-term overall profitability today. Large institutional hedge funds use this exact mechanism to generate steady daily income. They generate solid profits from the yield difference…