Start Trading Now Get Started
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Markets Await Fed and Bank of Canada

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Two central bank meetings today at the US Federal Reserve and the Bank of Canada will be closely watched by the Forex market.

  1. Markets are awaiting central bank meetings at the US Federal Reserve and the Bank of Canada today. The Bank of Canada is widely expected to cut its Overnight Rate by 0.25% to a new rate of 3.00%. The US Federal Reserve is widely expected to leave its Federal Funds Rate unchanged at 4.50%, so markets will be paying more attention to the contents of the FOMC Statement and the following press conference. Depending on what is said and done, and on whether there is any further talk about US tariffs (especially tariffs which could be imposed on Canada), we could see volatility in the US Dollar and in the Canadian Dollar, which might put the USD/CAD currency pair in focus.
  2. Following Monday's shocking reveal that the Chinese AI tool DeepSeek seems to be as good as, or even better than, the American ChatGPT, which triggered a sharp selloff in American tech stocks, especially the AI sector, markets now seem to have digested the news and moved on, with global equities rising firmly over the past day, and the NASDAQ 100 and S&P 500 Indices making strong recoveries. DeepSeek does not seem to have done sustained significant damage to the American tech sector. NVIDIA, the worst-hit American AI company, also saw a recovery in its share price yesterday.
  3. Australian CPI (inflation) data released a few hours ago was marginally lower than expected in part. While the annualized rate rose from 2.3% to 2.5% as expected, the quarterly rate came in slightly lower than expected, which might slightly reduce pressure on the RBA to cut rates further in the near term.
  4. Yesterday saw President Trump threaten to impose new and relatively high tariffs on:
    1. Countries that pose security threats to the USA
    2. Computer chips
    3. Pharmaceuticals
    4. Steel
    5. Aluminum
    6. Copper
  5. There have not been any significant developments on this topic over the past day, but it retains the possibility to generate sudden news items which can move markets.
  6. In the Forex market, since todays Tokyo open, the British Pound has been the strongest major currency, while the Australian Dollar has been the weakest. However, the numbers are quite mall and not likely to mean much.
  7. Corn futures have regained value, and remain within a long-term bullish trend, despite not breaking to new highs in recent days.
  8. It is a public holiday in China today.

Ready to trade our daily Forex analysis? We’ve made a list of the best forex demo accounts worth trading with.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Most Visited Forex Broker Reviews