The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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U.S. WTI futures were down 9.09 percent as of 1:24 p.m. HKSIN to $15.40 per barrel and Brent crude futures were down 2.75 percent to $20.85 per barrel even as talks resumed in most countries about when and how to reopen their economies, a move which should, and could, increase demand for oil.
The US Dollar is poised to record its best weekly outcome later today as the falling price of oil weighed heavily on currencies that are commodity-linked.
The Pound Sterling unexpectedly moved higher after the latest economic news showed the UK economy at a worse state than had been expected.
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Recently the German Chancellor, Angela Merkel said that we are still at the beginning of the pandemic and that the WHO is an indispensable partner for Germany.
For the second consecutive day, the GBP/USD pair is trying to recover from its recent losses.
April 23: WTI Crude Oil has continued to recover after trading at a low just above $6 per barrel two days ago, As riskier assets bounce back while the U.S. Dollar weakens slightly.
South Korea's economy posted its worst contraction since the 2008 financial crisis, and analysts worry that the worst is yet to come.
The Pound Sterling moved higher during Wednesday trade in London with bargain hunters giving it a buy given its cheap price after it struck a 2-week trough on Tuesday.
The European Central Bank's President Christine Lagarde made clear that the role of the Bank is limited in terms of facing the current economic slowdown.
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Brent crude futures fell as much as 13 percent in the Asian afternoon on Wednesday as the market continued to struggle with high levels of oversupply
Market news for April 22: Currency markets are currently dominated by relative strength in the Japanese Yen, while the British Pound looks likely to be the weakest currency today.
The greenback edged broadly higher during London trade on Tuesday as FX traders sought out the currency as a safe haven after yet another rout in oil prices.
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The Minneapolis Federal Reserve claimed on a report that the economic restrictions associated with the coronavirus outbreak could be twice as though as it should be.
In market news for April 21: crude oil futures go south yesterday, and lack of demand for oil continues due to the coronavirus pandemic.
U.S. crude oil futures dipped into negative territory for the first time in history on Monday afternoon.