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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The dollar climbed during Wednesday’s Asian session following Tuesday’s comments from Richmond Federal Reserve President Jeffrey Lacker that solidified a strong possibility for an interest rate hike before the end of 2016.
The Pound Sterling fell against the US Dollar to its weakest price in 31 years as fears of the impending Brexit take its toll on the Pound.
The Euro continues to be under some pressure on concerns over the impact that the Deutsche Bank settlement could have on Germany, the largest economy in the Eurozone.
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There will be a much heavier and more serious news schedule this week compared to last week, with central bank inputs due from Australia and key Non-Farm Payrolls data due from the U.S. The week’s news will probably be dominated by U.S. economic data releases.
The US Dollar edged higher against the Japanese Yen after earlier moving near to a 1-month peak after investors’ sentiment soured.
In the first such deal since 2008, OPEC agreed on Wednesday to curb oil production in an effort to manage the market.
The US Dollar Index rose on Wednesday as the markets’ focus shifts to testimony from the chief of the Federal Reserve Bank, Janet Yellen.
Oil prices declined nearly 3 percent on Tuesday as Iran and Saudi Arabian delegates hinted that no compromise would be reached at this week’s OPEC meeting in Algiers.
New found worries over a “hard” exit from the EU has put the Pound Sterling under heavy pressure against the US Dollar.
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Hillary Clinton seems to have scored a big win on Monday night, both for her campaign and for the markets. A CNN poll indicated that following the debate 62 percent thought that Clinton won the debate and only 27 percent of people believed Trump emerged victorious.
The Japanese Yen continued to edge higher in Asian trading despite the Bank of Japan’s “threat” to meet inflation targets and the promise of more rate cuts into negative territory.
The trading frenzy that followed the Fed and BoJ announcements last week has cooled as Asian markets slumped in Monday’s session, on the heels of a negative session in the U.S. on Friday.
There will be a much lighter and less serious news schedule this week compared to last week, with no true central bank action inputs due at all. The week’s news will probably be dominated by U.S. economic data releases and also a key Manufacturing PMI number from China.
The US Dollar gained some ground against the Japanese Yen and the Euro during the Asian trading session but it is poised, nonetheless, to finish off the week with a loss.
The US Dollar struggled against the common currency Euro, Pound Sterling and Aussie Dollar after the Federal Reserve Bank failed to offer investors any real clarity regarding the timing of its next interest rate adjustment.