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 world leaders that began their 2-day G20 meeting on Saturday focused their discussions on increasing international economic growth in their efforts to counter growing global dissatisfaction that has intensified since Britain's decision to leave the European Union.
There is a heavier news schedule this week, which includes input from central banks concerning the USD and JPY. Get the economic calendar for the week of July 25, 2016 here.
The yen bounced back to 105.88 yen per dollar from 107.49 Friday hovering above six-week lows after comments from Bank of Japan Governor Haruhiko Kuroda hinted that Japan may not be preparing a radical "helicopter money" economic stimulus as anticipated.
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Presently, the Japanese Yen is seeing some broad volatility and is finding support.
Nearly one month since the Brexit referendum vote shocked markets across the globe, the British pound has recovered one quarter of its post-referendum price and most major global stock markets, iincluding the FTSE are now higher than before the vote.
Sterling edged higher against the euro, and managed to recover earlier losses against a stronger US Dollar after a survey from the Bank of England showed no clear signs of a slowdown in the UK’s economic activity in the weeks following the June 23rd Brexit vote.
The dollar remained close to four-month highs against a basket of currencies Wednesday after giving up some of its recent gains against the yen, after Commerce Department data showed that U.S. housing starts surged 4.8 percent to a seasonally adjusted annual pace of 1.19 million units, suggesting at underlying strength in in the U.S. economy.
The Pound Sterling got no reprieve from the recent pressure, despite the latest economic news which showed June inflation date rising at both a year-on-year and month-on-month basis.
The New Zealand dollar once again took the limelight in early Asian trade Tuesday, with the kiwi dropping one percent after the Reserve Bank of New Zealand increased its efforts to impose new controls on a thriving housing market, driving up the possibility of a possible rate cut some time soon.
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Though markets tend to take the musings of Mark Carney, the head of the Bank of England, with a grain of salt, they seem to be putting a lot of weight behind one BoE member’s latest rhetoric.
The U.S. dollar gained on the yen on Monday as investors relaxed safe-haven trades in the wake of the failed coup in Turkey.
Markets are still focused on the better than expected U.S. data last Friday which pushed the major U.S. equity index to a weekly close at an all-time high. Markets are quite active so it is likely to be a good trading market this week. Get the economic calendar for the week of July 18, 2016 here.
The U.S. dollar responded immediately to the attempted military overthrow of the Turkish government on Friday by gaining as much as 5.5 percent against the Turkish lira and then settling at 4.72 percent by the end of the trading day.
The dollar rose to near a three-week high against the yen on Thursday and fell near a two-week low against sterling, on news of the surprise decision from the Bank of England to keep interest rates unchanged.
Markets were surprised today when the Bank of England announced that it would be keeping its Base Rate of 0.50% and Asset Purchase Facility of 375 billion pounds unchanged.