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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After falling to a nearly 18-month low against the yen earlier in the week, the dollar's Friday gain snapped a five- day losing streak.
This week can be expected to be a fairly busy and significant one, with an unusual announcement due from the Federal Reserve, and regular monthly Central Bank input concerning the British Pound and Canadian Dollar.
The Japanese yen surged for the fifth-straight day on Thursday, strengthening by as much as 1.7% to 107.92 against the dollar and hitting the strongest level since October 19, 2014 — right before the Bank of Japan shocked the markets by boosting its quantitative-easing program.
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Once again, the Japanese Yen and the US Dollar have taken control of the spotlight in the FX market. The safe haven Yen continues to be the currency of choice for investors uncertain of the future of the global economy.
The U.S. dollar hovered around 109 yen in Tokyo on Thursday morning, as Federal Reserve policy meeting minutes dulled expectations of an early U.S. interest rate hike.
The US Dollar was trading near to a 17-month trough versus the Japanese Yen after Shinzo Abe, Japan’s Prime Minister, hinted that the Bank of Japan’s intervention in the Yen’s rise might not be as evident as it appears.
China’s stocks rose for a fifth straight day on Wednesday, led by consumer and energy companies and following a report pointing to increased evidence of a stabilizing economy.
The Japanese Yen earlier hit a 17-month peak versus the US Dollar after yet another decline in oil prices sent FX traders rushing into the proverbial arms of safe-haven assets.
Watergate was a major political scandal that occurred in the United States in the 1970s but it pales in the face of the latest global financial outrage.
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Despite an upbeat labor report last Friday, the US Dollar continues to be under some heavy pressure as market expectations of a rate hike in this calendar year wane.
The Federal Reserve may have left interest rates steady last week, but the central banks of several Asian countries are due to make key policy decisions during the coming week.
Last week’s speech by Janet Yellen determined the course of the major price movements within the Forex market, which in the end were against the U.S. Dollar. This week has a fuller schedule of releases, so we can expect a more volatile week.
The Non-Farm Payroll numbers reported on Friday showed a growth of 215,000 workers over the last month following a gain of 245,000 in February.
Non-farm payroll numbers are due out today and they should meet Fed expectations.
The US Dollar’s slide has finally subsided after hitting a 7-week trough versus the common currency Euro.