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 rally continued Tuesday in major Asian markets but analysts are still uncertain that this is the end of the volatility that has rocked stock markets since the beginning of 2016.
China's currency hit its strongest level this year after the PBOC guided it sharply up Monday against a wave of uncertain global financial markets.
The coming week ahead is likely to be livelier than last week, as there is more key economic data due. Get the economic and political calendar for the popular currencies for the week of February 15, 2016 here.
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Global and local markets continued their stormy conditions last week with Federal Reserve Chair Janet Yellen’s speech before Congress standing out among the rest.
Bank of Japan Governor Haruhiko Kuroda met with Prime Minister Shinzo Abe Friday and discussed global economic and market developments.
Demand for the Japanese Yen was significantly higher during the Asian trading session which helped push the currency up 2% versus the greenback.
Federal Reserve Chairwoman Janet Yellen voiced uncertainty about future interest rate hikes citing legal issues that required additional clarity before calling for rate changes.
The US Dollar Index remained near to a multi-month low versus a weighted basket of peers as traders await the outcome of today’s Federal Reserve Bank policy meeting.
The loonie remained stable Tuesday despite a tumble in oil prices and reported some gains after the Canadian and U.S. bond yield spreads narrowed due to the softness of the USD which was being sold off in exchange for investors looking for safety and moving into the EUR, CHF and JPY.
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The Euro continues to underperform despite the recent demand as a carry trade currency.
The dollar fell briefly to 114.22 against the yen during Tuesday's Asian session before bouncing back above the 115 level.
After Friday’s labor report from the US, the greenback today is once again under some pressure.
The Chinese Year of the Monkey has started today, kicking off a week of public holidays in China during which all trading will be suspended.
The coming week ahead is likely to be much quieter compared to the turmoil and volatility we have seen over recent weeks, as the overall news release agenda is exceptionally thin. Get the economic and political calendar for the popular currencies for the week of February 8, 2016 here.
The U.S. dollar wavered Thursday in anticipation of the closely watched U.S. non-farm payroll report due out later in the day which could hint at the Federal Reserve's monetary policy outlook.