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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China’s stocks plunged to their lowest levels in 13 months amid continued concerns that capital outflows will accelerate as the economy slows and as support for the yuan depletes the nation’s foreign reserves.
Oil started the week with a rise in prices but gave up its gains Monday after Saudi Arabia said its ongoing investments in energy projects and diesel consumption in China had dropped for a fourth consecutive month.
Most European markets are expected to open higher Monday as investor sentiment was uplifted by a rebound in oil prices and a rally in Asian stocks overnight.
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The coming week ahead is likely to see further strong market movements, even more so than the relatively volatile week we have just had in the market. Get the economic and political calendar for the popular currencies for the week of January 25, 2016 here.
Oil prices plumbed new lows last week, dropping below $28 per barrel but came back with huge gains by the end of Friday’s session, rallying to above $30 per barrel.
As expected, the European Central Bank left interest rates unchanged on Thursday as concerns over of faltering global economic growth continued.
Given the equity market’s recent and sometimes extreme turbulence, many traders are betting that the European Central Bank will make the decision today not to rock the proverbial boat.
The Canadian dollar rallied Wednesday, snapping a record losing streak, as the nation’s central bank kept interest rates unchanged in the face of sinking oil prices.
Safe haven demand soared during Wednesday’s trade after another rout in oil prices sent investors fleeing to safety.
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Asian stocks slid Wednesday, with major indexes declining by more than 1 percent each as an attempted rally on Wall Street failed to take off on concerns of lower oil prices, economic growth and China.
Safe haven appetite fell earlier today on the news that China’s economy grew in Q4 of 2015 (on an annual basis) which met analysts’ expectations.
Asian equities bounced back in afternoon trade after reacting to the release of key Chinese data that were mostly in line with expectations.
The recovery in the world’s equity markets, albeit a minimal recovery, helped push the US Dollar higher versus several safe haven currencies.
It was a bad start to another week in the markets. Asian shares slid to their lowest levels since 2011 on Monday amid weak U.S. economic data and a massive fall in oil prices that fueled further worries about a global economic downturn.
U.S. stocks plummeted Friday after reports of disappointing U.S. data added to the plunge in oil to below $30 a barrel and the sell-off in Chinese stocks which pointed to mounting concerns about the country’s slowdown.