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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On December 21st, Azerbaijan’ central bank relinquished control of its exchange rate sending the manat down to its weakest on record. The move followed the country’s decision to abandon the currency peg as oil prices slumped to the lowest in 11 years.
Economic data released in Japan over the Western holiday period has reinforced expectations that the Bank of Japan will make additional moves towards expanding its stimulus program in 2016.
Asian stocks moved into positive territory on Tuesday, throwing off early losses as Chinese shares rose a day after marking their biggest loss in a month and crude prices took back some lost ground. Japanese and South Korean markets erased morning losses and the Australian market totted up a more than 1 percent gain.
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Asian equities traded mixed on the first day of the final trading week for 2015. Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows.
There are no practically no major news events scheduled for this week at all, with only three on the calendar: two concerning the USD and one concerning China. Get the economic and political calendar for the popular currencies for the week of December 28, 2015 here.
The number of Americans filing for unemployment benefits dropped more than expected last week, nearing a 42-year low as labor market conditions continued to tighten in a boost to the economy.
European stocks closed flat in shortened trading on Thursday. Oil prices remained choppy while other European energy stocks stayed up. Statoil shares closed around 5.2 percent higher after a judge ruled that the Norwegian company did not breach a contract it had with New York-listed Diamond Offshore Drilling.
As the Christmas holidays approach, financial and FX markets are slowing to a crawl. Most of the major currencies, including the US Dollar, the Japanese Yen and the Euro are seeing relatively light trading.
Asian shares climbed to 2-1/2-week highs in thin trading on Thursday ahead of the Christmas holiday in the wake of gains on Wall Street and a recovery in crude oil prices but turned mixed overnight dragged by a sell-off on the mainland.
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The US Dollar edged higher despite the latest economic data which surprised with some disappointments.
Asia shares edged higher on Wednesday in quiet trade following a slight uptick on Wall Street, while the dollar slipped lower and oil prices rose after recent selling.
As investors pin their hopes on more movement from the People’s Bank of China to intervene in the Yuan’s strength, antipodean currencies were able to find some support.
Asian shares rose slightly on Tuesday, following Wall Street gains and seeing a certain amount of stability in crude oil prices before the Christmas holiday sets in.
Despite the outcome of Spain’s election which sent Mariano Rajoy, the Prime Minister, back into the seat of power, the Euro was able to hold its own.
Chinese shares led Asian markets higher on Monday while the price of Brent crude plummeted to 11-year lows on renewed worries over a global oil glut.