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.
The euro hovered near a three-week high on Friday as European Central Bank chief Mario Draghi released a bold easing package, cutting rates and expanding asset buys, at the same time undoing the very stimulus he hoped to achieve by suggesting there would be no further cuts.
With the European Central Bank’s policy announcement looming very shortly, the Euro continued to slide broadly as FX traders expect more policy adjustments.
Asian stocks posted gains for the first time this week while the euro weakened before an expected loosening of monetary policy by the European Central Bank. New Zealand’s Kiwi fell and its bonds jumped after a surprise interest-rate cut.
In a complete turnaround, New Zealand central bank Governor Graeme Wheeler introduced a quarter-point reduction in the official cash rate to a record-low 2.25 percent Thursday.
The safe haven currencies were once again in high demand from a risk-averse market as anxieties grow over the continual slump in the Chinese economy.
After reaching two-month highs, Asian stocks fell overnight and emerging-market currencies weakened as concerns about the state of the global economy restrained demand for riskier assets.
Safe haven currencies edged higher, especially versus the US Dollar and the Euro, after the release of disappointing data from China which reignited investors’ concerns.
The Australian and Canadian dollars reached unexpected highs early on Tuesday following a rally in commodity prices.
As FX investors await the latest policy announcement from the European Central Bank, expectations continue to grow.
Oil prices rose above $36 a barrel overnight as the number of active drilling rigs in the U.S. dropped to its lowest level in six years.
The coming week ahead is likely to produce a similar level of market interest to last week. Get the economic and political calendar for the popular currencies for the week of March 7, 2016 here.
Last week’s U.S. payroll data sent spot gold prices bouncing up and down Friday, ending the day flat at $1,258.71 down 0.02 percent.
The U.S. unemployment report is due out this morning and the figures look promising as far as inflation is concerned.
The Aussie Dollar earlier hit a 2-month peak as risk appetite continued to be strong in the FX markets.
Asian shares were up again for a third straight session of gains on Thursday as positive data on U.S. jobs and a rally in a range of commodities whetted risk appetites globally.
