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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It is going to be a crucial week for 3 currencies: the USD, the GBP and the AUD. All have Central Banks making their monthly reports and decisions. Get the economic calendar for the week of November 2, 2015 here.
Friday’s economic releases may throw a wrench in the Fed’s hawkish rate hike prediction issued after its last policy meeting Wednesday.
The Bank of Japan held off on expanding stimulus on Wednesday, even as slumping exports and falling oil prices threaten a hoped for steady growth.
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Earlier, the US Dollar had remained close to a 2½ month peak versus the common currency Euro as FX traders reconsider the likelihood of a 2015 rate hike from the Fed.
The Fed seems back on track again for an interest rate hike in December. At its policy meeting Wednesday, the central bank gave clear indication that the possibility of a rate hike by the end of 2015 is a strong one.
The global oil glut continues to plague oil prices, bringing them down to multi-week lows in a third straight session on Tuesday.
FX traders had been awaiting the release of UK growth data to judge the likely timing of a rate hike from the Bank of England. Expectations were high that the data wouldn’t at least be flat, and not show any slippage.
While all eyes are focused on the FOMC policy meeting scheduled to begin Wednesday morning and the Bank of Japan meeting on Friday, Japanese stocks turned southwards Tuesday while JPY strength gained against the dollar and commodities, especially crude and copper slumped worldwide.
The US Dollar Index edged away from its recently struck 2½ month peak; however losses were tempered by rising risk appetite.
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Will they or won’t they? This is still the question being bandied about with regard to a Federal Reserve interest rate hike.
It is going to be an important week for 3 currencies: the USD, the NZD and the JPY. Get the economic and political calendar for the popular currencies for the week of October 26, 2015.
The dollar bounced back somewhat Friday as dovish signals from the European Central Bank and the rate cut by the People’s Bank of China lifted the US currency and rescuing it before it sank to its lowest price range.
Thursdays signal by ECB President Mario Draghi that the central bank is prepared to undertake another large stimulus package to tackle the lackluster growth seen in the euro zone advanced stocks on most global markets.
Commodity linked currencies continue to be the week’s biggest movers. The Canadian Dollar moved near to an 11-year trough against the greenback following the recent elections for Prime Minister and the lowering of growth forecasts by the Bank of Canada.
China’s slight recovery Thursday hasn’t done much to alleviate Asian investors’ worries. Asian Stocks came in with a mixed performance for the day with small-caps on the mainland attracting the strongest buying interest.