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 week started off in negative territory as the yen reported wide losses on Monday and the euro struggled for support after the Bank of Japan adopted negative interest rates on Friday, increasing expectations that the European Central bank will ease policy too.
The coming week ahead is likely to be quite similar to last week in terms of the volume and likely impact of due data. Get the economic and political calendar for the popular currencies for the week of February 1, 2016 here.
The talks between Athens and the heads of international lending institutions are expected to start on Monday, a source in the Greek Finance Ministry announced on Saturday.
The Bank of Japan introduced a negative interest rate policy in order to achieve a price stability target of 2 percent at the earliest possible time.
The jump in oil prices to above $33 per barrel helped to lift commodity-linked currency pairs which included the Aussie and Kiwi Dollars, as well as the Canadian Loonie.
The Federal Reserve ended Wednesday’s FOMC meeting with interest rates unchanged but with hints that a March hike may be imminent. After weeks of sharp swings in the markets, the decision left investors anxious and uncertain what to do.
The Australian Dollar touched on a 3-week peak against the US Dollar.
The Federal Reserve is expected to leave interest rates unchanged on Wednesday and with the U.S. economy moving towards negative territory, chances of a March rate hike are slowly waning.
Safe haven demand rose in Tuesday’s trading after yet another rout in oil prices sent investors fleeing away from commodity linked currencies.
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.
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.
