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.
Most Recent
With commodity prices beginning to stabilize, the Euro has been holding tight to recent gains during Asian trade.
In early trading in Tokyo, the common currency edged higher against the U.S. Dollar, off a 3-week low, supported by early indications of some restabilization in the commodities markets.
Following last week’s steep fall, the common currency Euro bounced in early Asian trading, rising against the U.S. Dollar and Japanese Yen.
Top Forex Brokers
With investors speculating that the Reserve Bank of Australia is likely to raise interest rates sooner than later given a higher inflation forecast, the Australian Dollar rose against the U.S. Dollar.
Ahead of today’s meeting of the European Central Bank’s rate setting committee, the common currency Euro has been rising toward a 17-month peak against the U.S. Dollar in Asian trade.
Unexpectedly weak data from the U.K.’s manufacturing sector pushes back the likelihood of an interest rate hike sending the Pound Sterling broadly lower in Asian trading.
With the euphoria over the news of the al-Qaeda leader’s death now beginning to wane, the U.S. Dollar is hovering close to the 3-year low struck last week.
A quick look at how the currency fluctuated when Saddam Hussein was captured in 2003 should be indicative of what we can expect to see from the floundering U.S. Dollar in light of bin Laden’s death.
The greenback continues to lose ground against major currencies, with the U.S. dollar Index holding close to a 3-year low in Asian trading, and likely to see the biggest weekly drop since mid-January.
Bonuses & Promotions
Following yesterday’s press conference held by Ben Bernanke, the chairman of the U.S. Federal Reserve Bank, who fielded questions on the likely direction of the U.S. economy, the U.S. Dollar slipped to new multi-year lows against major currencies.
In Asian trading today, the U.S. Dollar slipped broadly lower as markets ponder the likely outcome of today’s Federal Open Market Committee Meeting.
The common currency Euro slipped slightly against the U.S. Dollar in Asian trading today as Jean-Claude Trichet, the head of the European Central Bank, noted that he shares the same view as other central bankers that the a U.S. Dollar is in the best interest of the United States economy.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.Despite the continued chance of debt restructuring in Greece which threatens to wreak havoc on the regional economy, the Euro rallied to a 16-month high against the US dollar as speculation increased that the ECB will continue to raise interest rates this year.
The U.S. Dollar Index remains hovered close to a 3-year low in light Asian trade, underpinned by the likelihood of prolonged low interest rates and a growing U.S. budget deficit.
Whetted investor risk appetite has pushed the U.S. Dollar Index to its lowest point in 3 years, and analysts expect that further decline in the index is likely.