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 U.S. Dollar firmed versus major currencies today due to lower crude oil prices. Crude oil prices fell by almost $10 from a recent record high even though crude oil inventories fell sharply, and renewed tension in the Middle East. However, investors are concerned about further credit market upheaval following stock market losses in Europe and the United States.
The surface to surface missile test by Iran did not significantly impact the U.S. Currency as expected by analysts, due to the tension sin the region. The Euro edged higher to $1.5723 compared to $1.5748, while the U.S. Dollar dropped just above 107 Yen, compared to 107.53 earlier.
The U.S. Dollar gained against the Japanese yen on Monday because stocks in the U.S. recouped some losses even though renewed concerns that some financial institutions will be compelled to write down additional mortgage related assets. However, the U.S. Dollar eased versus the Euro as concerns over the decline in crude oil prices waned and the unexpected decline in the Euro-zone investor morale. The Japanese Yen closed at 107.18, down .3% in late New York trading, and the Euro closed at $1.5720, up .1% in late New York trading.
The U.S. Dollar edged up slightly against major currencies as investors speculate that statements made by officials of the G8 could cause oil prices to fall. The Dollar also benefited from better than expected U.S. job data and reduced expectations that the European Central Bank will further increase interest rates after last week’s increase of 25 basis points.
The U.S. Dollar dropped further against the Euro today in response to statement made by the Federal Reserve after the FOMC meeting, which suggests that the Federal Reserve may not aggressively hike interest rates towards year end. The FOMC decided to keep its benchmark rate unchanged at 2%, while acknowledging the presence of inflationary pressures in the economy.
Investors are waiting for the outcome of the FOMC meeting and the accompanying statement to assess the direction of interest rates. Consequently, the U.S. dollar traded in tight ranges in Tokyo on Wednesday against major currencies.
The U.S. Dollar traded mixed today against major currencies as the market’s attention is squarely fixed on the Federal Open Market Committee (FOMC) meeting, which will take place tomorrow.
The U.S. Dollar traded within narrow ranges against major currencies on Friday in Tokyo as investors are waiting for new leads prior to the release of the U.S. economic data today and the Federal Open Market Committee (FOMC) meeting which starts next week, Tuesday.
The U.S. Dollar again fell slightly against major currencies in mid-morning trading today in Sydney as investors’ are beginning to feel that the Federal Reserve will not hike interest rates this year.
In mid-morning trading today in Sydney, the U.S. Dollar traded mixed against major currencies as the tussle continues with respect to which of the central banks, i.e. the U.S. Federal Reserve or the European Central Bank, will aggressively fight inflation. Investors in the currency market remain divided on the short term direction of the U.S. currency following expectations that the central banks are not likely to hike rates in the near term.
The U.S. currency traded in narrow ranges on Tuesday against major currencies as investors’ expectations that the Federal Reserve Bank will hike interest rates soon started to wane. It appears that the recent weak U.S. economic data is influencing the Fed’s decisions to hike interest rates. Many analysts believe that the market has to scale back its expectations of any aggressive interest rate hike by the Fed in the months ahead.
The U.S. Dollar fell against the Euro in mid-afternoon trading in Asia because investors are speculating that the European Central Bank will increase its key interest rate next month, the first increase in a year. The market is anticipating that the ECB will hike its interest rate by 25 basis points or more, following comments made by ECB president, Jean-Claude Trichet, since July, to curb rising inflationary pressures in the Euro zone.
The U.S. Dollar fell against the Euro in mid-afternoon trading in Asia because investors are speculating that the European Central Bank will increase its key interest rate next month, the first increase in a year. The market is anticipating that the ECB will hike its interest rate by 25 basis points or more, following comments made by ECB president, Jean-Claude Trichet, since July, to curb rising inflationary pressures in the Euro zone.
In mid-morning trading in Sydney, the U.S. Dollar dropped slightly ahead of today’s release of the U.S. Consumer Price Index data for May. According to experts, the Consumer Price Index data will confirm foreign exchange traders’ view that interest rates will be hiked by the Federal Reserve before the year end.
The U.S. Dollar weakened against major currencies on Thursday in mid-morning trading in Sydney as traders reacted to a sharp decline on Wall Street on renewed worries about the U.S. economy and the rising oil prices.
