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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The United Kingdom's gross domestic product gained 0.4 percent in October, slowing down from the previous month's 1.1 percent and remaining in line with expectations.
The appearance of a persistent long-term trend in the U.S. Dollar breaking to new lows is something traders should take note of. Several facts about the U.S. Dollar tend to be underappreciated within the Forex community:
Last-Ditch Talks Ongoing Between E.U./U.K.; NASDAQ Drops Sharply; Bank of Canada Leaves Monetary Policy Unchanged.
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The pound sterling rose higher against the greenback after a string of weak days as the Prime Minister meets with the head of the European Commission in a list-ditch effort to sign off on a Brexit agreement.
Treasury Secretary Steven Mnuchin announced that he discussed a $916 billion stimulus plan with House Speaker Nancy Pelosi.
U.S. Stock Indices Hit Record Highs; Risky Assets Advance Against Greenback; Commodity & European Currencies Bounce Back.
With only a few weeks left before the Brexit transition deadline, Forex traders are hopeful that the Prime Minister's meeting in Brussels will yield a positive outcome.
France's National Institute of Statistics and Economic Studies recently reported that non-farm payrolls for the third quarter stood at 1.6 percent, lower than the previous quarter's 1.8 percent.
Pound & Euro Volatility on Trade Deal Headlines; Stocks Dip Slightly; EUR Remains Strong.
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A case of nerves sent the pound sterling lower against the greenback, with the GBP/USD moving close to a 2 ½ week trough.
German industrial production surged in October after gaining 3.2 percent (month-on-month).
S&P 500, Nikkei 225, KOSPI Hit All-Time Highs; U.S. Dollar Trends Weaker; EUR, AUD, and NZD Hit 2-Year Highs.
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The common currency is on track to record its best week in the past month, moving past key resistance levels as FX traders count on further declines in the greenback.
While the pound sterling held above the $1.34 level as a result of weakness in the greenback, derivative markets suggest that market players have serious doubts regarding a Brexit deal occurring before the end-of-year deadline.
IHS Markit’s final Service Purchasing Managers’ Index (PMI) for Germany signaled a contraction in the services sector, mostly linked to the second lockdown that the government implemented to stop the spread of COVID-19.