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Daily Forex News
Daily Forex News
The Aussie Dollar took the lead among the major currencies after the Reserve Bank of Australia left interest rates unchanged.
Monday saw market rallies across the globe with both the S&P 500 and Dow Jones Industrial Average both closing up near 1.8 percent and European stocks recovering 3 percent.
The US Dollar had been broadly lower during European trading following Friday’s dismal labor report.
The Greek populace has landed Alexis Tsipras back in the Prime Minister’s office but things aren’t going to return to normal till the country has taken control of past debts that have placed it in jeopardy to begin with.
This is going to be a busy and important week, with crucial Central Bank data coming for the USD, the British Pound, the Japanese Yen and the Australian Dollar. Get the economic and political calendar for the week of October 5, 2015 here.
FXCM, a leading online provider of foreign exchange trading is back in the headlines again. It announced Thursday that it was the victim of a criminal cybersecurity incident involving unauthorized access to customer information.
The Euro came under pressure as expectations have grown that the European Central Bank may be compelled to enlarge its Quantitative Easing scheme.
Asian manufacturing reports released today show both China’s and Japan’s PMI’s coming in at lower numbers.
The Euro tumbled broadly as preliminary inflation data which moved into negative territory sent investors elsewhere on growing speculation that the European Central Bank will now be compelled to ease further.
There hasn’t been a worse quarter in the financial markets since 2011. Analysts are seeing the third quarter of 2015 as the combination of traumatic events that hit the world’s two largest economies.
Safe haven demand helped to push the Swiss Franc and the Japanese Yen higher while commodity currencies such as the Australian and Canadian Dollars were sent lower after Oil prices fell.
In its fourth cut since the beginning of the year, India's central bank cut interest rates by a more-than-expected 50 basis points. The Reserve Bank of India reduced its key repo rate to 6.75%, more than market expectations of 7%.
This week is going to be almost entirely focused on the USD, as crucial non-Farm Payrolls related data will be released towards the end of the week. In fact there is at least one high-impact event concerning the USD every day this week.
European shares rose on Friday with the pan-European FTSEurofirst 300 index, which had fallen 2.1 percent on Thursday, climbing back up 2.2 percent in early trading. The euro zone's blue-chip Euro STOXX 50 index also advanced 2 percent.
Janet Yellen set the ball rolling again. In a speech at the end of the market day at the University of Massachusetts, the Federal Reserve chair said that an interest-rate hike would probably be appropriate "sometime later this year" but cautioned that the decision still depends on economic data.