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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European stock markets were trading broadly higher as reports indicated that the spread of the coronavirus in Asia may be dwindling.
The Pound Sterling remains near to 2020 lows as FX traders ponder the possible outcomes of the UK-EU trade relationship once the transition period has expired.
Global traders remained cautiously optimistic about the containment of the coronavirus despite the continually rising death toll on mainland China.
In London trading, the Pound Sterling continues to be pressured by a firmer greenback and earlier touched a 2½ month trough against the Dollar.
According to recent data, Chinese inflation hit its highest level in 8 years, at 5.4 percent in January after being at 4.9 percent in the previous month.
Sunday saw a record 97 deaths due to coronavirus on mainland China, but that didn’t stop employers from opening their doors after weeks of keeping workers at home.
As market players await news from the US Labor Department on January's private sector new jobs, the US Dollar moved higher against the Japanese Yen and approached a 2-week peak.
The Chinese government's pledge to ensure that the economy remains stable in the fall out of the Coronavirus outbreak there has helped to push the Aussie Dollar higher for the fourth consecutive day.
German factory orders fell unexpectedly signaling that the recession that made the economic growth to hit its lowest level since 2013 is far from over.
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The Chinese government announced on Thursday that it will cut tariffs against more than 1700 US goods in half, in order to comply with what was agreed in "phase 1" of the trade deal.
An unexpectedly improved reading of the UK's January PMI for the services sector helped to boost the Pound Sterling during London trading on Wednesday.
IHS Markit recently released its services and composite PMI data for the Eurozone. The data shows a firm but slower expansion in the Eurozone services sector
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Sign up to get the latest market updates and free signals directly to your inbox.A record 65 people died in China from the coronavirus on Tuesday, but that didn’t send traders flocking towards safe haven assets as they had in the earlier days
Earlier today, upbeat data had helped to push the Pound higher, though analysts believe that it just a knee-jerk reaction.
IHS Markit's UK Construction PMI went up to 48.4 last month, after being at 44.4 in December, showing a slower pace of contraction and a recovering sector.