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 International Energy Agency (IEA) predicted on Tuesday that the United States will surpass Russia as the world’s biggest oil producer by sometime next year, if not sooner.
The Pound Sterling was hi9gher after one deputy governor of the Bank of England reinforced the markets’ view that a rate increase would soon be forthcoming.
Saudi Arabian oil minister Khalid al-Falih announced on Saturday that it would continue to restrict exports in support of OPEC’s production cuts, sending oil prices higher despite production increases in the United States.
This week will see a somewhat heavier news agenda, with some major central bank input from the U.S. Federal Reserve and the European Central Bank, and a few economic data items of importance concerning primarily the U.S.A.
While the US Dollar earlier skidded during Asian trading on Friday, the Japanese Yen edged higher as investors moved into the safe haven currency.
Official data released on Thursday showed that the UK’s economy is further behind in the global recovery process than originally thought, posing a challenge to the country as it prepares to leave the European Union and to become more economically independent.
The Pound Sterling held close to a 1-week trough versus the US Dollar as FX traders await data that would support a Bank of England rate hike in May.
Increased optimism and continued growth of the United States’ economy lead the majority of Federal Reserve members to call for fresh interest rate hikes on Wednesday.
The Pound Sterling fell to a 1-week trough versus the US Dollar after the latest economic data surprised markets.
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The dollar was higher against its primary trading partners on Wednesday as traders prepared themselves for announcements coming from the Federal Reserve’s latest policy meeting which took place near the end of January.
Oil prices were lower on Tuesday afternoon, weighed by profit taking and a marginally stronger dollar.
The Pound Sterling came under pressure after a US Dollar bounce, and because FX traders are waiting for a read on wage data which is due out on Wednesday.
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Sign up to get the latest market updates and free signals directly to your inbox.The dollar was higher against its primary trading partners on Tuesday morning as stocks indexes paused their wining streaks.
The U.S. dollar remained steady on Monday morning in London, supported by Friday’s reports that U.S. homebuilding surpassed a one-year high in January and that building permits hit levels not seen since 2007.
Oil prices hovered near two-week highs on Monday, buoyed by advances in Asian equity markets, though bears still expect pressure from the low dollar and increased U.S. production to weigh on prices in the coming days.