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.
Market News
Market News
FX traders had been awaiting the release of UK growth data to judge the likely timing of a rate hike from the Bank of England. Expectations were high that the data wouldn’t at least be flat, and not show any slippage.
While all eyes are focused on the FOMC policy meeting scheduled to begin Wednesday morning and the Bank of Japan meeting on Friday, Japanese stocks turned southwards Tuesday while JPY strength gained against the dollar and commodities, especially crude and copper slumped worldwide.
The US Dollar Index edged away from its recently struck 2½ month peak; however losses were tempered by rising risk appetite.
Will they or won’t they? This is still the question being bandied about with regard to a Federal Reserve interest rate hike.
It is going to be an important week for 3 currencies: the USD, the NZD and the JPY. Get the economic and political calendar for the popular currencies for the week of October 26, 2015.
The dollar bounced back somewhat Friday as dovish signals from the European Central Bank and the rate cut by the People’s Bank of China lifted the US currency and rescuing it before it sank to its lowest price range.
Thursdays signal by ECB President Mario Draghi that the central bank is prepared to undertake another large stimulus package to tackle the lackluster growth seen in the euro zone advanced stocks on most global markets.
Commodity linked currencies continue to be the week’s biggest movers. The Canadian Dollar moved near to an 11-year trough against the greenback following the recent elections for Prime Minister and the lowering of growth forecasts by the Bank of Canada.
China’s slight recovery Thursday hasn’t done much to alleviate Asian investors’ worries. Asian Stocks came in with a mixed performance for the day with small-caps on the mainland attracting the strongest buying interest.
The recent rout in Asian equities negatively impacted growth currencies, including the Aussie and Kiwi Dollars.
Asian shares were mixed on Wednesday as investors remained cautious ahead of the European Central Bank's policy meeting later in the week. Export data was generally weak while Japan's markets was hoping to reach new highs for the month.
The Euro backed off its recent 10-day trough versus the US Dollar as FX traders ponder the latest less dovish words from ECB officials.
The low Australian dollar and ultra-low official interest rates seem to be helping Australia’s economy adjust to the end of the resources boom.
The Euro remained close to a 10-day trough versus the US Dollar as investors ponder a looming policy meeting for the European central Bank.
News out of China continues to fluctuate wildly. Reports out Monday showed that the GDP of world's second-biggest economy cooled less than expected. Other monthly indicators released in tandem with the GDP data hinted at enduring weakness in the economy.