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.
Most Recent
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.
The Norwegian central bank surprised markets with a rate cut earlier today in an effort to jumpstart growth there. With oil exports as a key industry in the Scandinavian country, Norway’s economy has been feeling the pinch of the recent oil price slump.
The news of late has been focused primarily on the Federal Reserve and its decision to leave interest rates at zero for the time being. China has also been in the headlines as a major cause of global turmoil and wild market fluctuations.
Though China’s dismal PMI readings made headlines across markets, PMI data is coming out elsewhere in the world and impacting currency markets
The US Dollar Index touched a near 2-week peak after the head of the Atlanta branch of the Federal Reserve Bank, said that he believed a rate hike was still on track for the last quarter of 2015.
World markets started off the week mixed. Wall Street rebounded somewhat and Asian markets advanced slightly.
Bonuses & Promotions
As the divergence among the world’s central banks has been halted, at least for the time being, the beneficiary is the US Dollar.
Who would have believed it? Alexis Tsipris, Greece’s former head of state has proven his worth by returning his Syriza Party back into power.
The Fed failed to raise interest rates at its last meeting and the outlook for a future hike by the end of this year seems dim as well.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.The Federal Reserve held firm yesterday, keeping the interest rate that has been in place since 2006 in tack.
Even as the world’s financial markets await a policy decision from the US Federal Reserve Bank, arguably the most important central bank on the globe, other central banks continue to grind on.
By the end of the day, the world will be different. Global economies will have to be readjusted and markets will fluctuate accordingly.