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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Greece was unable to reach a deal with the European Union to stay in an EU bailout program on Wednesday, Eurogroup President Jeroen Dijsselbloem said, noting talks will continue on Monday.
The situation in Greece, related to the modification of the latest debt bailout, has only become more confusing rather than clearer, and as a result FX traders have sold off their holdings in the Euro as they await a decision by EU leaders and Finance Ministers.
Asian stock markets were subdued on Wednesday while major currencies barely budged as looming euro zone meetings to discuss the Greek debt crisis overshadowed a firmer finish on Wall Street.
Commodity linked currencies gained support after investors’ expectations grew that the People’s Bank of China is on the verge of providing more economic stimulus.
Asian equities slipped on Tuesday as nervousness over Greece potentially withdrawing from the euro and escalating conflict in Ukraine sapped risk appetite, while the dollar lost steam after its payrolls-inspired rally.
Following last Friday’s dollar rally which came in the wake of a better than expected non-farms payroll report, the U.S. Dollar retreated in London trading as markets refocus their attention on Greece.
Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity program.
China registered its largest trade surplus on record last month as imports plunged on falling commodity prices and weak domestic demand.
The Euro recovered some of Wednesday’s losses which followed the European Central Bank’s announcement that it would not accept Greece’s sovereign bonds in exchange for funding.
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The European Central Bank adopted a hard line on Greece's debt Thursday, dealing a major blow to Athens' efforts to secure improved bailout terms with its creditors.
A rise in U.S. Treasury yields and speculation that economic data in the US is likely to be upbeat gave the U.S. Dollar Index the ability to recover from its recent hard fall, the largest single day loss in more than one year.
U.S. stocks rallied for a second day, rebounding from the biggest monthly drop in a year for the Standard & Poor’s 500 Index, as a surge in energy stocks spread to the broader market.
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Oil futures remained firm on Tuesday adding to gains of more than 11 percent in the prior two sessions, but persistent worries over China's demand outlook capped prices.
In London trading, the Swiss Franc struck a 2-week trough versus both the U.S. Dollar and the common currency Euro on speculation that the central bank might be intervening again to weaken the Swiss currency, and that the governing council of the Swiss National Bank had, in fact, determined a new “target” trading range.