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 Federal Reserve’s Federal Open Market Committee announced on Wednesday that it would leave monetary policy unchanged in order to give the U.S. economy time to improve; the statement also cited a too high unemployment rate.
The U.S. Dollar Index continued to hold close to a 2-month low as investors gauge that the Federal Reserve’s response to lackluster economic data will either be a recommitment of its existing ultra-loose monetary policy or the promise of even more stimulus.
The U.S. Dollar Index held close to a 2-week trough earlier as investors anticipate that a decline in U.S. Treasury bond yields and a slowdown in consumer inflation rates could pressure the Federal Open Market Committee to act more aggressively.
Unexpectedly disappointing growth data from the U.S. on Friday led to the greenback’s broad fall during the Asian trading session. According to the report issued by the U.S. Bureau of Economic Analysis, growth during the first quarter of 2013 rose only to 2.5% against expectations of a rise to 3.0% annually.
The U.S. Dollar was trading near to a 4-year peak versus the Japanese yen following unexpectedly strong jobless claims data eased investors’ concerns over the global economic slowdown.
The price of gold is rising again slightly as demand for the metal spiked following the shocking selloffs in recent days. Though gold recently hit its lowest price in over two years, buys are slowly showing signs of life, capitalizing on the low costs and helping gold prices stabilize once again.
The Euro held steady and close to a 2-week trough against the U.S. Dollar during the Asian trading session after unexpectedly dismal economic news from Germany, the Eurozone’s key economic driver, fueled speculation that the European Central Bank will follow through on their promise to cut interest rates.
The Japanese Yen gained broadly during the Asian trading session after a disappointment from China’s manufacturing sector gave investors yet another reason to consider a downturn in global economic health.
At the beginning of a new trading week, the Japanese Yen once again finds itself under pressure against the U.S. Dollar to hit the 100.00 level which has been eluding the USD/JPY pair for many weeks.
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On the final trading day of the week in Asia both the Euro and the Japanese Yen steadied earlier after experiencing major movements earlier in the week which have played havoc on commodity linked currencies; the Australian Dollar is poised to suffer a large weekly drop as a result having already fallen nearly 2% against the greenback this week.
The Japanese Yen edged off session highs during choppy trade in the Asian trading session as risk on sentiment improved. The Japanese currency had initially been given a broad boost when gold prices took another dive but later gave back some of its gain after commodity prices steadied.
The Japanese Yen edged lower against the greenback during the Asian trading session following the halt to the steep fall in gold prices which occurred during the early part of the trading week.
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Sign up to get the latest market updates and free signals directly to your inbox.The Japanese Yen struck a 2-week peak against the U.S. Dollar as investors sought the safe haven currency in the wake of disappointing economic news from China which resulted in a fall in commodity prices; a pair of deadly explosions at the Boston marathon also put a dent in risk sentiment.
The U.S. Dollar slipped versus the Japanese Yen during Monday’s Asian trading session after the release of a report which said that the U.S. would ensure that the Japanese government through its central bank did not intentionally allow its currency to depreciate.
Despite the unrelenting sell-off of the Japanese Yen, market players are still finding that the 100.00 Yen price level for the USD/JPY pair is elusive.