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 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.
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.
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.
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The S&P 500 closed last week with the strongest gains in five years, even as markets wavered after Special Counsel Robert Mueller issued an indictment for 13 Russian nationals and three Russian companies that are believed to have participated in a scheme to interfere with the results of last year’s U.S. presidential election on behalf of Donald Trump.
This week will see a very light news agenda, with little major central bank input, and a few data items of importance concerning primarily the U.K.
The US Dollar Index held near to a 3-year trough during Asian trading on Friday and is set to record the largest 1-week loss since May.
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Sign up to get the latest market updates and free signals directly to your inbox.The Pound Sterling edged higher against the US Dollar and cemented recent gains as FX traders await next week’s earnings data to provide some fresh momentum.
Saudi Arabian Energy Minister Khalid al-Falih said on Wednesday that OPEC countries will be better served to keep the oil market tight than to abandon its production cuts.
Asian stocks headed higher on Thursday, after Wall Street’s surge on Wednesday despite inflation data that indicated more interest rate hikes are looming.