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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Despite the July 4th Independence Day holiday that will keep U.S. trading subdued this week, traders are actively eyeing the U.S. oil inventories with the hope that signs of reduced supply will finally buoy prices.
There are some very high-impact news items scheduled this week, primarily affecting the U.S. Dollar which is the most important currency in the Forex market.
The Canadian Dollar touched a 5-month peak versus the US Dollar yesterday, in part due to a rise in oil prices, but also because of higher domestic yields.
The Pound Sterling edged higher against the US Dollar, trading at a 5-week peak above $1.30, as investors take comfort in the hawkish outlook of several of the Bank of England’s voting members.
It feels like the end of a 10-year long financial era of easy money is upon us, as another central bank yesterday seemed to indicate tighter monetary policy going forward.
The common currency Euro struck a 7-month peak versus the Pound Sterling after the President of the European Central Bank suggested that the Quantitative Easing program would be reduced.
U.S. Republican Senators delayed the long-awaited healthcare bill vote on Tuesday causing Wall Street to close broadly lower and sending ripples of nervousness throughout the global stock markets on Wednesday morning.
The Euro hit a 1-week peak versus the US Dollar after Mario Draghi, the head of the European Central Bank, talked of a recovering economy in the Eurozone and said that inflationary factors were primarily transient and thus could be dismissed.
Digital currency Ethereum, considered by many to be the biggest rival to Bitcoin, sunk more than 20 percent during Monday’s trading session after suffering an extremely volatile week last week.
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The Dollar is edging broadly higher as some interest is being piqued and helping the greenback to recover from earlier lows.
The dollar started the last week of June slightly on the defensive as a U.S. bond yields were limited by an adjusted inflation outlook and questions began circulating, once again, about the Federal Reserve’s plans to tighten economic policy.
There are very few high-impact news items scheduled this week, with a sparse agenda like last week. Volatility should be expected to remain very low.
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The Pound Sterling was under some pressure in London trading on Thursday after the Bank of England’s Monetary Policy Committee (MPC) left investors uncertain of Britain’s economic outlook.
Oil prices fell more than 2 percent overnight to fresh ten-month lows on Wednesday night, even after the U.S. Energy Information Administration (EIA) announced that inventories had fallen more than expected, and oil prices continued to feel the pressure on Thursday morning.