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.
Market News
Market News
Oil prices broke their three-day losing streak on Monday morning despite continued overdemand and increasing production in the United States.
The highly-anticipated U.S. Federal Reserve policy meeting is set to begin tomorrow, and traders are shifting their focus this week to the outcome of the meeting after focusing mostly on the U.K. elections over the weekend.
There are several high-impact news items scheduled this week, with a much fuller agenda compared to last week.
Lower oil prices had earlier put pressure on the Canadian Dollar; however, upbeat comments from the Governor of the Bank of Canada helped to temper losses.
Traders of the Pound Sterling are concerned over the possibility of big swings as the general election process continues over the next several hours.
Standard & Poor’s cut its long-term rating of Qatar by one level on Wednesday, from AA to AA- and put the country’s rating on CreditWatch with negative implications, indicating a good possibility of a further downgrade.
The US Dollar was broadly lower as investors take the cautious route as they await the outcome of a Thursday which could have market-jarring potential.
Bitcoin, perhaps the most famous cryptocurrency to date, has enjoyed more than a doubling in price this year, even after last week’s reversal that wiped off nearly $4billion of the currency’s value.
The Pound Sterling touched on its highest price in two weeks versus the US Dollar as expectations of a Conservative party win in Thursday’s general elections begin to gather momentum.
Asian markets traded mixed on Tuesday as traders showed concern about escalating tensions with Qatar and angst about upcoming news events.
The Pound Sterling remains under heavy pressure, with sentiment eroding in the wake of the most recent terror attack in London and the upcoming general election.
Both Brent crude futures and U.S. WTI future were broadly higher during Monday’s Asian session as Saudi Arabia, Egypt, Bahrain and the United Arab Emirates broke ties with Qatar on fears that Doha’s connections to terrorism would cause issues of national security.
There are again relatively few high-impact news items scheduled this week, compared to last week. However, very important central bank input is due from the European Central Bank, as well as from the Reserve Bank of Australia.
The US Dollar touched on a 1-week peak versus the Japanese Yen as investors away Friday’s release of the government’s private sector labor report.
The Aussie Dollar was put under some pressure after the release of China’s PMI results show an unexpected shrinkage in manufacturing activity last month.