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 Dow Jones Industrial Average gained nearly 300 points on Wednesday to close about 21,000 for the first time ever.
The US Dollar Index touched its highest price in 7-weeks earlier today on growing speculation that the Federal Reserve Bank might raise its benchmark lending rate this month.
In a statement on CNN on Tuesday, New York Fed President William Dudley noted that the case for monetary tightening has become “more compelling” since Trump and his Republican-dominated Congress came into power.
The Pound Sterling was trading just off the 2-week trough versus the US Dollar today, with the Pound under renewed pressure over concerns of a hard Brexit.
The Dow closed at record levels on Monday, marking 12 consecutive winning days, the longest streak since 1987.
The US Dollar was able to gain some traction against the Japanese Yen and pulled away from the recently struck 2 ½ week trough but remains under pressure generally ahead of President Trump’s policy address before the US Congress tomorrow.
Oil prices were broadly higher on Monday as global supply seems to be falling despite the rise in U.S. production.
The US Dollar managed to recover lost ground after falling to a 2-week trough versus the Japanese yen.
The Euro continues to be under heavy pressure from political uncertainty as the candidates jockey for position for French president.
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For the first time since early January, the EUR/USD fell below $1.05 on a combination of investors’ concerns.
The US Dollar slipped in Asian trade as FX traders await the FOMC minutes which will show the outlook of the Federal Reserve’s voting members and gauge the possible timing of the next rate increase.
The Pound Sterling edged higher against the common currency Euro but was under some pressure versus the US Dollar as market players await testimony by members of the Bank of England.
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Sign up to get the latest market updates and free signals directly to your inbox.The Euro is once again under pressure as political uncertainties surrounding the looming French presidential election impact investors’ sentiment.
The Euro gained ground versus the US Dollar in the wake of a weekend that included a relatively fruitless effort to pin down a presidential candidate for France’s leftist unity party.
Global markets remained relatively subdued on Monday in advance of President’s Day, a U.S. bank holiday that will keep markets closed.