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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President-elect Donald Trump complained about the Dollar’s appreciation which helped to halt any potential gains.
Speaking from Caracas on Monday, OPEC Secretary-General Mohammed Barkindo predicted that oil prices would stabilize in 2017.
The US Dollar edged lower versus the Japanese Yen and hit a 6-week trough as investors’ wariness over the policy plans of the incoming Trump administration grows ahead of his inauguration.
The British pound fell to three-month lows during Monday’s Asian session in advance of Prime Minister Theresa May’s speech on Tuesday which she will likely use to present plans for a “hard Brexit”, which will include reclaiming control of the country’s borders.
There will be a considerably heavier news schedule this week, compared to last week which was very light.
US President-elect Trump’s first news conference in six months failed to yield anything of substance for pushed the US Dollar to a 5-week trough while sending investors to the safe haven Yen.
Despite confidence that President-elect Donald Trump’s news conference on Wednesday would send the dollar higher, his words had a converse effect, sending the greenback broadly lower after a notable rally prior to the conference.
The Pound Sterling remained close to a 10-week trough versus the US Dollar as market players ponder the possibility of a “hard” Brexit in which immigration controls are of paramount concern and single market access could be secondary.
Asian stock prices edged higher on Wednesday in anticipation of U.S. President-elect Donald Trump’s news conference, scheduled to be held later today, in which he is expected to outline his economic plan with greater detail and transparency.
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Ahead of the first “official” news conference to be held by the US President-elect, the US Dollar eased down for the second consecutive day on investor caution.
Friday’s wage report from the US Labor Department helped to send the US Dollar higher in European trading.
Oil prices dropped on Monday as Iranian exports undermined the efforts of OPEC oil producers to decrease production and to limit the global supply.
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The US Dollar Index is currently edging up but had earlier hit a 3-week trough after yesterday’s release of US economic data disappointed investors.
The Pound Sterling retreated against the US Dollar and hit a 2-week trough versus the Japanese Yen despite unexpectedly upbeat economic data which only helped to minimize the damage.