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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In the early trading session in Asia, the US Dollar eased away from earlier highs against the Japanese Yen and looks to post a loss for the week as uncertainty grows regarding the Fed’s monetary policy.
The Japanese Yen managed to hold steady against the US Dollar in Tuesday trading and keeping the recent gains following yet another policy speech from a Bank of Japan official.
Oil prices soared more than 1.5 percent during Thursday’s Asian session after U.S. crude stocks dropped by 12.1 million barrels last week, according to data from the American Petroleum Institute.
The Pound Sterling was under some pressure but remained close to the recently struck 7-week peak versus the US Dollar as FX traders await Mark Carney’s testimony at the Inflation Report hearings for an indication of the timing on the next Bank of England interest rate cut.
Asian shares traded mixed during Wednesday’s session, following Tuesday’s reports from the U.S. Institute for Supply Management (ISM) that the non-manufacturing purchasing manager index (PMI) fell from 55.5 in July to 51.4 in August, its lowest point since 2010.
Among the major currencies traded, the Aussie Dollar was the day’s largest gainer as traders end their summer holidays.
In a widely expected announcement on Tuesday, the Reserve Bank of Australia announced its intention to keep its cash rate stable at 1.5 percent.
Crude oil prices have already see-sawed by 5.56% since Tokyo opened the week’s business some hours ago
There will be a somewhat heavier news schedule this week compared to last week, dominated by key central bank actions concerning the Euro, Canadian Dollar and the Australian Dollar.
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Friday’s slew of key U.S. economic data came in below consensus forecasts on all accounts.
The Japanese Yen moved higher against the US Dollar after a surprisingly dismal reading in August’s US manufacturing figures.
A bullish U.S. Dollar was beaten down yesterday following the release of unexpectedly poor ISM Manufacturing PMI data.
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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 both the US Dollar and the Euro on Thursday after the latest PMI Manufacturing reading was released.
The U.S. Dollar received a small temporary boost yesterday from the release of the monthly ADP Non-Farm Employment Change data showing that the U.S. had a net monthly change of 177,000 more people in employment, just slightly ahead of the consensus forecast which was 174,000.
Unexpectedly upbeat data helped to lift the Pound Sterling against the US Dollar and the Euro. Investors have been looking to data for clarification of an economy that is maintaining momentum in the wake of the June referendum to leave the E.U.