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.
Most Recent
The dollar remained close to four-month highs against a basket of currencies Wednesday after giving up some of its recent gains against the yen, after Commerce Department data showed that U.S. housing starts surged 4.8 percent to a seasonally adjusted annual pace of 1.19 million units, suggesting at underlying strength in in the U.S. economy.
The Pound Sterling got no reprieve from the recent pressure, despite the latest economic news which showed June inflation date rising at both a year-on-year and month-on-month basis.
The New Zealand dollar once again took the limelight in early Asian trade Tuesday, with the kiwi dropping one percent after the Reserve Bank of New Zealand increased its efforts to impose new controls on a thriving housing market, driving up the possibility of a possible rate cut some time soon.
Though markets tend to take the musings of Mark Carney, the head of the Bank of England, with a grain of salt, they seem to be putting a lot of weight behind one BoE member’s latest rhetoric.
The U.S. dollar gained on the yen on Monday as investors relaxed safe-haven trades in the wake of the failed coup in Turkey.
Markets are still focused on the better than expected U.S. data last Friday which pushed the major U.S. equity index to a weekly close at an all-time high. Markets are quite active so it is likely to be a good trading market this week. Get the economic calendar for the week of July 18, 2016 here.
The U.S. dollar responded immediately to the attempted military overthrow of the Turkish government on Friday by gaining as much as 5.5 percent against the Turkish lira and then settling at 4.72 percent by the end of the trading day.
The dollar rose to near a three-week high against the yen on Thursday and fell near a two-week low against sterling, on news of the surprise decision from the Bank of England to keep interest rates unchanged.
Markets were surprised today when the Bank of England announced that it would be keeping its Base Rate of 0.50% and Asset Purchase Facility of 375 billion pounds unchanged.
Bonuses & Promotions
The Japanese Yen was broadly lower on Thursday, pushed there by improved sentiment among global equity investors.
Theresa May became the second female Prime Minister of England Wednesday and promised to continue predecessor David Cameron's "true legacy" of social justice.
The Japanese Yen regained lost ground on Wednesday now that investors’ risk appetite has improved. The Yen had recently notched its largest 2-day decline in nearly 2 years, losing 4% versus the US Dollar, just since the beginning of the trading week.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.The pound rose as much as 0.7 percent to $1.333, the highest level since July 4, and was 0.5 percent stronger at $1.3313 as of 7:03 a.m. Wednesday in London.
The Pound Sterling edged higher after Theresa May was appointed as the heir apparent to David Cameron, the outgoing UK Prime Minister.
The yen continues to tumble, hitting a one-week low versus the dollar on Tuesday as gains in equity markets helped spur selling of the yen which had risen recently on safe haven demand after Britain's vote to leave the European Union added to worries over global growth.