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 yen zoomed in early trade on Thursday in anticipation of a possible sales tax hike in Japan and the upcoming decision by Federal Reserve chief Janet Yellen about an interest rate hike in the U.S.
The Euro edged higher against the US Dollar and the British Pound today after finance ministers from the Eurozone approved the release of €10.3 billion to the Greek government in recognition of their efforts to drive through a difficult austerity program.
U.S. new-home sales posted their strongest month in more than eight years with prices jumping to a record level, an indication of growing confidence in the economy's prospects.
Though lower now, the Japanese Yen had been able to retain recent gains, having been propped up by FX trader’s risk adverse sentiment after another decline in the price of crude oil.
Reserve Bank Governor Glenn Stevens defended the central bank’s inflation targeting, voicing intentions of remaining vigilant against the risks of continued low interest rates.
The Pound Sterling firmed against the US Dollar in Monday’s trading in Europe after seeing a 1% rise last week.
After rebounding over the weekend, the U.S. dollar took a step backwards against most of its major counterparts Monday with traders factoring in the probability that the Federal Reserve will raise interest rates next month.
Not much was decided at the 2-day G7 meeting of finance ministers and central bank governors in Sendai over the weekend.
This week can be expected to be less active than the previous week, with Central Bank input due concerning only the Canadian Dollar on Wednesday, although the New Zealand government will be releasing its annual budget on Thursday.
Bonuses & Promotions
The G7 financial leaders will be meeting in Japan’s Sendai this weekend to discuss currency volatility and methods required in revitalizing leading economies.
There’s growing certainty that the Federal Reserve Bank is likely to boost interest rates within the next quarter.
Several economic reports are due out today. The first one out should be the monthly update on British retail spending. So far, despite warnings of possible negative repercussions if the UK quits the EU, so far there hasn’t been any sign of a Brexit fallout in the labor market data for April.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.The minutes from the April FOMC meeting are out and not everyone is pleased with the content. The minutes increased the likelihood of an interest rate hike, sending the dollar higher Thursday and confusing Asian markets.
The Pound Sterling advanced against the common currency Euro and struck a 2½ week peak earlier today after the latest UK poll showed a 44% lead in favor of remaining within the European Union.
Speculation is heating up before the 2 p.m. release of the minutes from the last FMOC meeting. Both equity and bond markets reacted strongly Tuesday in anticipation of the hawkish Fed report.