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 Canadian dollar rallied Wednesday, snapping a record losing streak, as the nation’s central bank kept interest rates unchanged in the face of sinking oil prices.
Safe haven demand soared during Wednesday’s trade after another rout in oil prices sent investors fleeing to safety.
Asian stocks slid Wednesday, with major indexes declining by more than 1 percent each as an attempted rally on Wall Street failed to take off on concerns of lower oil prices, economic growth and China.
Safe haven appetite fell earlier today on the news that China’s economy grew in Q4 of 2015 (on an annual basis) which met analysts’ expectations.
Asian equities bounced back in afternoon trade after reacting to the release of key Chinese data that were mostly in line with expectations.
The recovery in the world’s equity markets, albeit a minimal recovery, helped push the US Dollar higher versus several safe haven currencies.
It was a bad start to another week in the markets. Asian shares slid to their lowest levels since 2011 on Monday amid weak U.S. economic data and a massive fall in oil prices that fueled further worries about a global economic downturn.
U.S. stocks plummeted Friday after reports of disappointing U.S. data added to the plunge in oil to below $30 a barrel and the sell-off in Chinese stocks which pointed to mounting concerns about the country’s slowdown.
This coming week ahead is quite likely to see continued strong movement, with a greater volume of news scheduled. Get the economic and political calendar for the popular currencies for the week of January 18, 2016 here.
Bonuses & Promotions
Tsai Ing-wen rode a tide of discontent over everything from China ties to economic growth to become the island’s first female president and secure a historic legislative majority for her Democratic Progressive Party.
Major Asian stock markets were mixed overnight as they gave up some of their early morning gains Friday.
The plunge in oil prices has continued to weigh heavily on commodity-linked assets. Earlier today, the Canadian Dollar dipped versus the US Dollar to its lowest price in 13 years.
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The Aussie and New Zealand Dollars were provided with a solid boost after trade data from China came in with an unexpected yet welcome surprise.
Asia shares turned upwards Wednesday, with markets closing mostly higher and some major indexes rebounding. It was the first positive sign of stability amidst lingering worries about China and falling commodity prices and follows an unstable start to the year.