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 Norwegian central bank surprised markets with a rate cut earlier today in an effort to jumpstart growth there. With oil exports as a key industry in the Scandinavian country, Norway’s economy has been feeling the pinch of the recent oil price slump.
The news of late has been focused primarily on the Federal Reserve and its decision to leave interest rates at zero for the time being. China has also been in the headlines as a major cause of global turmoil and wild market fluctuations.
Though China’s dismal PMI readings made headlines across markets, PMI data is coming out elsewhere in the world and impacting currency markets
The US Dollar Index touched a near 2-week peak after the head of the Atlanta branch of the Federal Reserve Bank, said that he believed a rate hike was still on track for the last quarter of 2015.
World markets started off the week mixed. Wall Street rebounded somewhat and Asian markets advanced slightly.
As the divergence among the world’s central banks has been halted, at least for the time being, the beneficiary is the US Dollar.
Who would have believed it? Alexis Tsipris, Greece’s former head of state has proven his worth by returning his Syriza Party back into power.
The Fed failed to raise interest rates at its last meeting and the outlook for a future hike by the end of this year seems dim as well.
The Federal Reserve held firm yesterday, keeping the interest rate that has been in place since 2006 in tack.
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Even as the world’s financial markets await a policy decision from the US Federal Reserve Bank, arguably the most important central bank on the globe, other central banks continue to grind on.
By the end of the day, the world will be different. Global economies will have to be readjusted and markets will fluctuate accordingly.
The US Dollar had edged broadly higher earlier, lifted by the rise in yields of US Treasury instruments
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The Japanese central bank earlier made the decision not to further stimulate the economy; Haruhiko Kuroda, the governor of the Bank of Japan, maintained a positive outlook on the country’s economic recovery.
Over the weekend, disappointing economic news from China came out which could weigh on antipodean currencies in the future as investors consider the far reaching impact of a slowdown.