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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Greece seems to be walking on egg shells on its way to recovery. After months of heady negotiations that saw the country on the verge of bankruptcy and a near “Grexit,” Athens is making its moves cautiously.
This can be expected to be a busier week than recent weeks, with a lot more going on and more volatility. It will be an especially important week for the USD, the AUD, and the GBP, with key central bank input also due regarding the JPY.
The next major financial event seems to be taking place in the United Kingdom where talk of a “Brexit” has hit front page news.
The U.S. Dollar continued to gain positive momentum in the wake of the Federal Reserve’s latest policy decision.
The U.S. economy continues to improve with decreasing unemployment and improvement in the housing sector.
Markets have a way of switching gears almost overnight and that is what seems to be happening in Asia.
The US Dollar edged higher against the Japanese Yen as investors dismiss the recent rout in Chinese equities and as speculation grows that the U.S. could soon see a rise in interest rates.
The big question hanging in the air this week is whether or not the Fed will officially schedule a date for the interest rate increase which it has been predicting for the last few months.
The Euro had been gathering steam and had earlier struck a 2-week peak versus the US Dollar as traders awaited the release on German business sentiment. Germany, as the largest economy in the Euro area, essentially drives the remainder of the Eurozone and largely sets sentiment for the common currency.
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Financial markets usually slow down in the summer. But the coming week could provide some indication of how the rest of the quarter will pan out. The Federal Reserve's monetary policy decision will take center stage and along with the U.S. second-quarter growth report investors should have a better idea of what the rest of 2015 will look like.
There is very little data scheduled this week with the exception of the U.S. and Australian Dollars. Regarding the USD, this week will see the key monthly event in the Forex news calendar: the FOMC statement.
For those who doubted that renewed talks with Greece would move along smoothly, it came as no surprise that the first sang was hit on Friday.
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The Euro had edged above the $1.10 level on Thursday, as FX traders still consider abandoning ship on the US Dollar. In the past month, the US Dollar had surged nearly 5% against the Euro, but this week its positive momentum has faded, with analysts expressing some wariness that the year-long rally might be finally reaching the end of its course.
All that glitters is not gold these days as the precious metal hit its tenth straight day of losses Wednesday. Gold has had a steady decline over the last few weeks and has fallen to a new 5-year low of $1100 after a round of roller coaster rides that took it as high as $1160 an ounce and erasing half of the gains from a 12-year bull rally that ran from 1999 to a record high close of $2000 in September 2011.