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
Profit taking cut into the US Dollar’s recent gains, driving it to its largest drop this month. The fall came despite widespread expectations that the Federal Reserve is possibly on the brink of a rate hike.
While interest rates in the U.S. are predicted to go up any day now, rates in Australia could be moving in the opposite direction. After cutting the benchmark interest rate twice this year to a record-low of 2 percent, Reserve Bank of Australia (RBA) Governor Glenn Stevens said that additional cuts may be in the forecast.
Investors’ speculation is growing once again, with expectations high that the United States Federal Reserve Bank is moving closer to hiking interest rates. James Bullard, the president of the St. Louis branch of the Fed, said yesterday that the Fed might even consider a September rate increase.
In what seems like a strange turn of events, the Greek government found the money to repay the roughly 2 billion euros ($2.2 billion) it owed to the International Monetary (IMF).
Among the world’s major currencies, the New Zealand Dollar, or Kiwi as it’s called among traders, was the primary mover. That came after New Zealand’s Prime Minister said that he was concerned about the scope of the Kiwi Dollar’s recent decline.
It hasn’t been too difficult to bet on the price of gold of late with prices dropping steadily over the last few years. But Monday’s plunge took the metal lower than even the analysts had anticipated.
It looks as if this week will be quieter than recent weeks, which much less on the agenda and with a lot of industry participants beginning to leave on summer holidays. It would not be surprising if the market begins some kind of lull now as we go into August.
The deal between Greece and the Eurozone may have been signed last week, but without the official okay of the Germany parliament, no monies would be forthcoming.
It looks like Greece has come out the victor after months of hanging on a thin thread and Athens will once again be rescued by its Eurogroup partners.
Bonuses & Promotions
There are still great doubts that the Greek government will live up to its end of the bailout bargain.
Greek lawmakers have approved the bailout agreement that will keep the country in the euro for now, but more decisive moves are still up in the air.
The spotlight today has swung away from Europe and passed back to the North American continent, with the U.S. Federal Reserve and the Bank of Canada each having had important things to say over recent hours.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.A surprise uptick in Chinese GDP sent the Aussie Dollar higher against its US counterpart, rising very close to a 2-week peak.
Despite a deal between Greece and six of its Eurogroup members, the country’s future is still in doubt. China’s stock markets are having a roller coaster ride and traders are uncertain of where they will land.
Oil prices plunged in the wake of an agreement between major world leaders and the Iranian government which provides Iran with the lifting of certain earlier imposed sanctions.