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.
Market News
Market News
As the Federal Reserve's policy-setting committee wraps up its third meeting of the year, it is still not clear to anyone when and if it will raise interest rates.
The Euro was pushed close to a 3-week high against its main rival, the US Dollar, as investors pinned their hopes that Greece was on the verge of securing new funds to avoid default.
Asian stocks pulled back from a seven-year peak scaled on Tuesday as sentiment gave way to caution ahead of the Federal Reserve's policy two-day meeting scheduled to start later in the session.
Last week’s disappointing economic data from the US forced the US Dollar lower where it has finally steadied. The Dollar has now been under pressure for nearly seven weeks as investors ponder the likelihood of a Fed interest rate move, which put an end to the greenback’s long-term buoyancy.
Greece appeared no closer to a reforms-for-aid deal after the country's finance minister met with his euro zone counterparts on Friday.
This week can be expected to be more active than last week, with the primary focus certain to fall upon the US Federal Reserve followed by the Bank of Japan and the Royal Bank of New Zealand the following day, as all will be releasing major policy statements and announcing interest rates.
With focus on a May 6 interest repayment to the International Monetary Fund and the next Eurogroup meeting on May 11 in Brussels, Greece has a number of funding hurdles to clear before then and beyond.
Driven by a lack of selling, Japanese yields fell below zero for the first time since January. Two-year yields fell one basis point to minus 0.015 percent following the central bank’s move to purchase 520 billion yen in debt.
After comments from an official of the New Zealand Reserve Bank which hinted at consideration for lower interest rates, the Kiwi Dollar skidded nearly 1.5% against its US rival during the Asian and European sessions.
Deutsche Bank will post a profit in the first quarter despite litigation costs of 1.5 billion euros ($1.61 billion), Germany's largest lender said on Wednesday.
Australia’s consumer price index climbed 1.3 percent in the first quarter from a year ago, while it rose 0.2 percent from the previous three months, exceeding a 0.1 percent forecast.
As worries grow that the Greek nation could soon default on its current debt and, with bankruptcy, perhaps be compelled to exit the Eurozone area, the Euro has continued to weaken against its major peers.
Speaking during a question and answer session in New York on Monday, Reserve Bank of Australia Governor Glenn Stevens told his audience that rate cuts were not "useless," but that their potential had become more limited.
The People’s Bank of China announced earlier that they were slashing banks’ reserve requirements in an effort to encourage bank lending while at the same time attempting to reverse the country’s slow growth trend.
According to well-known investor, Marc Faber, Greece is bankrupt and should default, positing that a "geopolitical game of chess" was being played out in the region.