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.
Commodity linked currencies continue to be the week’s biggest movers. The Canadian Dollar moved near to an 11-year trough against the greenback following the recent elections for Prime Minister and the lowering of growth forecasts by the Bank of Canada.
China’s slight recovery Thursday hasn’t done much to alleviate Asian investors’ worries. Asian Stocks came in with a mixed performance for the day with small-caps on the mainland attracting the strongest buying interest.
The recent rout in Asian equities negatively impacted growth currencies, including the Aussie and Kiwi Dollars.
Asian shares were mixed on Wednesday as investors remained cautious ahead of the European Central Bank's policy meeting later in the week. Export data was generally weak while Japan's markets was hoping to reach new highs for the month.
The Euro backed off its recent 10-day trough versus the US Dollar as FX traders ponder the latest less dovish words from ECB officials.
The low Australian dollar and ultra-low official interest rates seem to be helping Australia’s economy adjust to the end of the resources boom.
The Euro remained close to a 10-day trough versus the US Dollar as investors ponder a looming policy meeting for the European central Bank.
News out of China continues to fluctuate wildly. Reports out Monday showed that the GDP of world's second-biggest economy cooled less than expected. Other monthly indicators released in tandem with the GDP data hinted at enduring weakness in the economy.
It looks as if it is going to be a reasonably busy week ahead, although the focus will not fall on the USD but instead on the three currencies whose Central Banks are reporting this week: the Euro, the Canadian Dollar, and the Australian Dollar.
At the upcoming meeting of the European Central Bank on October 22 in Malta, Mario Draghi, the ECB president, is expected to signal further monetary easing by the central bank.
The Japanese economy remains on a course to stabilize its inflation. For the last few months, the Bank of Japan (BOJ) has been repeating its plan to continue QQE until the 2% inflation is stable and on Thursday, BOJ Kuroda reiterated this intention.
The Euro came under heavy sell pressure in the wake of comments made by an ECB official regarding the economic need for additional stimulus.
China’s cooler than expected inflation numbers brought Asian stocks down Tuesday while producer prices continued their slide to a 43rd straight month.
Earlier in the trading session, the Pound Sterling had taken center stage among major currencies with a huge M&A deal giving the Pound a short term lift.
With prospects of a Fed interest rate hike fading any time soon, the U.S. dollar remained sluggish Tuesday, hovering at three-week lows against most other currencies.
