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.
Higher interest rates are virtually guaranteed, according to former Federal Reserve Chairman Alan Greenspan. Speaking on Wednesday at the Global Private Equity Conference in Washington, DC. Greenspan reiterated that helping the Fed and other central banks reduce overall debt is a necessity in order to reduce bond market volatility.
The gap between US Treasuries and German Bunds narrowed, providing the common currency Euro with another lift, even in spite of an unexpected disappointment in Germany’s GDP figures.
The Reserve Bank of New Zealand released its Financial Stability Report this morning causing the NZD/USD to zigzag. The rate plunged and then recovered somewhat at the news that the RBNZ will be tightening its lending limits in an effort to slowdown the too robust housing market.
The Euro edged higher versus the greenback as bond market fluctuations effectively undermined the US Dollar; that move came as a surprise to analysts who, collectively, had expected the recent uptick in long-term overnight Treasury bond yields to provide a lift to the greenback.
In what is considered a surprise move, Greece managed to pull off the unexpected Monday. Cutting it down to the wire, it managed to pay the International Monetary Fund close to 750 million euros ($836 million), a portion of its outstanding debt.
Talks about the future of Greece remaining in the Eurozone, and the Greek government’s ability to repay an upcoming IMF loan appear not to have been very optimistic as FX traders send the Euro lower versus its major rivals including the US Dollar and the Japanese Yen.
China’s interest rate cut on Sunday was applauded enthusiastically by investors as an encouraging step towards bolstering the country’s faltering economy.
UK markets rebounded Friday on news of the surprise success of the Conservative Party in the U.K. elections.
Greece can’t seem to see the light at the end of its financial tunnel. No matter what moves it makes, it isn’t enough to get the country out from under its pile of fiscal woes.
This week will probably be a fairly quiet one overall, although there will be a lot of focus on the British Pound during the first half of the week and the New Zealand Dollar on Wednesday. Get the economic and political timeline for the week of May 11, 2015 here.
Australia's economy lost jobs in April after two strong months of employment, underscoring the continued fragility of the labor market.
The Euro edged higher and moved close to a 2-month peak against its main rival, the US Dollar, helped along by better than expected economic data from the Eurozone and news that the Greek government was able to make an IMF interest payment in the amount of €200 million that was due today.
A selloff in global sovereign bonds pushed Asian stocks to two-week lows on Wednesday as investors worried it might trigger profit-taking in other asset classes, while the U.S. dollar dragged behind dogged by trade deficit concerns.
After the Dollar’s worst run in several years, the greenback recovered versus its major peers, especially the Euro, but also against a weighted basket of rivals.
The Reserve Bank of Australia's (RBA) decision came down to the wire at its monetary policy meeting Tuesday, with the result of an interest rate cut despite policymakers' concerns over a too-strong Australian dollar and home price gains.
