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.
Recent comments made in Japan by one of the Prime Minister’s economic advisors have pushed the Japanese Yen to a 2-year peak versus the common currency Euro as FX traders consider the likelihood that the Yen’s value has deteriorated beyond the Japanese government’s intentions.
Greece is preparing to declare a debt default unless it can reach a deal with its international creditors by the end of April.
Commodity-linked currencies, notably the New Zealand and Australian Dollars, experienced a sharp decline after China’s National Bureau of Statistics reported earlier today that exports declined to -15% in March, well off the consensus expectations of a decline to only 12% and the worst numbers in 12 months.
A rally in China's stock markets to seven year highs on Monday kept an index of Asian shares near its highest level since September, as weak Chinese trade data hardened expectations for more economic stimulus measures from Beijing.
This week should be quieter than last week, with the focus turning to central bank statements and actions for the EUR and the CAD.
The first big wave of earnings reports is expected in the week ahead, with major banks and financials releasing numbers for the past quarter.
After Janet Yellen’s dovish tones surprised at the last Fed policy decision, yesterday’s release of the Federal Reserve’s policy protocols from the March meeting might have given some hawkish bulls reason to believe that a summer rate hike was still on the table.
Chinese investors, for the first time, used the entire 10.5 billion yuan ($1.7 billion) daily quota in a cross-border program buying Hong Kong stocks, boosting turnover under the Shanghai-Hong Kong Stock Connect to a record.
After a rally which pushed the US Dollar close to a 3-week peak versus the Japanese Yen, the US Dollar retreated after the news that the Bank of Japan (BOJ) said it intended to maintain the status quo even in spite of slowing inflation.
The Bank of Japan (BOJ) on Wednesday kept its massive monetary stimulus intact, as widely expected, emphasizing the fact that the world's number three economy is recovering moderately.
Oil surged more than 6 percent Monday, and helped boost the stock market as the S&P energy sector jumped 1.8 percent.
Following the release last Friday of an unexpectedly dismal jobs report from the US Department of Labor, the US Dollar had initially been under heavy pressure.
The weather may be warming up but economists are not quite certain how the markets are headed. Some see an increase in consumer confidence and a healthier housing market as a sign of a rebound in growth and hiring.
This week opens quietly, with most of Europe and the Western world on holiday, with the exception of the U.S.A. and Canada. Following the holiday, it should be a fairly significant week as it opens the month, as usual, with central bank statements and actions for the USD, JPY, GBP and AUD
Greek Finance Minister Yanis Varoufakis will meet International Monetary Fund Managing Director Christine Lagarde in Washington on Sunday to discuss a set of planned reforms that Athens hopes will unlock much-needed bailout funds.
