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.
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An unexpected and disappointing labor report from Australia helped to send the Aussie dollar sharply lower and resurrected investor speculation that the Reserve Bank of Australia might now be considering an interest rate cut to help stabilize the Australian economy.
An improvement in recently released trade data from China helped to boost the Australian Dollar to a 1-month peak against its U.S. counterpart.
The U.S. Dollar Index edged lower and held closet to a 2-week trough as investors await the new head of the Federal Reserve Bank’s testimony to glean, perhaps, the future of Quantitative Easing under her rein and the resultant direction of the greenback.
In Monday morning trade, the Japanese Yen held close to its recently struck troughs versus both the Euro and the U.S. Dollar which followed last Friday’s Wall Street rally.
With the ECB decision now out of the way, FX players are waiting only for the U.S. release of private sector jobs growth for the month of January.
As the European Central Bank’s monthly meeting looms, the common currency Euro steadied but held close to a 2-month trough which had been set against the greenback earlier this week.
With emerging markets beginning to stabilize the Japanese Yen eased off of the recently struck multi-month peaks though currency strategists are still hesitant to go long on the USD/JPY pair waiting instead for stronger affirmation that the risk environment has improved.
The U.S. Dollar managed to steady in spite a major selloff in Asian equity markets.
The Eurozone wallowed close to a 10-week trough versus the U.S. Dollar after the release of disappointing inflation data in the Eurozone ignited investor speculation that the central bank might this week decide to provide additional quantitative easing in order to prevent a further slide into deflationary territory.
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The U.S. Dollar Index moved higher during the Asian session, finding support after the release yesterday of solid growth data from the U.S. for the 4th quarter of 2013. FX players appear hopeful that the data could help to alleviate growing concerns over developing economies as well as mitigate the impact of the recent selloff in emergent market currencies.
Risk averse FX traders helped to send the Japanese Yen higher during the Asian trading session as uncertainty once again left markets jittery, however currency strategists are attributing the Yen’s bounce to position unwinding.
Though not as “powerful” as the world’s major central banks like the Federal Reserve and the European Central Bank, the Central Bank of the Republic of Turkey helped to turn the tide of the selloff in emerging markets by putting into effect a major interest rate increase of 4.25% which took overnight lending rate to 12%.
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Sign up to get the latest market updates and free signals directly to your inbox.The U.S. Dollar firmed broadly on increasing speculation that the Federal Reserve Bank is likely to continue to taper quantitative easing as the U.S. economic recovery seems to be more solid than originally assumed.
The Japanese Yen inched higher to a 7-week peak versus its key rival, the U.S. Dollar, following a sell off of currencies from emergent markets around the globe.
The Japanese Yen and Swiss Franc both firmed on Friday after an overnight surge of the safe haven currencies precipitated by growing concerns of a Chinese economic slowdown following the release of an unexpectedly weak factory output survey.