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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The Euro was broadly higher against its major peers during Friday’s Asian trading session, getting a solid boost after the European Central Bank’s monetary policy decision left investors secure in the knowledge that there wouldn’t be any further stimulus measures in the near term.
The Japanese yen edged off its 5-year low versus the common currency Euro as well as a 6-month trough against the greenback though analysts say that the investors are still wary ahead of a week filled with market moving events.
The Japanese Yen was pushed broadly higher during Asian trading as investors book profits ahead of several major events which are scheduled to occur during the week.
European stock markets moved lower on Tuesday for the third straight day, as investors remained cautious before the closely watched U.S. nonfarm-payrolls report at the end of the week, which could affect the decision by the Federal Reserve whether or not to reduce its stimulus.
As the last month of the trading year began, an unexpected but welcome reading of China’s PMI data has helped to give commodity linked currencies a significant boost during the Asian trading session.
The Japanese Yen remained close to a 6-month trough against the greenback and a 4-year low versus the common currency Euro as investors favored the low yielding albeit safe haven currency as the carry trade for higher risk asset purchases.
The Japanese Yen struck new lows versus its major rivals, the U.S. Dollar and the common currency Euro during the Asian trading session and is poised to record the worst single month’s performance during this year.
The Dollar fell to a near 1-month trough versus the common currency Euro following the release of new economic data from the U.S. which only added to the uncertainty revolving around the Federal Reserve Bank’s decision to withdraw or scale back its quantitative easing scheme.
The Euro slipped from a recently struck 4-year peak versus the Japanese Yen following comments made by an official of the European Central Bank which effectively tanked the common currency.
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The Japanese Yen began the trading week at a fresh 4-year trough against the common currency Euro as well as a 4-month low against its U.S. rival, driven there as a result of the currency trade funding crowd.
The Japanese Yen slipped to a 4-month trough against its U.S. and European counterparts during Friday’s trading session in Asian as pressure rises against the safe haven currency.
The U.S. Dollar edged higher, hitting a 2-month peak against its Japanese rival following the release of Fed minutes which clearly indicated that not every FOMC member supports the continuation of its ultra loose monetary policy.
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The U.S. Dollar’s momentum was stymied during the Asian trading session on Tuesday on expectations of a prolonged QE program by the Federal Reserve with many investors already accepting as fact the likelihood that incoming Fed Chief Janet Yellen will maintain the ultra loose monetary policy which currently exists at least through March 2014.
The U.S. Dollar and common currency Euro remained close to recently struck highs versus the Japanese Yen during Monday’s Asian trading session, however continuing uncertainty about the U.S. Federal Reserve’s position on QE tapering will mean that the greenback’s gains are likely to be limited.