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.
Market News
Market News
Tokyo shares fell sharply on Friday on the back of a stronger yen.
The euro zone saw increased economic activity in July according to the euro zone flash composite PMI readings on Wednesday.
As a signal that China’s slowdown has not reached its low, the nation’s manufacturing numbers continued to drop in July.
With Asian economies continuing to grow and with the U.S. Federal Reserve reducing its stimulus measures, China’s Premier Li Keqiang said yesterday that the “bottom line” for China’s gross domestic product this year is 7 percent and that the nation can’t let growth go below that.
After months of decline, the price of gold is moving upwards. Gold jumped to a one-month high from London to Shanghai and Tokyo as prospects of the U.S. Federal Reserve sustaining its stimulus package began to hurt the dollar.
Currency analysts believe that there is a strong probability that the USD/JPY pair will once again touch last week’s peak of 101.53 Yen given the Yen’s recent underperformance and especially ahead of a key election in Japan’s Upper Parliament this weekend.
The U.S. Dollar Index moved higher during a choppy Asian trading session following comments made by Ben Bernanke, the head of the U.S. Federal Reserve, wherein he gave hope to Dollar bulls who expect that the Fed’s quantitative easing scheme will be reined in before the year’s end.
The U.S. Dollar was struggling for traction ahead of today’s Congressional testimony for the Federal Reserve Chairman.
The U.S. Dollar managed to eke out a moderate recovery during Tuesday’s Asian session as investors hold on to their expectations that the Federal Reserve is likely to take a less accommodative stance before any of its major rivals.
During Monday’s Asian trading session, news that Chinese growth expectations were met helped to ease investors’ concerns of an economic slowdown there which gave the Aussie Dollar a much needed reason to edge higher.
The U.S. Dollar paused in its downtrend which began on Thursday’s trading session as investors’ fears of a global growth slowdown temporarily halted their consideration for prolonged dollar softness.
The U.S. Dollar fell on Thursday following comments made by Ben Bernanke, the Federal Reserve chief, who unexpectedly cautioned markets that the Fed might have to keep the Fed’s accommodative stance in position for a longer period of time as the unemployment rate could be disguising some labor market weakness, but that it would also be dependent upon inflation rates staying low.
The U.S. Dollar Index held close to a recently struck 3-year high after a release of unexpectedly dismal trade data from China confirmed speculation that the economy there is slowing.
In spite of the U.S. Super Committee’s failure to come to some consensus regarding the U.S. deficit, investors view the ongoing crisis in the Eurozone as a situation more worrying, thus have sought the safe-haven refuge of the greenback, pushing it higher against the Euro.
The U.S. Dollar slipped from a recently struck 3-year peak but analysts expect that it will continue to strengthen in the longer term on growing expectations that the Federal Reserve Bank stands poised to curtail its existing asset purchase program.