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The U.S. Dollar slipped against the Japanese Yen during the Asian trading session coming off a 2-week high struck last Friday after the U.S. Labor Department reported an unexpected improvement to 7.8% in the unemployment rate.
The Euro slipped lower against the U.S. Dollar but held firm not far from the 2-week high struck after the ECB said that they stood ready to purchase sovereign debt.
The Japanese Yen is edging close to a 2-week low against the U.S. Dollar as investors take positions against the possibility that the Bank of Japan’s monetary policy becomes looser at the conclusion of this week’s policy setting meeting.
The Euro held steady in Asian trading as investors attempt to gauge whether or not Spain is prepared to ask for financial assistance.
Currencies were boosted slightly after somewhat positive manufacturing data from the U.S. Get the full story here.
During the Asian trading session the Euro slipped lower against the U.S. Dollar as investors digest the results of the latest Spanish banks’ stress test which did little to minimize concerns of a much-needed financial bailout.
The Euro firmed above the recently struck 2-week low after Spain’s government revealed a 2013 budget that many believe is a move towards stabilizing its finances.
See how economic turmoil in Spain and anti-austerity protests are affecting the global markets.
In Tokyo, the EUR/USD was trading at $1.2899, close to Tuesday’s low and down nearly 2% from the 4-month peak struck last week. Analyst say that support for the EUR/USD pair is seen at around $1.28
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The Euro edged higher against the U.S. Dollar in the Asian trading session following Monday’s fall to a 1-week low triggered by growing worries over Spanish debt and the government’s laissez faire attitude toward help.
In Asian trading, the EUR/USD remains close to the low struck last week with investors concerns over what’s ahead for Spain putting pressure on the Euro, which fell to $1.2931, a decline of 0.3% and close to the $1.29195 low struck on Thursday.
The U.S. Dollar gained a reprieve against the Euro as disappointing PMI data released yesterday showed that business activity in the Eurozone remained weak in spite of efforts by the central bank.
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Sign up to get the latest market updates and free signals directly to your inbox.The response to the Bank of Japan’s intervention yesterday was short-lived, and following profit-taking traders are already pushing the safe haven currency higher against the U.S. Dollar during the Asian trading session.
As many had expected, the Bank of Japan (BOJ) earlier today intervened in the Yen’s rise following the U.S. central bank’s easing moves last week which pushed the Japanese currency into unwelcome territory.
As reported at 1:18 p.m. (JST) in Tokyo, the U.S. Dollar was trading at 78.57 Japanese Yen, falling from a high of 78.93 Japanese Yen struck on Monday and well above the 7-month trough of 77.13 Japanese Yen struck last Thursday.