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 U.S. Dollar Index continues to hold close to a multi-month low and analysts believe the pressure on it will continue to remain, following the Fed’s announcement last week that they would embark on an open-ended round of economic stimulus.
After Ben Bernanke and the U.S. Federal Reserve Bank announced a new and much more aggressive effort to stimulate the U.S. economy and job creation, the U.S. Dollar Index once again touched on a 4-month low versus a basket of currencies, striking 79.134 .DXY.
The Euro continues to hold near to a recently struck 4-month peak, and after rallying on the news that the German Constitutional Court upheld Germany’s participation in the E.U. bailout fund.
Following a warning of a possible downgrade from Moody’s credit ratings service, the U.S. Dollar Index fell close to the 4-month low of 79.87 .DXY, trading at 1:15 p.m. (JST) at 79.784 .DXY during the Asian trading session.
During the Asian trading session, the Euro held close to a 4-month high versus the U.S. Dollar, the rally subsiding somewhat as traders exercise caution ahead of Germany’s court ruling regarding the bailout fund and the U.S. Fed’s decision on easing.
The Euro slipped versus the U.S. Dollar during the Asian trading session earlier, but holds close to a 4-month peak as traders speculate that Friday’s dismal labor report out of the U.S. will finally prompt the Federal Reserve to launch additional stimulus measures.
The Euro continues to hold close to a 2-month peak versus the greenback on investor euphoria driven by the ECB’s plan to face the Eurozone debt crisis head on.
The common currency Euro held near to a 2-month high against the U.S. Dollar during the Asian trading session as Wednesday’s rally continues to broadcast investor hopes that the ECB might have a new weapon against the Eurozone debt crisis.
As the European Central Bank prepares to meet later today, the common currency Euro slipped versus the greenback during the Asian trading session though underlying support should keep the EUR/USD pair within a relatively tight trading band.
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Two days before a critical ECB meeting that is expected to reveal how the European Central Bank plans to help its struggling members, the Euro started climbing. The gains remained stable during Tuesday’s Asian session.
The U.S. Markets are closed today for the Labor Day holiday. The Japanese yen rose against the Australian Dollar to 80.12, New Zealand Dollar to 62.60, and the Euro dropped to 1.2575.
Reports from the US on Thursday indicated that US consumer spending rose significantly in the past two months, hitting the highest point in the last five months.
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Sign up to get the latest market updates and free signals directly to your inbox.Asian shares hit a one-month low during Thursday’s Asian session as investors brace themselves for the highly-anticipated remarks of Federal Reserve Chairman Ben Bernanke who will be addressing the Fed Summit in Jackson Hole, Wyoming on Friday.
The G-7 countries, long recognized for being the world’s leading industrialized economies, pleaded on Tuesday for a greater oil output from the largest oil-producing countries.
The last week of August started off with volatility on Monday as German reports confirmed the country’s weakest business confidence index since 2010.