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.
In Asian trading today the Euro hit a 10-year low against the Japanese Yen, resulting from stop-loss selling in the EUR/JPY pair. And, although analysts expect the single currency to stay weak in the coming days, there was some happy news coming from the region, specifically from Italy, where the Italian Treasury was able to pay significantly less for borrowing money on a six-month term than it did last month.
The common currency Euro managed to remain above the recently struck 11-month low against the U.S. Dollar, even as traders keep a close watch on the outcome of the upcoming Italian sovereign debt auction.
Asian stocks were lower during Tuesday’s trading as investors expressed concern about the status of the Eurozone debt crisis in the coming quarter and weak holiday sales in the US.
The slow return to trading did little to erase last week’s losses for the US Dollar, as investors anticipate a rise in US consumer confidence to be published in tomorrow’s report. A somewhat strong fourth quarter in the US has eroded the pessimism that had been plaguing consumers, and the subsequent rise in confidence has halted the purchase of the greenback.
In thin trading in the run up to the Christmas holiday, the Euro edged higher against the U.S. Dollar but still on track to close out the year lower as investors worry that the Eurozone’s debt crisis will linger long into the new year.
Following an initial rally on the news that the ECB’s latest offering had been so well received, the euphoria quickly waned as market players understood that the offer was essentially only a liquidity operation, and could not in any way solve the underlying problem of the Eurozone debt crisis.
The common currency extended Tuesday’s gains during Asian trading as investors’ hope builds that the European Central Bank’s most recent offer of longer-term loans could help the Eurozone’s banks with their liquidity problems.
In Asian trading, the Euro remained close to an 11-month trough following comments made by the head of the European Central Bank which dashed any hopes that they would take on a greater role in the resolution of the Eurozone debt crisis.
The U.S. Dollar saw gains in Tokyo trading following the news that the long-serving leader of North Korea, Kim Jong-il, has died, which lent support to the safe-haven currency.
The Euro’s slide to an 11-month low appears to have skidded to a halt, but the common currency remains vulnerable to further losses so long as the Eurozone crisis is unresolved.
The Euro managed to creep higher during the Asian trading session but still remains stubbornly close to an 11-month low which was struck on Wednesday. Market players cite ongoing worries over a Eurozone resolution as the primary reason for the sell-off.
Following the announcement by the U.S. Federal Reserve Bank that they would leave their monetary policy unchanged, the Euro sank against the greenback, and stayed close to an 11-month low.
As was generally expected, the outcome of the last European Union summit left investors unsatisfied and the Euro, as a result, fell in Asian trading against the U.S. Dollar.
After an expected ECB decision which was followed by a disappointing press conference, the Euro took a turn for the worse and struggled to find footing in Asian trade.
As markets and analysts had been expecting, earlier today the European Central Bank announced another 25 basis point reduction to its benchmark interest rates, bringing the new rate to a record low 1%. Mario Draghi, the newly installed head of the ECB who assumed the role less than two months ago, appears to have set a fairly aggressive goal to reverse the previous administration’s tight monetary policy.
