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 USD experienced a sharp decline on Wednesday as firmer equity and commodity rates caused a rise in demand for the euro and perceived riskier currencies, while traders awaited a significant decision from the Federal Reserve.
The U.S. Dollar Index held relatively steady versus major currencies in Tokyo trading today, remaining just shy of the newly established 1-month high struck during yesterday’s trading day.
Currensee Inc., the first Forex trading social network that connects traders from around the world based on real-time trades, has opened up its private beta to the public.
In line with analysts’ and investors’ expectations, the Reserve Bank of Australia today increased key interest rates by 25 basis points to 3.50%, effectively eliminating earlier gains made by the Australian Dollar.
Easy Forex is pleased to announce its participation in the 5th Middle East Forex Trading Expo in Dubai on November 17-18, 2009 and invites all participants to come to booth F23 for a chance to have a personal demonstration of their Visual Trading Machine.
Saxo Bank, the Copenhagen based online investment trading bank which successfully launched its operation in Dubai earlier this year will be co-sponsoring and participating in the 5th Middle East Forex Trading Expo and Conference 2009 which will be held at Emirates towers on the 17th and 18th of November.
With foreign exchange investors anticipating that the Reserve Bank of Australia will hike key interest rates later this week, they sold off their holdings in the relative safety of the Japanese Yen to buy the Australian Dollar, precipitating the Yen’s decline from earlier gains.
Interbank FX, a worldwide provider of online off-exchange retail foreign currency (Forex/FX) trading, today announced its participation in Arabcom group’s fifth annual Middle East Forex Trading Expo and Conference to be held November 17-18 at Jumeirah Emirates Towers Hotel in Dubai.
With better-than-expected GDP data out of the United States released yesterday, investors are eagerly awaiting further economic data to be released today before committing to higher-yielding currencies.
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Profit taking helped spur the Japanese Yen higher against a number of currencies in Asian trading today.
The JPY displayed an increase across all currencies on Wednesday due to investors trimming stretched risk positions in higher-yielding currencies. The stock market also fell following U.S. Data that was weaker than expected.
The U.S. Dollar Index continues to hold its own versus a group of major currencies, trading at 76.130 .DXY, following the 2-week high established yesterday at 76.328 .DXY.
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The U.S. Dollar continued to hold steady in Tokyo trading after seeing sharp gains in yesterday’s trading, gains which resulted from an increase in Treasury yields yesterday to the highest level over the past 2-months, all of which helped to prop up the U.S. currency.
With the issuance of a report out of China suggesting that the central bank should increase their holdings in the Japanese Yen and single currency Euro in their foreign reserves, investors sold off the U.S. currency, driving the U.S. down to a new 14-month trough versus the Euro in Asian trading today.