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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With investors’ winding up their short positions, the U.S. Dollar rose to a 3-month peak in Asian trading today, following the Federal Reserve’s upbeat message which lent support to the greenback’s recent rebound
In Tokyo trading, the U.S. Dollar approached a multi-month high versus the single currency Euro in advance of the Federal Reserve statement which will be issued at the conclusion of their policy meeting later today. Investors are hoping the statement will provide clues as to when the administration will start withdrawing its current loose monetary policy.
Markets continue to ponder the anticipated actions of the United States Federal Reserve Bank, resulting in a subdued U.S. Dollar in Asian trading today. As reported at 2:49 p.m. (JST) in Tokyo, the U.S. Dollar Index remained relatively flat, trading at 76.407 .DXY, well off the 6-week high hit last week.
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With the Abu Dhabi governing announcing that it will assist Dubai with its debt repayment problems, to the tune of $10 billion in financial assistance, the single currency Euro gained against the U.S. Dollar in London trading today. Once the news was released, the U.S. Dollar declined broadly with the Euro being the immediate benefactor of Abu Dhabi’s largesse. As reported at 8:55 am (GMT) in London, the Euro gained .2% to trade at $1.4656, helped along as well by a .8% gain in share prices in the European market.
The U.S. Dollar and the single currency Euro moved up against the Japanese Yen in Asian trading today on the release of strong economic data from China which showed that industrial output rose more than 19% from the same period the previous year
The Australian unemployment report beat analyst’s forecasts last month, with the jobless rate falling .1% to 5.8%, raising investor expectations that another interest rate hike from the current 3.75% will be forthcoming
The single currency Euro continued its decline for the third consecutive day following the news that Fitch Ratings Agency had downgraded the debt rating of Greece from A- to BBB+ with the possibility of further downgrades in the future.
Investor speculation following the stronger than expected recent U.S. jobs data, that the U.S. Federal Reserve Bank might consider raising key interest rates from their historic lows, was dashed. Yesterday, confirmation came from the head of the Federal Reserve Bank, Ben Bernanke, as well as N.Y.
The U.S. Dollar slipped versus the Japanese Yen in Asian trading today, as exporters from Japan booked profits after Friday’s sharp gain in the U.S. currency which was precipitated by better than predicted employment data from the United States.
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The U.S. Dollar slipped versus the Japanese Yen in Asian trading as market players booked profits on the U.S. currency’s rebound in advance of today’s release of U.S. labor data.
Both the U.S. Dollar and the Japanese Yen slipped in Asian trading today following the announcement by Bank of America that it intends to repay the TARP (Troubled Asset Relief Program) funds over the coming week, to the tune of $45 billion.
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Sign up to get the latest market updates and free signals directly to your inbox.The Japanese Yen struggled while the U.S. Dollar held steady in Asian trading today against high-yielding currencies such as the Australian Dollar and the single currency Euro. Investors’ risk appetite was also boosted by the recent rises in the commodity and stock markets.
Investor expectations were dashed when the Bank of Japan failed to take bolder measures in an effort to halt the Japanese Yen’s rise; according to the communiqué, the BOJ will be introducing a facility to provide fixed rate funds for a 3-month period at a rate of .1%.
Market fears about the potential default of mounting debt in the United Arab Emirates has been assuaged, following the central bank’s move to provide emergency assistance to Dubai’s financial institutions.