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 Euro struggled to maintain momentum against the US Dollar as expectations erode for a US aid package which would have helped those at risk as a result of the pandemic.
The People´s Bank of China announced its decision to leave the one-year cash rate unchanged for the sixth consecutive month at 3.85 percent, remaining in line with the analysts' expectations.
Stock Markets Lower; Australian Dollar at 3-Week Low
The Pound Sterling held onto recent momentum and edged above the $1.30 level on growing hopes that a Brexit breakthrough will be forthcoming.
The National Bureau of Statistics of China recently reported Chinese gross domestic product grew by 4.9 percent in the third quarter (year-to-year), worse than the expectations of the surveyed analysts, who foresaw it to be at 5.2 percent, but better than the previous quarter growth, which stood at 3.2 percent.
Central Bankers Express Global Economy Fears at G-30, Chinese GDP Lower at 4.9%; Nikkei 225 Up By 1.19%
Oil prices slumped further on Friday, with U.S. WTI crude futures for December falling to $40.80 per barrel, down 0.4 percent, and Brent crude futures for December declining 22 cents per barrel to $42.94 per barrel.
The Pound Sterling struggled for traction during London trade on Thursday as FX players wait for news that the Brexit talks seem to be progressing.
Concerns that the anticipated coronavirus stimulus will not be quickly forthcoming sends global markets lower.
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Stock Markets Lower as U.S. Stimulus Hopes Decline; Poor Earnings Data Hits Banks; Record New Coronavirus Cases Reported Yesterday
The Pound Sterling recovered after earlier feeling some broad pressure during the London trade on Wednesday as FX traders gauge the likelihood that a deal will have been made for the Brexit before the Thursday deadline.
The Japanese Ministry of Economy, Trade, and Industry recently reported that industrial production dropped by 13.8 percent in August (year-to-year), worse than July's figure, which stood at -13.3 percent and worse than what the surveyed analysts expected, who foresaw it to drop by 13.3 percent.
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Though lower currently, the Pound Sterling remains just above the key $1.30 level as FX traders focus squarely on details of the Brexit discussions as the short-term driver.
The United Kingdom's Office for National Statistics recently reported that the Unemployment Rate from June through August 2020 stood at 4.5 percent, after being at 4.1 percent between May and July.