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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Among the major currencies traded, the Aussie Dollar was the day’s largest gainer as traders end their summer holidays.
In a widely expected announcement on Tuesday, the Reserve Bank of Australia announced its intention to keep its cash rate stable at 1.5 percent.
Crude oil prices have already see-sawed by 5.56% since Tokyo opened the week’s business some hours ago
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There will be a somewhat heavier news schedule this week compared to last week, dominated by key central bank actions concerning the Euro, Canadian Dollar and the Australian Dollar.
Friday’s slew of key U.S. economic data came in below consensus forecasts on all accounts.
The Japanese Yen moved higher against the US Dollar after a surprisingly dismal reading in August’s US manufacturing figures.
A bullish U.S. Dollar was beaten down yesterday following the release of unexpectedly poor ISM Manufacturing PMI data.
The Pound Sterling edged higher against both the US Dollar and the Euro on Thursday after the latest PMI Manufacturing reading was released.
The U.S. Dollar received a small temporary boost yesterday from the release of the monthly ADP Non-Farm Employment Change data showing that the U.S. had a net monthly change of 177,000 more people in employment, just slightly ahead of the consensus forecast which was 174,000.
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Unexpectedly upbeat data helped to lift the Pound Sterling against the US Dollar and the Euro. Investors have been looking to data for clarification of an economy that is maintaining momentum in the wake of the June referendum to leave the E.U.
The U.S. Dollar rose across the board yesterday as better than expected CB Consumer Confidence numbers boosted an already strong greenback.
The Pound Sterling edged lower against the US Dollar as it appears the monetary policies for the UK and the US central banks clearly are on diverging paths.
European stocks saw an unexciting start to Tuesday’s trading day as the pan-European STOXX 600 index opened 0.17 percent higher.
In the wake of last week’s comments from the head of the US Federal Reserve Bank while at the Jackson Holy symposium, the US Dollar was broadly higher on a brighter outlook for the US economy and a subsequent interest rate hike.
At the U.S. Federal Reserve’s annual convention for global central bankers in Jackson Hole, Wyoming last week, Chair Janet Yellen took an optimistic stance about the U.S. economy – and traders took notice.