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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Despite some economic news that, for a change, didn’t disappoint, the Euro continues to be under heavy sell pressure.
The Federal Reserve will be releasing the minutes from the Federal Open Market Committee’s Dec. 15-16 policy-setting meeting at 2 p.m. Wednesday in Washington.
The offshore yuan is in a free fall, slumping to 6.6650 against the dollar, the lowest rate since the last quarter of 2010.
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The Euro slipped back and moved near to the recently struck 1-month trough versus the US Dollar.
China's markets went on a roller coaster ride Tuesday, moving in all directions and closing mixed following a sharp selloff in the previous session.
As the first full trading week of the year dawned in Asia, disappointing economic news from China suggested that the country’s struggles will continue in 2016. Several PMI reports for China, most recently the Caixin Manufacturing report for December, showed a reading once again well into contractionary territory.
Chinese stocks dived Monday, prompting a trading halt for the rest of the session and sending stock markets in Asia Pacific lower following weak manufacturing surveys that renewed concerns over the stability of the country's economic recovery and soured hopes that the world's second-largest economy would enter the new year on better footing.
The three big concerns in 2015 were falling oil prices, China's economic slowdown and the never ending speculation about when the Federal Reserve would raise interest rates. Some of these issues continue into 2016.
We are right at the start of a the first new month in a new year and as such we can expect the markets to really come back to life this week, with a lot of money flows and major positioning, so it is probably going to be a great time to trade. Get the economic and political calendar for the popular currencies for the week of January 4, 2016 here.
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Forecaster were mostly off with their 2015 predictions as end of year numbers are tallied up and analyzed.
The end of the year is in sight and oil prices are lower than they have been in years with few signs of turning around. U.S. government released data that showed a continued stockpiling of crude and no significant slowdown in production is expected as 2016 rolls in.
Asian markets ended the final trading day of 2015 with unexciting results as investors continued to watch oil prices for further clues going into 2016.
According to some sources in the know, China's central bank has temporarily suspended some foreign exchange businesses of several foreign banks until the end of March.
Saudi Arabia announced plans on Monday to reduce its state budget deficit cutting its spending cuts and introducing plans to raise revenues from sources other than oil. The decision comes on the heels of a dramatic drop in oil prices over the last 18 months that have hit its oil revenues hard.
On December 21st, Azerbaijan’ central bank relinquished control of its exchange rate sending the manat down to its weakest on record. The move followed the country’s decision to abandon the currency peg as oil prices slumped to the lowest in 11 years.