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.
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.
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.
Economic data released in Japan over the Western holiday period has reinforced expectations that the Bank of Japan will make additional moves towards expanding its stimulus program in 2016.
Asian stocks moved into positive territory on Tuesday, throwing off early losses as Chinese shares rose a day after marking their biggest loss in a month and crude prices took back some lost ground. Japanese and South Korean markets erased morning losses and the Australian market totted up a more than 1 percent gain.
Asian equities traded mixed on the first day of the final trading week for 2015. Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows.
There are no practically no major news events scheduled for this week at all, with only three on the calendar: two concerning the USD and one concerning China. Get the economic and political calendar for the popular currencies for the week of December 28, 2015 here.
The number of Americans filing for unemployment benefits dropped more than expected last week, nearing a 42-year low as labor market conditions continued to tighten in a boost to the economy.
European stocks closed flat in shortened trading on Thursday. Oil prices remained choppy while other European energy stocks stayed up. Statoil shares closed around 5.2 percent higher after a judge ruled that the Norwegian company did not breach a contract it had with New York-listed Diamond Offshore Drilling.
As the Christmas holidays approach, financial and FX markets are slowing to a crawl. Most of the major currencies, including the US Dollar, the Japanese Yen and the Euro are seeing relatively light trading.
Asian shares climbed to 2-1/2-week highs in thin trading on Thursday ahead of the Christmas holiday in the wake of gains on Wall Street and a recovery in crude oil prices but turned mixed overnight dragged by a sell-off on the mainland.
