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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Almost a year has passed since oil prices began their sharp descent and almost nothing has changed since then. Despite its detrimental effect on global revenues, Saudi Arabia, Opec’s leading oil producer, is standing firm on its production target and is expected to announce at its Friday meeting that it will maintain its current level of production.
Gold dropped almost two percent to a near six-year low on Friday, marking a sixth straight weekly decline under pressure from a firm U.S. dollar and prospects of a U.S. interest rate rise in December.
Asian markets slid in afternoon trading on Friday as reports from Japan and China kept investor confidence down.
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Asian markets were up overnight Thursday on expectations of a tightening of U.S. economic policy and prospects of new European stimulus moves.
The US Dollar Index is slowly recovering from its earlier retreat amid risk aversion in a trading week shortened by the American Thanksgiving holiday.
Turkey downed a Russian fighter jet on Tuesday after it strayed into Turkish airspace on the edge of Syria. Though the bond and currency markets didn't have much initial reaction this event, there was a notable reaction in the oil markets starting on Tuesday when U.S. crude prices rose more than 2.5 percent, testing low $40 levels.
Oil prices surprised analysts by inching up Tuesday on concerns about continued global tensions.
As sentiment for the Dollar gets support on news that the Fed could make an unexpected announcement today, the Euro has suffered in its wake.
Oil prices continue to move downwards despite U.S. and Middle East promises to cut production and diminish the glut.
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With 98% of the vote counted, opposition candidate Mauricio Macri is poised to become Argentina's next President.
As sentiment for the Dollar gets support on news that the Fed could make an unexpected announcement today, the Euro has suffered in its wake.
The Fed will be making a surprise announcement at an unscheduled meeting this morning and analysts are expecting to hear about an interest rate hike earlier than the December date discussed until now.
The week ahead is very likely to be much quieter than last week as there is only a small volume of data releases scheduled. These scheduled announcements cover only 5 currencies. Get the economic and political calendar for the popular currencies for the week of November 23, 2015 here.
With all eyes still focused on the next Fed interest rate hike, the Bank of Japan reported that it is prepared to continue its program of quantitative and qualitative monetary easing (QQE) as long as necessary to meet its 2% inflation goal, but is prepared to make adjustments if necessary.
Asian shares held on to this week's gains Friday, while the dollar stepped back from seven-month highs on concerns of higher U.S. borrowing costs and slower global economic growth.