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.
The Federal Reserve will end its two-day policy meeting Wednesday with continued concern and speculation about how the combination of Greece’s stalemate and mixed U.S. economic data will influence the central bank’s push to increase interest rates.
The US Dollar had edged up versus the Japanese Yen following Haruhiko Kuroda’s comments that the Japanese central bank would not be making predictions on the Yen’s future movements.
Greece and its creditors have failed once again to come to an agreement. Instead the euro partners Monday responded to the situation with yet another contingency plan to end the current financial deadlock.
Though the debacle in Greece continues to dominate global headlines, markets’ focus will assuredly turn to the European Central Bank president, Mario Draghi, later today.
The question of a Fed rate hike remains in the air in Washington. Federal Reserve Chairwoman Janet Yellen and most of her partners continue to contend that the increase will take place some time before the end of the year and markets worldwide will be watching closely this week’s U.S. central bank’s policy meeting for signs of some decision.
This should be a significant week for the Forex markets. There is very key data coming this week regarding the USD, JPY, CHF, AUD, GBP and EUR. Get the economic and political timeline for the week of June 15, 2015 here.
After a surprise move by the Reserve Bank of New Zealand, the Kiwi Dollar plummeted against its rival, the US Dollar, losing more than 2.5% earlier and striking a fresh 5-year trough.
Though improving yields on US Treasuries are helping to support the US Dollar in the long term, in the short term the greenback remains under pressure as investors focus on the negotiations between Greece and its lenders.
Early this morning Bank of Japan Governor Haruhiko Kuroda said that it’s difficult to see the yen’s real effective rate falling further – and the currency instantly headed towards its biggest gain against the dollar this year.
Uncertainty as to whether the Dollar’s strength is likely to continue has forced the greenback into the defensive position, even in spite of last Friday’s upbeat jobs report.
U.S. bond yields may have risen last week, but bond traders are not pleased with the IMF’s posture to put off interest rate hikes till 2016.
After the US Labor Department reported last week that new private sector jobs hit 280,000 in the month of May, the US Dollar edged to a 13-year peak versus the Japanese Yen.
While most eyes will be focused on the G7 meeting taking place in the Balkans Monday, some investors are watching Asia's two largest economies, Japan and China, both of which are scheduled to release much data over the course of the coming week.
This could be a very quiet week for the Forex market, with little on the agenda. The headlines are likely to be dominated by the G7 meeting on Monday, and key data from New Zealand, Australia and the U.S.A. on Thursday.
The Seven (G7) Summit of industrial nations will meet on Sunday in the Bavarian Alps but the focus will almost certainly be on Greece’s debit crisis.
