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.
Catching the FX markets flat footed, the Reserve Bank of Australia sprung a surprise on traders with its announcement that it had decided to lower interest rates, cutting the cash rate to 2.25% in an effort to provide a boost to the lackluster economy.
Oil futures remained firm on Tuesday adding to gains of more than 11 percent in the prior two sessions, but persistent worries over China's demand outlook capped prices.
In London trading, the Swiss Franc struck a 2-week trough versus both the U.S. Dollar and the common currency Euro on speculation that the central bank might be intervening again to weaken the Swiss currency, and that the governing council of the Swiss National Bank had, in fact, determined a new “target” trading range.
Asian shares languished on Monday after the latest gauge of China's factory sector activity raised concerns about the world's second-largest economy.
Here’s what’s been happening in central banking this week: The Monetary Authority of Singapore surprised markets Tuesday night with a policy switch to pursue a slower pace of currency appreciation, its main policy tool, sending the city-state's currency sharply lower.
The Federal Reserve policy statement on Wednesday essentially maintained the status quo with investors speculating with greater certainty that the Fed is ready for a rate hike later in the year.
Some of Asia’s wealthiest families are squirreling away dollars as a haven from the volatility plaguing financial markets, providing another source of demand for the greenback.
The U.S. Dollar Index, a gauge that investors use to measure the Dollar’s worth relative to its major rivals, rose in European trading, recovering some of yesterday’s losses, as investors speculate that the Federal Reserve will maintain the status quo on its policy outlook.
China's yuan broke into the top five as a world payment currency in November, overtaking the Canadian dollar and the Australian dollar.
The Euro continued to edge higher in Tuesday trading after a day of profit taking as investors await the outcome of the Federal Reserve Bank policy meeting to gauge expectations on the possible timing of an increase in interest rates.
Asian share markets were mostly firmer on Tuesday and the euro held onto some rare gains, relieved that European equities had weathered Greece's election outcome without much disruption.
The Euro steadied in London after a bout of profit taking by investors in the wake of Greece’s election outcome which earlier sent the Euro to an 11-year trough.
The euro skidded to an 11-year low and stock prices fell on Monday as Greece's Syriza party promised to roll back austerity measures after sweeping to victory in a snap election, putting Athens on a collision course with international lenders.
As voting closes in Greece, initial exit polling shows the left-wing anti-austerity Syria party winning an outright majority. Markets are likely to feel this will mean instability for the Euro and conflict between Greece and the European Central Bank.
Greece votes today in a General Election which is expected to produce a change in government. The Greek government is currently dominated by the conservative New Democracy party, but the most recent opinion polls forecast that the left-wing Syriza party will be able to take power following today’s vote.
