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.
Monday, May 26, 2014 is a public holiday in both the U.K. and the U.S.A. The U.K. and the U.S.A. are the major financial centers driving volume in the Forex market, so we can expect this day to have very low volatility and price movement.
Improved economic data from the U.S. helped to push the greenback to a 1-week peak versus the Japanese Yen while it maintained its position against the common currency Euro. Get the updated Forex news here before the weekend begins.
An unexpected but welcome improvement in China’s Purchasing Manager’s Index helped to improve risk appetite broadly, sending the safe haven Japanese Yen lower and the Australian Dollar higher.
Just ahead of the Bank of Japan’s policy announcement the U.S. Dollar remained close to a 3-month trough versus the Japanese Yen.
The Japanese Yen remained closed to a 3-month peak versus the greenback and the common currency Euro as speculation wanes that the Bank of Japan is likely to provide further stimulus.
The Euro steadied during trading in Asia on Monday after two difficult weeks which saw the Euro lose more than 1% against its American rival, the U.S. Dollar.
The Euro remained close to a 6-week trough versus its U.S. counterpart as dovish expectations of a possible interest rate cut by the European Central Bank continue to grow.
The Euro held close to a 5-week trough versus the U.S. Dollar as investors’ speculation intensifies and reevaluates the likely next move of the European Central Bank.
The Euro remained close to a recently struck 1-month trough versus the greenback but FX traders also remain wary of the likeliness of the European Central Bank to ease in order to stimulate the economy in the Eurozone area.
Since last week, when the head of the European Central Bank offered his strongest hint yet that the monetary policy committee was ready to imminently intervene in the too strong Euro.
The Euro remained on the defensive during Friday’s Asian trading, in an attempt to recover from the losses incurred after Mario Draghi, the head of the European Central Bank, said that a monetary policy change might soon occur in order to halt declining inflation.
The Euro eased away from just shy of a 2-month peak versus the U.S. Dollar as FX players await the monetary policy decision of the European Central Bank expected later today.
The New Zealand Dollar was broadly lower during Wednesday’s Asian trading session after the head of the Reserve Bank of New Zealand cautioned FX traders that it might be compelled to intervene in the too strong currency given worsening fundamentals.
In subdued trading as a result of holidays in the U.K. and Japan, the U.S. Dollar remained essentially and broadly flat even in spite of recent improved economic data.
The Japanese Yen struck a 2-week peak versus its main rival, the U.S Dollar, as appetite for risk skidded following the release of Chinese economic data which once again showed that manufacturing activity fell for the fourth consecutive month in China, the second largest economy on the globe.
