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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The Euro continues to drop as the Dollar and Yen keep rising against it. Many traders are recommending that the Euro should not be bought any time soon.
Markets on Wednesday barely managed to hold onto their rally for the fourth day, but the euro fell 0.3 percent to $1.2359, following its one-month high on Monday of $1.2443.
Concerns about the European debt crisis have instigated contagion fears in the minds of investors worldwide, but recent market movements have shown that investors are now hopeful that the tides are changing and that the European Central Bank may soon take action to contain the debt crisis.
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Last week Wall Street saw sudden and unexpected volatility as the result of a glitch in the computer of market-maker Knight Capital.
In Asian trading on Monday the euro gained against the US dollar, rising 0.4 percent to $1.2438, the highest in a month, with investors showing renewed optimism after a non-farm payroll report that was surprisingly positive.
On the heels of a disappointing announcement from ECB President Mario Draghi on Thursday, US stocks continued their downward spiral as investors faced dashed hopes that the European Central Bank would take swift action to resolve the region’s debt crisis.
US consumer spending is down, manufacturing has slowed and a disappointing NFP report is expected this week, but the Federal Reserve and its Chairman, Ben S. Bernanke showed restraint in its announcement on Wednesday, fueling consumer concerns and sending Wall Street steeply downward.
As the world awaits the ECB's announcement on Thursday, many are preparing for the worst and expecting the European Central Bank to disappoint.
Last week the US stock market saw its biggest two-day gain of 2012, but Monday’s trading saw a significant decline as investors wait anxiously for announcements expected from central banks later this week.
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Despite predictions from some major financial analysts and news sources that the Euro is headed for a certain demise, Asian stocks have continued to rise, indicating strong consumer hopes to the contrary.
The common currency steadied during the Asian trading session, holding onto gains made on Thursday after Mario Draghi, the head of the ECB, vowed that he would do all within his power to preserve the Euro and prevent a Eurozone breakup.
The Euro’s mini rally ended during the Asian trading session, with some of Wednesday’s gains given back, as persistent Spanish doubts continue to pressure the common currency.
European stocks continue to fall while Spanish bond yields continue to rise on the concern of the European debt crisis that will affect global growth.
The Euro eked out some gains against the safe haven currencies as risk appetite was whetted in Asia following news that China’s preliminary PMI manufacturing data for July was better than expected.
In Asian trading, the Euro slipped close to a multi-year and historic lows versus the Japanese Yen and the Australian Dollar as investors’ fears over a Spanish default escalate.