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.
Most Recent
Yesterday, oil markets advanced on signs of the coronavirus crisis dwindling in the United States, after Saudi Aramco released a positive assessment regarding the situation of the market.
The US Dollar gained positive momentum during the London trading hours as FX markets focused on US plans for fiscal stimulus and the upcoming trade discussion which is likely to center on the escalating tensions between the US and China.
Last week oil markets ended the week in the negative territory mainly due to concerns for a fall in demand, now there are fears that the current economic recovery could be affected by a second wave of the coronavirus.
Top Forex Brokers
The US Dollar was broadly higher despite a shift in sentiment as markets await today's release of US labor data
The Bank of England's newly announced outlook was far less gloomy than previous reports, which helped the Pound Sterling hit a fresh 5-month peak against the US Dollar.
Yesterday, the oil markets continued rallying, hitting a 5-month high, after the markets learned that there was a drop in crude inventories.
The Pound Sterling inched higher against its US counterpart after the relief package for the US Coronavirus pandemic stalled in the US Congress, which sent US bond yields lower.
The Eurozone Markit PMI Composite for July was recently released, which stood at 54.9 after being at 54.8 in June, signaling an expansion, and slightly above the analysts' expectations who foresaw that the composite PMI would remain unchanged.
The Pound Sterling earlier made headway against the US Dollar, but analysts say that any further gains are being capped as concerns over the upcoming Bank of England meeting as well as another round of infections from Covid-19.
Bonuses & Promotions
The Reserve Bank of Australia decided to leave the cash rates steady for the third consecutive time, at 0.25 percent.
The Pound Sterling steadied during the London trade on Monday as FX traders assess the UK government's proposed strategy of localized quarantines and lockdowns.
Oil prices were mixed on Sunday, on fears of oversupply as the OPEC+ coalition is set to ease its supply cuts this month.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.
Shares of Apple stock (AAPL) closed up 4.6 percent on Thursday after the company announced a 4 to 1 stock split at the end of August which will allow investors to purchase shares of the tech giant for near $100 per share.
The U.S. dollar hit a two-year low on Wednesday, following the Federal Reserve's announcement that it will leave interest rates stable near zero.
Oil prices ended the session in the positive territory yesterday after the Energy Information Administration reported the biggest American crude oil supply decline since the year began.