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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China's top gas importer PetroChina recently declared a force majeure on gas imports according to sources
The U.S. dollar struggled to advance against its primary trading partners on Thursday as traders priced in the possibility that the Federal Reserve will implement at least one interest rate cut
An unexpected interest rate cut by the Fed has FX traders pondering whether or not the Bank of England might act similarly.
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The Bank of Japan Governor Naruhiko Kuroda stated on Wednesday that the coronavirus epidemic could cause big damage to the Japanese economy
The Federal Reserve took emergency measures on Tuesday afternoon with a unanimous decision to cut interest rates by 50 basis points.
Safe haven currencies, namely the Swiss Franc and Japanese Yen, saw significantly renewed interest during the trading session in London on Tuesday, especially against the US Dollar.
The Japanese prime minister Shinzo Abe said that the Japanese government is ready to implement fiscal stimulus measures to aid the Japanese economy from the adverse effects of the coronavirus outbreak.
Given the possibility of coordinated central bank action to face the economic effects of the coronavirus epidemic, traders ran into the oil markets on Monday, causing oil futures value surge.
The US Dollar was struggling to regain traction during London trade on Monday
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The Bank of Japan Governor Haruhiko Kuroda said that the Japanese Central Bank will attempt to aid the Japanese markets to stabilize, as they are currently being affected by the coronavirus epidemic.
Gold prices were broadly higher on Monday, spiking more than 1 percent as traders favored the safe haven asset on concerns that the coronavirus was spreading globally
On Thursday, the Euro saw its best single day in almost two years against the US Dollar as fears of a potential pandemic raised expectations
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The US Dollar couldn't hold onto the positive momentum as FX traders fear that the US Federal Reserve Bank will need to lower interest rates in an effort to counterbalance the impact of the Coronavirus spread.
The former Federal Reserve chairwoman Janet Yellen said during an event in Michigan that the coronavirus epidemic could throw the American economy into a recession.
Oil prices headed lower for the fifth consecutive day as increased concerns about the coronavirus prompted traders to doubt global demand.