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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Uncertainty about the US elections together with the surge in coronavirus cases is weighing into the performance of the oil and stock markets, which are experiencing a lot of volatility.
Stocks Higher; RBA Cuts Interest Rate; U.S. Vote Begins
The Pound Sterling slipped close to a 4-week trough versus its US counterpart during London trade on Monday after the government announced another set of pandemic-related restrictions.
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Stock futures were modestly higher on Monday despite concerns that new lockdowns in Europe and rising COVID-19 cases in the US could hinder global economic recovery.
Coronavirus Cases and Deaths Rise Strongly in U.S.A. and Europe; New Lockdown Announced in England
The Euro continues to come under pressure, especially against the greenback, after Thursday's announcement by the head of the European Central Bank
The safe haven greenback moved higher during the London trading session while higher risk currencies were subdued as a result of market players' worries about the resurgence of Coronavirus infections.
The Bank of Japan announced its decision to leave the cash rates unchanged, at -0.1 percent, a move which confirmed analyst expectations.
Coronavirus Cases and Deaths Rise Strongly in U.S.A. and Europe; New Lockdowns Announced; S&P 500 Falls Sharply
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The FX market's demand for safe haven assets pushed the Pound Sterling lower against its US counterpart; for all intents and purposes, the US Dollar is still considered a safe haven currency.
The Reserve Bank of Australia's board member Ian Harper said recently that there is additional room for boosting bond purchases, adding that the bank still has the capacity to do so indefinitely if the governing board deems it appropriate.
Japanese Yen Close to Long-Term High Prices; Coronavirus Fears Impacting Euro
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In London trade, the Pound Sterling remained relatively steady as analysts assess the likely sentiment shift if there is a Brexit deal.
Reserve Bank of Australia Deputy Governor Guy Debelle expressed optimism on Tuesday that the Australian economy grew in the third quarter of 2020 despite complications from COVID-19.
New Coronavirus Cases Hitting Record Highs in E.U. and U.S.A.