Forex Trading

Trading News This Week: Insights on Forex Trading

4 min read

This week in Forex trading news was dominated by the US Dollar, as its strength against other currencies continued to increase. The greenback moved up against both the Euro and the British Pound, taking the EUR/USD pair to a two-week low and the GBP/USD pair to its lowest level in nine years. The appreciation of the Dollar was largely driven by robust U.S. economic data, with the Bureau of Labor Statistics showing that the unemployment rate fell to 4.9% and that wages had seen their strongest uptrend in eight years. As the week drew to a close, the Dollar’s strength was further buoyed by the release of strong manufacturing and services numbers in the U.S., helping to boost speculation about a possible rate hike by the Federal Reserve.