Forex The single currency reported another week of lows against the dollar, losing over 180 pips. The European Central Bank left its interest unchanged at 0.5% in a bid to reassure investors’ fears of a new economic crisis on the continent. He also stated firmly that the interest rate will be kept at this or lower level for an extended period, and did not rule out a negative interest rate on bank deposits at the ECB. President Mario Draghi said the bank will do everything possible to strengthen the European economy. His statement failed to support the euro whose losses were reinforced by the political crises in Portugal and Greece. At the end of the last trading day, the most traded currency pair, EUR/USD, closed at $1.2828. Meanwhile, the Bank of England announced that it has no intention to raise interest rates any time soon. This derailed the currency speculators who expected signs of increasing interest rates by the bank, and the GBP/USD lost over 150 pips in just a few minutes. The weekly drop of the pair reached 300 pips, closing at 1.4899 on Friday. Positive data from the US Labor Department helped the dollar rise against other leading currencies. The greenback improved its positions against the yen and the USD/JPY closed at 101.20, or registering a 202 pips rise. The dollar surpassed its Australian counterpart as well and the AUD/USD closed at 0.9058, or 83 pips lower than a week earlier. Indices The upbeat employment data from the US prevailed over investors’ fears for an earlier tapering of the Fed’s stimulus measures and Wall Street recorded gains of about 1.5%. The S&P500 increased by 16.48 points, or 1% to 1,631.89, the Dow rose by 147.29 points, or 1% to 15,135.84, while the Nasdaq climbed by 35.71 points, or1%, to 3,479.38 points. On the UK’s economic scene, the FTSE100 rose by 3.37%, with the last quote on Friday being 6,428 points, as the Bank of England kept its interest rate at a record low (at 0.5%) and left its bond-purchasing programme of 375 billion pounds?. Other leading European indices also found an upstream movement and only the German DAX30 reported a negative weekly performance of -1.1%. Japan’s Nikkei225 also rose by the impressive 5.39% for the week, as support for most Japanese shares proved to be the good news from the US along with the depreciation of the yen. Commodities On the commodities market, trading in American oil futures (WTI0813) was rather bustling, which led to a rise in its price. The so called ‘black gold’ recorded a sharp increase of almost 7% and at the end of the session stopped at $103.18 a barrel. Gold and silver, on the other hand, lost 0.93% and 3.90%, respectively, of its value. What to expect this week? The new week is full of interesting economic news and data, and Monday starts rather busier than last week, kicking off with a Eurogroup meeting led by ECB President Mario Draghi and his speech later in the day. More data will come from Germany’s Industrial Production, the US Consumer Credit Change for May and the UK’s Housing Price Balance for June. Tuesday’s highlights are mainly from the UK as the country will reveal its Industrial and Manufacturing Productions, both for May, along with its Trade Balance and the estimate of GDP growth for the last 3 months. Wednesday will see the release of Australia’s Westpac Consumer Confidence, Germany’s Consumer Price Index and the FOMC minutes from their last meeting. Thursday will focus on Australia’s employment data, the Bank of Japan’s interest rate decision and the US initial Job claims. On Friday, attention will be focussed on Australia’s Home Loans, the Eurozone Industrial production and the University of Michigan Consumer Sentiment Index for July. Other than the economic calendar, more action will come from the US ‘Earnings Season”, with investors, traders and analysts highly anticipating the quarterly results by thousands of companies. Some experts have already expressed their low expectations of this quarterly season, compared to Q1 2013, as many corporations have scaled back their earnings forecasts in the previous months. Leading firms that are due to announce their financial statements this week include: Alcoa (AA) on Monday, after the end of the session, and JP Morgan (JPM) and Wells Fargo & Co (WFC) on Friday, before the stock market’s opening bell. Maria Timova Maria Timova DF Markets (Delta Financial Markets Ltd.) is a Forex and CFD broker based in London. The company is regulated by the Financial Services Authority (FSA register number 534027) and the protection of client funds is ensured by the Financial Services Compensation Scheme (FSCS). DF Markets is fully committed to provide individual and institutional investors with high quality financial services through implementation of the best business practices. Visit dfmarkets.co.uk Disclaimer: The Content of these charts and analyses does not constitute any form of advice or recommendation by Delta Financial Markets to buy, sell (or refraining from making) any trade or investment. You may wish to seek independent advice before entering into transactions. Delta Financial Markets shall not be held liable by you or any others for any decision made or action taken by you or others based upon reliance on or use of information or materials obtained or accessed through use of these technical analyses and charts. DF Markets assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. DF Markets shall not be liable for any special, indirect, incidental, or consequential damages. View All Post By Maria Timova Forex News Today: Daily Trading News share Read Next Year-on-year trends of the top traded currencies – June Guest 9 years Forex The single currency reported another week of lows against the dollar, losing over 180 pips. The European Central Bank left its interest unchanged at 0.5% in a bid to reassure investors' fears of a new economic crisis on the continent. He also stated firmly that the interest rate will be kept at this or lower level for an extended period, and did not rule out a negative interest rate on bank deposits at the ECB. President Mario Draghi said the bank will do everything possible to strengthen the European economy. His statement failed to support the euro whose losses… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.