Market News

It’s been a few months since my last intermarket correlations update, so I think it’s time I give y’all a quick snapshot of which relationships are holding up and which ones are breaking down.

The dollar continued its rebound from three-year lows on Tuesday, on the view that the currency was due a modest correction after a sharp decline in recent weeks, and as traders eyed a large U.S. debt auction.

Brent crude oil prices eased on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures contracts to a six-month low.

GBP got a bullish infusion from a Brexit-related report. The Kiwi gave the pound a run for its money, though, likely because the risk-on vibes. However, the same risk-on vibes likely weighed down on the safe-haven Swissy.

News traders huddle up! Tomorrow at 9:30 am GMT the U.K. will print its labor market numbers for December. Will this week’s reports convince the BOE to raise its rates before the second half of the year?

There were hardly any market-movers during the Asian session, so forex traders focused on pricing in RBA’s latest meeting minutes. Meanwhile, the dollar extended its gains from the previous session.

Trading was relatively subdued on Monday’s New York session as most market participants were out enjoying the President’s Day holiday. The Greenback took advantage of this to recoup some of its losses in the previous week.

Gold prices were down slightly on Monday as the dollar clawed back some recent losses and stocks rose, but worries about U.S. inflation kept buyers in the metal.

Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters.

Markets still seem to be in snooze mode as Chinese markets are closed for the entire week while U.S. banks are also closed for the President’s Day holiday. 

Start your trading prep with a quick review of last week’s forex action from my buddy Pip Diddy, an overview of catalysts lined up for the major currencies, and the charts to watch this week.

ICYMI, the Greenback was last week’s biggest loser. What’s up with that?! More importantly, will this week’s set of economic events be enough to push the dollar higher?

The Loonie benefited from higher oil prices last week but still ended weaker against everything but the dollar. Will it dance to its own tune this week?

Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that was sparked by fears of creeping inflation and higher borrowing costs.

Risk-taking was the name of the game during the Asian session, as market players took the opportunity to scoop higher-yielding bets on a quiet trading day.

Mixed data and resurfacing Brexit concerns left the pound with mixed price action for the previous week. Can the top-tier catalysts this week lead to clearer direction?

Medium-tier data from the euro zone came in mostly stronger than expected, but doubts about the German coalition and ECB tightening came into play. Will the ECB minutes set the record straight?

Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and by worries over tensions in the Middle East.

The yen left its major counterparts eating dust last week. Can it sustain its bullish momentum this week? Here are potential catalysts for the low-yielding currency.

Much like the Aussie, the New Zealand dollar took cues from overall risk sentiment. So why did it look like it performed better than the other comdolls?