Market News

Looks like the Aussie mostly took cues from risk sentiment and top-tier reports from other major economies last week. Will it have a chance to dance to its own tune this week?

Oil prices edged up on Friday as a rebound in the global equities market and a weak dollar supported crude’s recovery from last week’s slide.

Gold prices dipped on Friday, but still hovered near a three-week high, as the U.S. dollar index bounced from a three-year low and investors worried that U.S. inflation could heat up.

The dollar limped back from a three-year low against a basket of currencies on Friday but still marked its fifth weekly loss out of seven weeks this year, driving the euro up to its highest level since December 2014.

The pound got pounding from its peers when the latest U.K. retail sales report failed to impress. The Greenback, meanwhile, staged a broad-based recovery.

We’re only into the second month of the year and already some traders feel like they’ve aged years trading the recent surge in market volatility. What’s that about?

Thanks to a lack of fresh catalysts and most of the Asian markets taking a holiday today, Asian session traders ended up extending the previous session’s forex themes.

Japan’s government on Friday reappointed Bank of Japan Governor Haruhiko Kuroda for another term and chose an advocate of bolder monetary easing as one of his deputies, a potent signal to financial markets that the bank will be in no rush to turn off its massive stimulus program.

The dollar slipped to a three-year low against a basket of currencies on Friday, headed for its biggest weekly loss in two years, as bearish factors offset support the U.S. currency could take from rising Treasury yields.

Japan’s two cryptocurrency industry groups are planning to merge to form a self-regulating body, seeking to better safeguard investors after last month’s $530 million heist of digital money, sources involved in the negotiations said.

A couple of positive economic releases weren’t enough to prop up the Greenback, which chalked up yet another losing day to its peers.

U.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up.

There wasn’t much in terms of market-moving news or economic reports during the session. However, some currencies were clearly on the move, with the pound and the Aussie being the most noteworthy.

Sterling rose against the dollar on Thursday, cementing gains on the back of a broadly weakened dollar, with traders eyeing earnings data next week to give the pound fresh momentum.

A recovery rally in European stocks gathered pace for a second day on Thursday after investors brushed off a spike in U.S. inflation, turning their focus back to company earnings from heavy hitters including Europe’s largest aerospace firm, Airbus.

Risk appetite was the name of the game during the Asian session, though that didn’t stop the low-yielding yen from jumping higher against its major counterparts. What’s up with that?!

Oil prices rose more than 1 percent on Thursday to extend gains from the previous session, lifted by a weak dollar and Saudi comments that it would rather see an undersupplied market than end a deal with OPEC and Russia to withhold production.

Japan’s trading houses are scouting for assets as they enjoy their best profit outlook in six years, driven by higher prices for commodities from metals and coking coal to oil and natural gas.

Traders still showed no love for the dollar, even on Valentine’s Day no less! Dollar bears painted the town red as U.S. economic reports came in mixed.

Oil fell for a third day on Wednesday, dropping nearly 1 percent on concerns about rising U.S. production and another drop in financial markets after U.S. consumer prices rose more than expected.