Market News

The dollar edged higher to a two-week high against a basket of major currencies on Thursday as investors covered some short positions against the greenback on a growing view that the currency’s recent weakness may have gone too far.

The number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years as the labor market tightened further, bolstering expectations of faster wage growth this year.

Oil prices fell to their lowest in six weeks on Thursday after data showed U.S. crude output had reached record highs and the North Sea’s largest crude pipeline reopened following an outage.

The pound found later buyers when the BOE’s meeting minutes revealed that the BOE may have to hike “somewhat earlier.” The Aussie, meanwhile, was dragged lower by RBA Guv’nah Lowe’s comments.

It was a mixed trading day for Asian session traders, as equities and risk sentiment saw a bit of recovery while commodities and comdolls continued to take hits

Finally some green for the Greenback! The dollar flashed its safe-haven badge as risk-off flows returned to the markets while the yen carried on with its ascent.

The U.S. dollar rose on Wednesday against most major currencies, even as gains on Wall Street dimmed the greenback’s safe-haven allure after days of equities volatility.

Sterling edged lower on Wednesday, heading back towards a 2-1/2 week low hit in the previous session as a central bank meeting on Thursday kept investors wary of adding positions aggressively amid a broad dollar bounce.

To secure a fourth term as chancellor, Angela Merkel is handing her Social Democrat (SPD) coalition partners control of the finance ministry, giving them license to spend a record budget surplus, and embracing their demands for European reform.

 U.S. Vice President Mike Pence vowed tough new sanctions against North Korea and called it the world’s most tyrannical regime on Wednesday, two days before he is due to attend the winter Olympics, along with two of the North’s most senior officials.

Some conservatives fear Scholz, who recently backed a big increase in the minimum wage, could raise government spending and reverse’s Schaeuble “black zero” policy of not incurring new debt.

The safe-haven Swissy had a tough time during the session, likely because of the returning risk-on vibes in Europe. The Greenback, meanwhile, edged out the Loonie to emerge as the top-performing currency of the morning London session.

World stocks clawed off two-month lows on Wednesday, though momentum was weak and U.S. futures suggested Wall Street could backslide again after rebounding from the biggest selloff in six years.

If you’re looking to pillage some quick pips from the Loonie before the week ends, then today’s Event Preview is just for you because Canada will be releasing its latest jobs report this Friday.

Turnaround Tuesday for the U.S. markets translated to Whatever Wednesday for Asian session traders, who saw mixed price action across the board.

Asian share markets took back some of their earlier gains on Wednesday as investors were unnerved by a drop in U.S. stock futures, underscoring lingering anxiety following steep losses in global equities over the past few days.

Australia has given its financial regulator sweeping powers to cap bank bosses’ pays, delay their bonuses and even ban them from the industry if found guilty of non-compliance, as it scrambles to restore trust in the scandal-hit sector.

Down but not out! The Greenback staged quite the comeback in the early part of the New York session but had trouble holding on to most of its winnings.

U.S. President Donald Trump said on Tuesday he would “love” to see another government shutdown as Republicans and Democrats in Congress worked to reach a budget deal that would prevent federal agencies from having to close their doors this week.

The Republican-led U.S. House of Representatives was set to vote on Tuesday on a short-term budget measure that would avert a rerun of last month’s three-day partial government shutdown, as lawmakers continued to grapple with divisive immigration measures.