Market News

The U.S. trade deficit widened more than expected in December to its highest level since 2008, as robust domestic demand pushed imports to a record high, potentially putting pressure on the Trump administration as it renegotiates trade deals.

Canada’s trade deficit unexpectedly ballooned to C$3.19 billion ($2.55 billion) in December as imports grew faster than exports for the second month in a row, data from Statistics Canada indicated on Tuesday.

The Greenback outpaced its peers during the morning London session, supposedly because the equities sell-off boosted demand for the Greenback. The pound, meanwhile, resumed its broad-based slide after recovering earlier.

World stock markets nosedived for a fourth day running on Tuesday, having seen $4 trillion wiped off from what just eight days ago had been record high values. Europe’s main bourses were down around 2 percent.

Move over, Super Bowl. Market players will have another nail-biter to look out for! Here’s what you need to know to trade this week’s trifecta of BOE catalysts on Thursday.

Risk aversion was the name of the game during the Asian session, as a lack of fresh catalysts kept the pressure on higher-yielding investments.

A rout in global equities deepened in Asia on Tuesday as inflation worries gripped financial markets, sending U.S. stock futures sinking further into the red after Wall Street suffered its biggest decline since 2011 in a vicious sell-off.

Did traders get an extra espresso shot or what? Price action was extra jumpy in the latest U.S. trading session, spurring a flight to safety that boosted the lower-yielding yen and franc.

The dollar rose against a basket of currencies on Monday as U.S. bond yields rallied on safe-haven demand stemming from a dramatic selloff on Wall Street, where the Dow Jones at one point fell more than 1,500 points.

Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and U.S. banks.

The European Central Bank is increasingly confident that inflation will rise on the back of rapid economic growth but currency market volatility is a potential obstacle, ECB President Mario Draghi said on Monday.

Oil prices neared their lowest in a month on Monday as rising U.S. output and a weaker physical market added to the pressure from a widespread decline across equities and commodities.

GBP took a heavy hit during the session, apparently as a reaction to the U.K.’s disappointing services PMI report. The risk-off vibes and pullback in bond yields, meanwhile, apparently allowed JPY to pull ahead of its peers.

Stock markets were routed around the globe on Monday, with European indexes opening lower and bond yields rising as resurgent U.S. inflation raised the possibility central banks would tighten policy more aggressively than had been expected.

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.

After last week’s major data dump, Uncle Sam will take a chill pill this week with only a couple of lower-tier reports. Will the tides change for the Greenback this week?

A lack of fireworks over NAFTA talks and oil prices left the Canadian dollar vulnerable to its peers last week. Will this week’s top-tier events keep the focus on the Loonie?

Higher bond yields and talks of higher inflation spooked risk-takers today, dragging the higher-yielding currencies lower. A word or two from BOJ officials limited the yen’s gains, however.

Will the BOE Super Thursday be as exciting as the Super Bowl or will market watchers be as indifferent as the kid who fiddling with his phone during the halftime show?

Economic talks between the United States and Japan, tackling topics from persimmons and potatoes to energy and infrastructure, have helped keep Tokyo clear of protectionist moves such as those that recently hit Chinese solar panels and South Korean washers.