Market News

China slightly trimmed its final 2016 gross domestic product figure after scaling back an initial estimate of the services sector, but kept the annual GDP growth rate unchanged at 6.7 percent.

Oil prices fell on Friday, dropping away from highs last seen in 2015, as soaring production in the United States undermined the 10 percent rally from lows hit in December.

The euro and the pound continued their positive streak from the previous trading session while the Greenback barely gained support from upbeat data.

 U.S. private employers stepped up hiring in December and planned layoffs by American-based companies fell sharply, pointing to sustained labor market strength that likely keeps the Federal Reserve on course to increase interest rates in March.

The number of Americans filing for unemployment benefits rose for a third straight week last week, but that likely does not suggest a material shift in labor market conditions as data for several states, including California, were estimated.

EUR and GBP jockeyed for the top spot during the session. But in the end, EUR was able to win out against GBP. Meanwhile, AUD fared poorly despite the risk-on vibes, very likely because of the fall in gold prices.

A rally in European stocks picked up pace on Thursday, following the lead of Asian shares which hit a ten-year peak overnight, as services growth data for the euro zone confirmed a strengthening economy was bolstering corporate activity.

We’ll be getting our first NFP report of the year this Friday. And if you need to get up to speed on what happened last time and what’s expected this time, then you better gear up by reading up on today’s Event Preview.

Risk-taking was the name of the game during the Asian session, as a positive Chinese report pushed higher-yielding currencies higher.

Oil prices on Thursday hit fresh two-and-a-half year highs and were at levels last seen at the start of the commodity slump in 2014/2015, with markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.

The dollar edged up on Thursday after upbeat U.S. data and supportive minutes from the Federal Reserve’s latest policy meeting helped it shake off recent weakness.

Oil prices rose about 2 percent on Wednesday to the highest in 2-1/2 years, with buying spurred by a sixth day of unrest in OPEC member Iran and strong economic data from the United States and Germany.

Why, thank you FOMC! The U.S. dollar recovered from its weak start this week when the minutes of the December Fed meeting supported rate hike hopes.

Sterling slipped from a three-month high above $1.36 on Wednesday, with currency traders cautious about pushing the pound too far without any new catalysts.

U.S. factory activity increased more than expected in December, boosted by a surge in new orders growth, in a further sign of strong economic momentum at the end of 2017.

The dollar bounced on Wednesday, snapping a three-week losing streak as investors consolidated positions before manufacturing data and minutes of a December U.S. Federal Reserve meeting due later in the day.

AUD & NZD got a boost from the risk-on vibes during the session. Interestingly enough, however, JPY was also in demand and even managed to edge out the Kiwi near the end.

Euro area borrowing costs edged lower on Wednesday, stabilizing as a sweeping reform of EU financial market rules took effect a day after hawkish comments by ECB rate-setters drove a bond market sell-off.

Oil prices on Wednesday dipped away from the mid-2015 highs reached the previous session as high output in the United States and also Russia undermined ongoing efforts led by OPEC to tighten the market.

No economic release? No problem! Higher-yielding currencies took a breather from their gains today, as the dollar took back some of its losses from the previous session.