Market News

Oil prices stood near their highest in two and a half years, supported by strong data from top importer China amid thin trading activity ahead of the New Year weekend.

There’s no denying that 2017 wasn’t the most exciting year in terms of market volatility, but we’ve still got these notable industry developments over the past twelve months.

Oil prices dipped on Wednesday after hitting a near two-and-a-half year high in the previous session as a rally fueled by supply outages in Libya and the North Sea ran out of momentum.

The U.S. dollar fell to a 3-1/2 week low against a basket of currencies on Wednesday as traders bet more major central banks will begin reducing monetary stimulus in 2018 because of faster global economic growth.

Oil prices on Wednesday remained near two-and-a-half year highs from the previous session as the market outlook for 2018 is relatively tight, although the gradual resumption of flows through a major North Sea pipeline prevented crude from rising.

The dollar eased against a basket of currencies and fell against the euro on Wednesday in thin holiday trading, while a rally in commodity prices helped push the Canadian and Australian dollars to their highest levels in two months.

Bitcoin rose 15 percent on Tuesday, recouping about half of the losses it sustained last week, its worst since 2013, as investors who had missed out on earlier rallies bought the world’s biggest and best-known digital currency.

Oil edged lower towards $65 a barrel on Tuesday, but remained within sight of its highest level since mid-2015, as the looming restart of a North Sea oil pipeline offset support from OPEC-led supply cuts.

Oil is riding high this year, but the Loonie is currently on course to ending 2017 on a mixed note. What’s up with that? Well, the title says it all, but if you want the details to gauge if they will continue to affect the Loonie, then read on and find out.

Not much love from the Kiwi bulls this past year despite some positive risk-on vibes in the global market to finish off 2017. Why did the Kiwi break from the rest of the “risk assets” and fall to the bears in the end?

What’s up forex fiends! With the new year around the corner it’s time for our quick currency recaps in case you need to get up to speed to what has been a craaazy year. And to kick’em off, we’ll start with the Japanese yen!

The euro slipped against the dollar on Friday after Catalan separatists won a regional election, stoking concerns about the possible break-up of the euro zone’s fourth-largest economy.

The dollar hit a nine-day high against the yen on Thursday, after comments by Bank of Japan Governor Haruhiko Kuroda reinforced expectations that the BOJ was in no hurry to move away from its ultra-loose monetary policy.

Higher gasoline prices lifted Canada’s November inflation rate to its highest level since the start of the year, while consumer spending was unexpectedly strong in October, boosting bets the central bank could raise interest rates early in the new year.

As I scan the papers, and the web, I have noticed bank analysts and newsletter writers are becoming increasingly bearish on the US dollar.

Oil prices fell on Thursday after the operator of Britain’s Forties pipeline in the North Sea said it was expected to restart in early January after repairs over Christmas.

The Republican-controlled U.S. House of Representatives gave final approval on Wednesday to the biggest overhaul of the U.S. tax code in 30 years, sending a sweeping $1.5 trillion bill to President Donald Trump for his signature.

U.S. home sales increased more than expected in November, hitting their highest level in nearly 11 years, the latest indication that housing was regaining momentum after almost stalling this year.

The European Union wants a transition period after Brexit to end no later than the last day of 2020, according to the European Commission’s negotiating directives agreed on Wednesday.

Steady session today. That doesn’t mean that the session was a complete snooze fest, though, since AUD and NZD both found some buyers, likely because of the commodities rally. Meanwhile, CHF found sellers despite the risk-off vibes.