Market News

U.S. House Republicans proposed on Tuesday to delay or suspend several taxes under former President Barack Obama’s healthcare law, including a tax on medical devices and the so-called “Cadillac” tax on generous health insurance plans.

Crucial details of the Republican tax plan, including the proposed corporate rate, were in flux late on Tuesday as negotiators from the U.S. Congress rushed to finalize the plan ahead of a self-imposed Wednesday deadline.

Slow and steady does it! The Greenback edged higher for the most part of the session thanks to upbeat PPI, FOMC expectations, and tax reform progress.

Virtual currency bitcoin hit another all-time peak on Tuesday, two days after the launch of the first ever bitcoin futures on a U.S. exchange and ahead of the start of another futures contract next week.

The U.S. dollar rose to almost one-month highs against a basket of currencies on Tuesday as the Federal Reserve began a two-day policy meeting where it is widely expected to raise interest rates for the fifth time since 2015.

U.S. producer prices rose in November as gasoline prices surged and the cost of other goods increased, leading to the largest annual gain in nearly six years.

Oil prices jumped to their highest in more than two years on Tuesday after the shutdown of a North Sea pipeline knocked out significant supply from an already tightening market.

Price action was rather choppy during today’s morning London session. Aussie pairs were on the move, though, since the Aussie traded broadly higher against all its peers.

Will the Fed really raise its rates one more time this year? Let’s answer some of the more common questions around the release and see if you can make pips from it!

Regardless of a return to solid economic growth, the risk of sharp appreciation in the yen means Japan’s central bank would be in no rush to exit its ultra-loose monetary policy, say sources familiar with the bank’s thinking.

The major currencies mostly stayed in Snoozeville for most of the Asian session as they wait for top-tier events scheduled in the London session.

The dollar held firm near two-week highs versus a basket of major currencies on Tuesday, with traders awaiting the U.S. Federal Reserve’s policy meeting this week for fresh catalysts.

Brent crude oil prices jumped above $65 per barrel for the first time since 2015 after the shutdown of the Forties North Sea pipeline knocked out significant supply

Bearish bias on USD increased further. And the latest COT report shows that positioning was broadly unfavorable for USD. However, the COT report also shows that the Greenback was able to push back against CAD and JPY.

Dollar bulls seem to be getting into position ahead of the main economic calendar events this week while the pound carried on with its slide from earlier in the day.

The Canadian dollar was little changed against its U.S. counterpart on Monday as investors awaited this week’s Federal Reserve interest rate decision and a speech by Bank of Canada Governor Stephen Poloz.

Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency’s blistering price gains to slow in the coming months, even as it blasted above $17,000 to a fresh record high in the spot market.

The U.S. dollar weakened on Monday, weighed down by tepid inflation data from Friday’s jobs report, while safe-haven currencies the Japanese yen and Swiss franc gained after an explosion rocked one of New York’s busiest commuter hubs.

Oil prices edged higher on Monday, reversing earlier losses, after an explosion in New York refocused the market on the geopolitical risk.

The forex calendar for today’s morning London session was pretty barren, but there was enough action to keep the session interesting, with the yen broadly higher and CAD and GBP broadly lower.