Market News

A weaker pound, buoyant overnight Asian shares and growing confidence in the financial sector helped pushed British shares higher and slightly ahead of their European peers on Monday.

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Would it be a stretch to say once again the sovereign will of the people has been thwarted yet again?

Dollar selloff was the name of the game, as risk appetite and a bit of positioning ahead of this week’s top-tier events pushed higher-yielding currencies higher.

The dollar probed four-week highs against the yen on Monday, underpinned by expectations of higher U.S. interest rates, while bitcoin seized the spotlight as futures of the cryptocurrency began trading.

New Zealand’s government on Monday named pension fund chief Adrian Orr as the new governor of the nation’s central bank, triggering a rally in the local dollar as markets prepared for changes to the monetary policy mandate.

The Greenback was the one currency to rule them all this week. But what pushed the Greenback higher. Also, do you wanna know which currency was at the bottom of the forex heap this past week? Well, read on and find out!

The Canadian dollar weakened slightly against a broadly stronger U.S. counterpart on Friday as data showed U.S. job growth increased at a strong clip in November, adding to the loonie’s sharpest weekly decline since late October.

U.S. job growth increased at a strong clip in November and wages rebounded, painting a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing.

Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40 percent in the preceding 48 hours, sparking fears the market may be heading for a price collapse.

All was quiet in the forex front, likely because traders were hunkering down for the NFP report. It wasn’t a complete snooze fest, though, since GBP returned its gains and was broadly lower. NZD, meanwhile, was nudged higher across the board.

The European Union should be ready to start negotiating details of a post-Brexit transition period with Britain early in the new year, a senior EU official said on Friday, but talks on future trade will take longer.

The European Commission said on Friday that enough progress had been made in Brexit negotiations to allow a second phase of talks on future relations to begin.

Oil prices edged up on Friday, helped by rising Chinese crude demand and threats of a strike in Africa’s largest oil exporter.

The European Commission said on Friday enough progress had been made in Brexit negotiations with Britain to allow a second phase of talks on future relations to begin, ending an impasse over the status of the Irish border.

It was all good in the forex hood today, as the U.S. averts a government shutdown while overall risk appetite boosted the higher-yielding currencies.

Sterling rose while the euro edged down on Friday, as traders waited to see if British Prime Minister Theresa May has finally clinched an elusive deal with Irish and EU officials on how they would run their post-Brexit Irish land border.

The Greenback carried on with its positive momentum from earlier in the day while sterling was boosted by a glimmer of hope for a Brexit deal.

Bitcoin rocketed to a lifetime high just shy of $16,000 on Thursday after climbing some 60 percent in just over a week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.

Oil prices climbed more than 1 percent on Thursday due to a threatened strike in Nigeria and as traders cover shorts after sharp losses the previous day brought on by an unexpectedly large rise in U.S. stocks of refined fuels.