Market News

U.S. President Donald Trump will face off with Democratic leaders of Congress on Thursday in a high-stakes White House meeting intended to bridge differences over a spending bill and prevent a government shutdown.

The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labor market that bolsters expectations the Federal Reserve will raise interest rates next week.

USD extended its gains during the session. USD strength wasn’t the only theme that continued to play out, though, since AUD and NZD both extended their losses, with AUD getting the worse of it.

The leader of Germany’s Social Democrats (SPD) was seeking on Thursday to convince his reluctant party that it has a duty to discuss forming a government under conservative Chancellor Angela Merkel, for the sake of German and European stability.

The dollar rose to its highest level in two weeks on Thursday over optimism the United States would successfully push through tax reforms, while world shares rebounded after two straight days of losses.

Asian shares hovered above two-month lows on Thursday as some high-tech bellwethers bounced back after a searing sell-off although softer oil and copper prices and uncertainty over U.S. policy kept many investors cautious.

A lack of economic reports didn’t stop Asian session forex traders from getting busy today, as they pushed the dollar higher while dragging comdolls lower.

The dollar edged up against peers on Thursday, shaking off earlier losses versus the yen, supported by signs that investors’ risk appetites were improving again and by optimism on U.S. tax reforms.

U.S. Senate Republicans agreed to talks with the House of Representatives on sweeping tax legislation on Wednesday, amid early signs that lawmakers could bridge their differences.

All eyes and ears were on the BOC statement, and it appears that most Loonie traders were disappointed by the central bank’s cautious tone.

The dollar edged higher against a basket of major currencies to hit a two-week high on Wednesday, as market participants grew more optimistic about lawmakers’ progress on U.S. tax legislation.

The Bank of Canada held interest rates steady on Wednesday, as expected, and took a cautious tone even as it said more rate hikes are likely in store amid diminishing slack in the labor market and signs of inflation pressures.

U.S. private employers created 190,000 jobs in November, down sharply from the month before and roughly in line with economists’ expectations, a report by a payrolls processor showed on Wednesday.

GBP weakness was the name of the game during today’s morning London session. However, that wasn’t the only game in town since CAD strength and AUD recovery were also noticeable themes.

Tremors in technology stocks spread to Europe on Wednesday, with weaker metals prices and flagging financials also tripping up a rally that had taken world equities to record highs.

Sterling edged towards an eight-day low on Wednesday as growing uncertainty over the progress on Brexit negotiations weighed on the British currency with some investors unwinding long positions after a recent rally.

The dollar edged broadly lower in a quiet market on Wednesday as concerns about a possible U.S. government shutdown offset optimism about progress on tax reform legislation.

Another NFP report is coming our way this Friday, which likely means more volatility for the Greenback. And if you need to read up on what happened last time and what’s expected this time, then this Event Preview will help you out!

With not a lot of major data on the docket, Asian session forex traders focused on Australia’s weak GDP report and concerns over a possible U.S. government shutdown.

Asian stocks slipped across the board on Wednesday as various factors including weaker metals prices and monetary policy concerns in China soured investor risk sentiment.