Market News

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.

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.