Market News

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.

Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lackluster demand.

Australia’s economy expanded at the fastest annual pace in over a year last quarter thanks to a long-awaited jump in business investment, but worrying weakness in household spending cast a cloud over the outlook for growth.

The Greenback had a rough day and so did the rest of Wall Street as Uncle Sam’s numbers all came in the red.

Just hours after a Brexit deal crumbled, British Prime Minister Theresa May came under pressure on Tuesday from opposition parties and even some allies to soften the EU divorce by keeping Britain in the single market and customs union after Brexit.

The U.S. Senate Banking Committee on Tuesday voted to approve Fed Governor Jerome Powell to lead the Federal Reserve, sending his nomination to the full Senate for a vote.

The U.S. trade deficit increased more than expected in October, hitting a nine-month high as rising oil prices helped to boost the import bill, suggesting that trade could be a drag on growth in the fourth quarter.

Canada’s hard-hit export sector showed unexpected signs of strength in October, posting the first increase since May on higher shipments to the United States while imports continued to disappoint.

Oil was in the red, but CAD somehow got bid higher. GBP, meanwhile, extended its losses in the wake of yesterday’s disappointing news that Theresa May failed to hammer out a deal. The pound’s slide slowed, though.

Oil slipped towards $62 a barrel on Tuesday as investors took profits in the wake of OPEC and other producers’ pact to extend output cuts, although an expected drop in U.S. crude inventories lent support.

European shares surrendered on Tuesday to sliding cyclicals, as a rotation out of tech stocks gathered pace and dwindling enthusiasm over a U.S. tax bill weighed on financial services.

In case you haven’t noticed, it’s not just economic reports that are moving the major currencies lately. Here are market movers that you need to watch out for.

Oil prices fell on Tuesday ahead of U.S. crude inventories data, as the market weighed the impact of rising U.S. crude output versus last week’s deal between OPEC and other crude producers to extend output curbs.

Wealthy Russians facing the prospect of targeted U.S. sanctions next year have floated the idea of a special treasury bond to facilitate favorable terms for bringing their cash home, three sources familiar with the scheme said.