Market News

Euro zone stocks made modest gains on Thursday while Britain’s FTSE 100 slipped again as sterling climbed, with oil majors teetering as investors eyed the OPEC meeting later in the day, and tech the biggest weight as worries of a peak spread to Europe.

British consumers, the main drivers of the economy, are their least confident since just after last year’s Brexit vote, and business morale has also softened, surveys showed on Thursday, adding to signs of a further economic slowdown in 2018.

The dollar held steady on Thursday but was set for a monthly loss against a basket of currencies as investors warily watch progress on U.S. tax reform legislation, while sterling stood tall on optimism a Brexit accord would be reached.

The U.S. Senate on Wednesday took a step toward passage of tax legislation that is a top White House priority, setting up a likely decisive vote later this week.

The Greenback managed to chalk up some gains against most of its counterparts as the Senate version of the bill advanced, but the currency was still on shaky footing.

Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion.

The Canadian dollar weakened to a nearly four-week low against its U.S. counterpart on Wednesday as oil prices fell, while data showing strong American economic growth helped the greenback hold onto this week’s gains.

Sterling rose to a two-month high after European Union diplomats said that Britain has moved “close” to EU demands over Brexit, although concerns that differences remain on key conditions capped the currency’s gains on Wednesday.

The U.S. economy has gathered steam this year and will warrant continued interest rate increases amid a global recovery, Federal Reserve Chair Janet Yellen told congressional leaders on Wednesday.

The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending.

German inflation accelerated more quickly than expected in November, the Federal Statistics Office said, as the economy and labor market boomed — supported by loose euro zone monetary policy — and food and fuel costs rose.

Price action was rather wonky during the session since EUR got kicked lower while USD was bid higher despite the lack of catalysts. NZD strength was a theme as well, but that made more sense because of the risk-on vibes.

Howdy! If you’re looking for catalysts that will likely give you a chance to pillage some quick pips from CAD, then heads up because Canada will be simultaneously releasing its jobs report and GDP report this Friday.

Virtual currency bitcoin soared to an all-time high above $10,000 on Wednesday on major exchanges and digital currency indexes, including the widely followed Luxembourg-based trading platform BitStamp.

Asian session forex traders didn’t have a lot of news reports to work with, so they mostly focused on extending the previous session’s themes.

Asian shares rose and the dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts, upbeat economic data and bank-friendly comments from the would-be head of the Federal Reserve.

Oil prices eased on Tuesday, weighed down by uncertainty over the outcome of an OPEC meeting this week at which an extension to its price-supporting oil output cuts will be discussed.

Virtual currency bitcoin soared to an all-time high above $10,000 on Tuesday on some smaller exchanges and digital currency indexes, but remained just below that milestone in major trading platforms such as Luxembourg-based BitStamp.

The U.S. dollar reasserted its dominance against most of its major counterparts as tax reform came back in the spotlight. However, the currency stalled from its climb when North Korea conducted another missile test.

U.S consumer confidence surged to a near 17-year high in November, driven by a robust labor market, while house prices rose sharply in September, which should underpin consumer spending and boost economic growth.