Market News

The dollar was off to a topsy-turvy start on Monday then eventually ended mixed against its rivals. There wasn’t much on the data docket, so traders paid closer attention to speeches from central bankers instead.

The Canadian dollar turned weaker against its U.S. counterpart on Monday, as U.S. oil prices pulled back from a two-year high amid uncertainty about Russia’s resolve to extend output cuts at a meeting of producing countries this week.

The dollar shook off initial weakness to edge higher against a basket of other major currencies on Monday as traders braced for the resumption of deliberations on the U.S. tax plan and the confirmation hearing for Federal Reserve Governor Jerome Powell as the central bank’s next chair.

President Donald Trump was to meet with Senate Republican tax-writers on Monday at the White House to scope out an end-game strategy for sweeping tax legislation, ahead of a crucial vote on the Senate floor that could come as early as Thursday.

Sales of new U.S. single-family homes unexpectedly rose in October, scaling their highest level in 10 years amid robust demand across the country, offering a boost to the housing market.

The dollar drifted lower against a trade-weighted basket of its rivals on Monday, extending a three-week losing streak, though investors were wary of driving the currency lower before a couple of event risks this week.

Not much on the calendar, so traders apparently took directional cues from the risk-on vibes since the higher-yielding AUD & NZD outperformed while the safe-haven CHF took hits. JPY was resilient, though.

Southern Europe led a fall in bond yields across the euro area on Monday thanks to strength in the euro and reduced political uncertainty in the region after Germany moved a step closer to resolving the country’s political impasse.

Oil prices slipped on Monday, with U.S. crude easing from two-year highs on prospects for increased output.

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Central bankers say the success of bitcoin and other cryptocurrencies is just a bubble.

Risk aversion was the name of the game during the Asian session, as a lack of reports turned investors’ attention to the Asian bourses’ weak performances.

USD weakness was the major theme this past week. But can you guess which currency came out on top? Also, what drove the Greenback lower in the first place? And how did the other currencies fare? Time to find out!

Bank of Japan board member Hitoshi Suzuki said there is room to debate a fine-tuning of the central bank’s yield curve control (YCC) policy, the Mainichi paper reported, signaling the chance it may raise interest rates before inflation hits its target.

The dollar fell to a five-week low against a basket of currencies on Friday as investors grew optimistic about the strength of the euro zone’s recovery and lost appetite for the greenback.

EUR and GBP battled for supremacy during the session, with EUR edging out a victory in the end. Meanwhile, the risk-on vibes meant that JPY and CHF were in a race to the bottom. The two managed to outclass USD, though.

Sterling edged higher on Friday and is poised to post gains for a third consecutive week as markets interpreted latest comments from top EU policymakers as mildly positive for Brexit negotiations though gains were capped.

The euro hit a six-week high against the dollar on Friday, with investors optimistic about the strength of the euro zone’s recovery after strong economic data this week.

European shares held steady on Friday, underpinned by gains among heavyweight consumer goods firms as the pan-European STOXX 600 index was set to snap a two-week losing streak.

World stocks hovered below record highs on Friday, set to reverse two straight weeks of losses while the euro hit its highest levels in six weeks following stronger than expected economic data this week.