Market News

Canada will  be releasing its retail sales report tomorrow. And if you wanna get up to speed on what happened last time and what’s expected this time, then it’s time to read up on another edition of my Event Preview.

Asian shares joined a global rally to reach their highest in a decade on Wednesday as strong world growth and rising corporate profits lured hordes of investors into equities, while oil prices jumped closer to a recent 2-1/2 year top.

Profit-taking was the name of the game during the Asian session, as a lack of major economic releases inspired traders to close their positions ahead of Thanksgiving holidays.

British finance minister Philip Hammond will announce on Wednesday how much he can afford to help unhappy voters as he faces a potentially sharp deterioration in the economy’s growth prospects.

The United States, Mexico and Canada failed to resolve any major differences in a fifth round of talks to rework the NAFTA trade deal, drawing a swift complaint from the Trump administration.

Federal Reserve Chair Janet Yellen stuck by her prediction that U.S. inflation will soon rebound but offered on Tuesday an unusually strong caveat: she is “very uncertain” about this.

Not even stronger than expected reports were enough to lift the Greenback’s spirits during the U.S. session as the currency took its cue from bond yields.

The United States, Mexico and Canada were wrapping up a fifth round of talks to update NAFTA on Tuesday with major differences yet to be resolved, casting doubt on whether a deal could be reached by the end of March 2018 as planned.

Oil edged up on Tuesday, supported by expectations that OPEC and other producing countries next week would extend output cuts.

The dollar turned broadly lower on Tuesday, moving in line with declining U.S. 10-year Treasury yields and consolidating gains from Monday in light trading ahead of Thursday’s Thanksgiving holiday in the United States.

The collapse of talks on a new German government means that the euro zone’s ambitious plans for deeper economic integration could be put on hold, euro zone officials said on Tuesday.

The risk-on vibes and rallying commodities meant that the higher-yielding AUD and NZD were both in demand. However, AUD outpaced NZD, likely because of RBA Guv’nah Lowe’s hawkish forward guidance.

Sterling strengthened to an eight-day high against the euro on Tuesday as political uncertainty in Germany kept the single currency under pressure while cautious optimism around Prime Minister Theresa May’s Brexit bill offer supported the pound.

European shares opened lower on Tuesday but quickly recovered as continued faith in the underlying strength of the European economy and a synchronized global expansion overcame negative trading updates, notably in Britain.

Oil prices rose on Tuesday as traders looked to a meeting next week at which major crude exporters are expected to extend production cuts, though rising U.S. output capped gains.

Turkey Day might be around the corner, but that doesn’t mean you can’t get a few pips before you close shop! Here’s how you can trade New Zealand’s retail sales release.

The euro steadied on Tuesday after notching up its biggest fall in nearly a month in the previous session as investors shrugged aside concerns of any fallout from the German political deadlock for now.

With not a lot of major data on the docket, Asian session forex traders only had to price in the RBA’s latest meeting minutes.

Large speculators eased their bearish bias on USD even further. And the latest COT report shows that positioning activity still broadly favors USD but GBP was able to take back some lost ground.

President Donald Trump put North Korea back on a list of state sponsors of terrorism on Monday, a designation that allows the United States to impose more sanctions.