Market News

The dollar rose broadly on Friday after the release of U.S. factory orders and services sector data that beat estimates, reversing an earlier slide after an underwhelming October jobs report.

The Canadian economy added more jobs than expected in October as wages posted their biggest gain in 18 months, a sign that labor market slack could be tightening despite strong employment growth over the last year.

U.S. job growth accelerated in October after hurricane-related disruptions hurt employment in September, but there were signs that labor market momentum was slowing as annual wage gains sharply retreated.

Today is another NFP Friday, so trading conditions were relatively tight. However, it’s worth mentioning that both USD and GBP were able to find buyers while AUD continued to slide even lower.

British shares hovered near new highs on Friday, supported by a rally in global stocks and renewed pressure on sterling after the Bank of England’s interest rate hike helped the country’s leading exporters.

If the Bank of England’s first interest rate rise in over a decade was aimed in part at shoring up sterling and its impact on above-target UK inflation, then it has backfired already.

Asian shares took a breather on Friday as investors gave a guarded greeting to Republican plans for massive U.S. tax cuts, while welcoming the appointment of a sober centrist at the helm of the world’s most powerful central bank.

With not a lot of data on the docket, Asian session forex traders turned to Australia’s retail sales release and continuation of previous sessions’ themes for volatility.

Shanghai stocks were on track to close at one-month lows on Friday, as anaemic growth in China’s service sector in October broadened worries of an economic slowdown, prompting selling in almost all major sectors.

The dollar barely budged after Trump crowned Jerome Powell as next Fed head as traders appeared to focus on the uncertainty surrounding the tax plan.

The Bank of England raised interest rates for the first time in more than 10 years on Thursday but said it expected only “very gradual” further increases.

U.S. House of Representatives Republicans unveiled long-delayed legislation on Thursday to deliver deep tax cuts that President Donald Trump has promised.

President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term.

The dollar slipped against a broad basket of currencies on Thursday as investors took profits after the U.S. Federal Reserve left interest rates unchanged on Wednesday, as expected, with markets widely expecting a rate hike at its next meeting.

The Bank of England raised interest rates for the first time in more than 10 years on Thursday and said it expected only “very gradual” further increases over the next three years.

Oil prices were stable on Thursday as U.S. crude inventories fell despite a rise in production, while outside the United States an OPEC-led supply cut continued to tighten the market.

Bitcoin has left its peers, litecoin and ethereum, eating dust and is closing in on the $7000 mark. Can it go any higher from here?

Risk-taking was the name of the game during the Asian session, as traders priced in dovish news for the dollar and upbeat updates for the comdolls.

Gold rose to a one-week high on Thursday amid a weaker dollar, on increased demand from Chinese retail investors and as the market waited for the announcement of a new chair of the U.S. Federal Reserve, expected later in the day.

The Bank of England looks set to raise interest rates for the first time in more than 10 years on Thursday, despite economic growth appearing weaker than before any other increase in borrowing costs in the past 20.