Market News

Gold prices gained amid a weaker dollar and a firmer euro on Thursday, with the market expecting the European Central Bank to taper monetary stimulus at a meeting later in the day.

Asian session forex traders took cues from the previous session and took some profits off ahead of today’s top-tier releases.

New Zealand Prime Minister Jacinda Ardern said on Thursday she will seek to renegotiate the Trans-Pacific Partnership (TPP) agreement in Vietnam in two weeks’ time.

The euro inched higher on Thursday as investors awaited details of the European Central Bank’s plans for scaling back its bond- buying programme, while the dollar took a breather after its recent rally.

Risk sentiment, monetary policy biases, global demand forecasts, tax reform prospects… How did all these influence intermarket correlations in the past few weeks?

All eyes and ears were on the Bank of Canada, which announced its decision to keep rates steady at 1.00% while signaling weaker prospects for a December hike.

Here are some key quotes from an appearance on Wednesday by Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins in Ottawa after the central bank left rates on hold.

The Bank of Canada held interest rates steady on Wednesday, as expected, saying that while less stimulus will be required over time the bank will be cautious as it considers future moves given the risks and uncertainties facing the economy.

New orders for key U.S.-made capital goods increased more than expected in September and shipments rose for an eighth straight month, suggesting business spending on equipment remained robust in the third quarter.

GBP crushed all opposition during today’s morning London session. The risk-on vibes, meanwhile, meant that JPY and CHF were particularly vulnerable to the pound’s onslaught.

Japanese Prime Minister Shinzo Abe’s economic agenda is shaping up after his landslide election win with a focus on steering firms to hike wages and keeping the economic recovery going with loose fiscal and monetary policies.

Britain wants an outline agreement with the European Union on the transitional arrangements that will apply after leaving the bloc by the first quarter of 2018, Brexit minister David Davis said on Wednesday.

The ECB will be giving its monetary policy statement and a presser tomorrow. And if you need a quick review of what happened last time, as well as a quick preview on what’s expected this time, then you better read up.

With not a lot to process today, Asian session forex traders got busy pricing in Australia’s weaker-than-expected CPI report.

President Donald Trump sought support on Tuesday in the U.S. Senate for his plans to cut taxes, stressing the need to help business and the middle class.

U.S. President Donald Trump used a luncheon with Senate Republicans on Tuesday to get their views on who he should tap to be the next leader of the Federal Reserve, according to senators who attended.

A bit of opposition for Trump’s tax plan in Senate dampened the dollar’s spirits early in the session, but the currency quickly recovered when Republicans threw their support for Taylor as next Fed head.

Gold prices dipped on Tuesday as investors anxiously awaited news on the next head of the U.S. Federal Reserve, while strong share markets and a calmer geopolitical environment sapped safe-haven demand.

Britain believes it can quickly agree a framework for a transitional agreement on exiting the European Union, Prime Minister Theresa May’s spokesman said on Tuesday, even as other stark differences over the Brexit timeline persisted.

A senior Republican senator called President Donald Trump “utterly untruthful” on Tuesday in an exchange of insults on Twitter hours before the president was to meet with lawmakers on Capitol Hill to build consensus for tax reform.