Market News

EUR and USD fought it out during today’s morning London session, with EUR coming out on top. GBP, meanwhile, was feeling a bit under the weather and returned its earlier gains.

Saudi Energy Minister Khaled al-Falih said on Tuesday that there was flexibility and options were open on an OPEC-led oil output reduction agreement.

The Bank of Canada will print its policy decision tomorrow. Will it raise its interest rates for a third time this year?

New Zealand’s new government plans to review and reform the Central Bank Act to possibly include employment, alongside inflation, as a dual target, Labour Prime Minister-elect Jacinda Ardern said on Tuesday.

No major reports? No problem! Today Asian session forex traders turned their attention to New Zealand’s new government and the next Fed Chairman.

Japan’s Nikkei share average edged up in choppy trade on Tuesday morning, on track for a record 16-day winning streak, while Yaskawa Electric tumbled after disappointing investors with tepid profit forecasts.

Large speculator became even less bearish on USD. And the latest COT report shows that sentiment on USD improved mainly at the expense of GBP, EUR, and AUD.

The dollar edged down on Tuesday as attention turned to who would be the next head of the U.S. central bank.

U.S. stocks closed lower on Monday after starting the day at record highs, weighed down by the tech and industrial sectors, while U.S. Treasury prices inched higher in thin volume.

The New York trading session was still a relatively quiet one since there were no major events on deck, but some risk-off flows turned up before the closing bell.

The dollar touched a three-month high against the yen on Monday, as investors bet the overwhelming election victory for Japan’s ruling party would mean a continuation of “Abenomics,” the ultra-easy policies that have kept downward pressure on the yen.

After back-to-back interest rates hikes, the Bank of Canada can stay on the sidelines for longer than first anticipated, with tighter mortgage rules slowing the housing market and uncertainty about NAFTA clouding the outlook.

Not much on the docket during today’s morning London session. Even so, there was action aplenty since USD caught a bid while CHF suffered as JPY steadied.

Japanese Prime Minister Shinzo Abe’s election victory lifted world stocks and the dollar on Monday, relegating concerns about Spain’s escalating political crisis to little more than a blip on the market radar.

Japan’s prime minister has vowed to make education and childcare a priority over ambitious fiscal reforms after winning a new mandate from voters on Sunday, as a rapidly-ageing population threatens to undermine his efforts to reflate the economy.

The British government must act urgently to secure a Brexit transition deal or risk losing jobs and investment in the country, business leaders representing millions of workers are due to warn.

International corporate giants like Apple should pay more tax, the leader of Germany’s most pro-business party said, calling for deeper cooperation within the European Union and in the group of 20 leading economies to bring this about.

Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.

With not a lot of data to price in, Asian session traders focused on the Japanese election results and overall risk appetite.

Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe’s ruling bloc gave a green light for more policy stimulus, while the euro eased as Spain’s constitutional crisis aggravated concerns about political unity in the region.