Market News

No major reports were printed today, so Asian session forex traders were all too happy to extend the previous session’s themes.

Asian shares consolidated recent gains and currencies kept to tight ranges on Wednesday as the opening of China’s Communist Party conference produced more in the way of aspirational politics than concrete policies.

Central bankers continued to make waves during the New York session, and this time it was hawkish Fed rhetoric that traders paid attention to.

The dollar rose to a one-week high against a basket of currencies on Tuesday on speculation that U.S. President Donald Trump was leaning towards nominating a Federal Reserve head who would be more inclined to raise interest rates at a faster pace.

Theresa May will make a pitch to fellow EU leaders in Brussels on Thursday as she tries to break a deadlock in Brexit talks that has left Britain’s future trading position up in the air.

U.S. President Donald Trump has a pool of five candidates to choose from for the next chair of the Federal Reserve and is likely to announce his choice before going to Asia in early November, a source familiar with the situation said on Tuesday.

Catalonia refused on Tuesday to bow to the Spanish government’s demand that it renounce a symbolic declaration of independence, setting it on a political collision course with Madrid later this week.

The pound got hit by bearish pressure during the morning London session, thanks to not-so-hawkish comments from a bunch of BOE officials, including BOE Guv’nah Carney.

News traders huddle up! Let’s take a look at Australia’s jobs report due this week and see if we can spot any trade opportunities.

European shares steadied on Tuesday, helped by some well-received earning updates from companies including food group Danone and education firm Pearson.

Japan’s Nikkei share average rose for an 11th straight day in choppy trade on Tuesday as a stable yen supported exporting automakers, while expectations that the ruling bloc will win the election later this month continued to underpin sentiment.

The Greenback gained a couple more pips against its major counterparts thanks to dovish and/or bearish reports from other major economies.

Oil prices clung to this month’s high on Tuesday after Iraqi forces seized the oil-rich city of Kirkuk from largely autonomous Kurdish fighters while Asian shares held firm on optimism about upcoming earnings.

Net bearish positioning on USD eased again. And the latest COT report shows that sentiment on USD improved mainly at the expense of JPY. However, EUR and CAD continued to resist.

Gold prices were steady early on Tuesday, after dipping below $1,300 an ounce in the previous session, as the dollar held firm on strong U.S. Treasury yields.

Brexit jitters were front and center of price action once more as U.K. PM May rushed to Brussels for a surprise meeting but failed to bring good news.

U.S. President Donald Trump will meet with Federal Reserve Chair Janet Yellen on Thursday as part of his search for a new candidate for her position, a source familiar with the planned meeting said.

Catalan authorities must drop a bid for independence by Thursday, the Spanish government said, moving closer to imposing direct rule over the region after its leader missed an initial deadline to back down.

Prime Minister Theresa May is unlikely to offer new concessions to Brussels over the terms of Britain’s divorce from the European Union when she meets European Commission chief Jean-Claude Juncker over dinner on Monday, her spokesman indicated.

The dollar hit intraday highs on Monday after an U.S. index of business conditions rose to a three-year high, though it held within broad ranges as investors looked towards a Federal Reserve meeting at the end of the month.