Market News

A light trading day enabled the Greenback to extend its gains while a dip in commodity prices dragged commodity-related currencies lower across the board.

Japanese government bond prices dropped on Thursday, with the benchmark futures posting their biggest daily fall in three months, as investors anticipated possible fiscal expansion both in Japan and the United States.

I’m sure you’re well aware of how the forex OTC market is the largest one in the world and how the U.S. dollar is the one currency to rule ’em all, but have things changed recently?

New Zealand’s central bank on Thursday hinted at a lower growth outlook as a long construction boom loses momentum and against the backdrop of political uncertainty from an inconclusive national election.

Back in early 2000’s we considered such a warning as either total hogwash, or at the least a bit of hyperbole.

Brent prices fell on Wednesday while U.S. crude rallied, after oil stockpiles in the world’s top consumer unexpectedly drew down with refiners coming back online following Hurricane Harvey last month.

Putting the spotlight back on tax reform (and away from North Korea and the NFL) gave U.S. equities and the dollar a boost while the Canadian dollar retreated on a more cautious tone from BOC head Poloz.

The dollar on Wednesday climbed to a one-month high against a basket of currencies after strong economic data helped boost expectations for a U.S. Federal Reserve interest rate hike in December.

GBP jumped higher and was the best-performing currency of the session. However, NZD and USD were able to put up a good fight. JPY, meanwhile got burned during the session.

Sterling rose to a 10-week high against the euro on Wednesday, lifted by data showing British retail sales growth hit a two-year high during the first part of this month, which bolstered bets on a Bank of England rate hike in November.

G’day, forex mates! Australia’s data dump for the month is finally over and another RBA statement is coming our way next week, so it’s time to give y’all a snapshot of Australia’s economy.

Forex market players hit the snooze button in today’s Asian session trading as a lack of catalysts pushed them in the sidelines ahead of an eventful U.S. session.

China’s yuan fell to its weakest level in nearly a month on Wednesday but recouped its losses by midday as the market grew nervous over how much further the central bank will allow the currency to weaken.

Annual profits at China’s industrial companies rose 24 percent in August, accelerating from the previous month in an indication economic growth remains in good heart even as signs emerge of fading momentum following a robust first half.

Not so fast! Despite the buildup for another round of hawkish remarks from Yellen, the Fed head honcho hit the pause button on the dollar’s rally in admitting that the central bank may have been too optimistic. 

The Federal Reserve needs to continue gradual rate hikes despite broad uncertainty about the path of inflation, Fed Chair Janet Yellen said on Tuesday in remarks

French President Emmanuel Macron will attempt to marry his vision for Europe with the reality of German politics on Tuesday as he delivers a speech at the Sorbonne laying out plans for overhauling Europe’s single currency zone.

USD was the one currency to rule them all. EUR & GBP, meanwhile, got another good bashing and were the worst-performing currencies of the morning London session.

A Republican tax-cut plan due to be unveiled on Wednesday is expected to call for a new rate for “pass-through” businesses of about 25 percent, which would bring huge tax savings to millions of U.S. business owners, a lobbyist familiar with the negotiations said.

Rounding up this month’s batch of monetary policy announcements is the RBNZ’s decision due tomorrow. Think you’re ready to trade the event?