Market News

The euro slipped to a one-month low on Tuesday after its worst day so far this year, as investors worried that months of coalition talks in Germany could weigh on the economy and would make closer euro zone integration difficult.

Asian session traders priced in North Korea’s latest “act of war” threat even as Aussie and Kiwi traders trade currency-specific catalysts.

China’s main stock indexes steadied on Tuesday after three days of losses as investors hunted for bargains in beaten-down property and resources shares.

Net bearish positions on USD increased further. And the latest COT report shows that USD lost a huge chunk of ground to GBP. However, USD was able to push back against EUR.

Risk-off vibes kicked into high gear as the New York session rolled along and traders got wind of headlines on a fresh batch of threats from North Korea.

Oil prices rose on Monday to their highest in eight months after major producers said at a meeting in Vienna the global market was well on its way towards rebalancing.

Not much on the docket but there was price action aplenty since EUR extended its losses while falling bond yields apparently allowed JPY to just shrug Abe’s call for a snap election.

Japanese Prime Minister Shinzo Abe said he would dissolve parliament’s lower house on Thursday for a snap election, as he seeks a fresh mandate to overcome “a national crisis.”

Gold prices dropped on Monday and hovered around one-month lows hit last week, as the U.S. dollar firmed and concerns over the Korean peninsula eased.

Uncertainties from weekend elections in Germany and New Zealand weighed on Kiwi and the euro. Meanwhile, markets expect Japan PM Shinzo Abe to call for a snap election.

The euro slipped on Monday after German Chancellor Angela Merkel won a fourth term but faced a fractured parliament as support for the far-right surged, while Asian shares pulled back, weighed by concerns about China’s economy.

Now that the election in New Zealand is over, and since another RBNZ statement coming up, I though that now would be the perfect time for a quick economic roundup for New Zealand.

All eyes were on USD because of the FOMC statement. However, Kiwi domination was actually the major theme this week. So, what drove forex price action?

Talks to update the North American Free Trade Agreement looked set to intensify on Saturday as U.S. negotiators prepared for the first time to unveil their demands on some of the Trump administration’s most challenging issues.

Canada’s annual inflation rate picked up in August, bringing it somewhat closer to the central bank’s target.

Oil prices were steady on Friday, as investors waited to see whether major producers meeting in Vienna would back an extension to output cuts beyond March next year.

The risk-on vibes during the session apparently gave the higher-yielding currencies a lift, especially AUD. However, the same risk-on vibes took a heavy toll on JPY.

What’s up with this weekend’s scheduled elections and why should forex traders care?

Risk appetite in Europe chilled on Friday after a new exchange of barbs between North Korea and the U.S. sparked a knee-jerk sell-off in politically sensitive metals.

Oil prices edged higher on Friday as the market waited to see whether major oil producers would extend supply cuts beyond March at a meeting in Vienna later in the day.