Market News

European shares inched up on Thursday as solid company earnings more than offset a weak energy sector and a slump in German industrial giant Siemens on delays to a planned unit listing.

Rosy economic data lifted European stock markets on Thursday even as broader world equity markets dipped.

The dollar fell against the yen, euro and Swiss franc on Thursday after weaker-than-expected U.S. services sector data worried investors ahead of jobs data and stoked doubts that the Federal Reserve would raise interest rates again in 2017.

All eyes were on the pound today, thanks to the BOE Statement. And unfortunately for the pound, the BOE statement triggered wave after wave of selling pressure.

The U.S. NFP report is not the only jobs report scheduled for release this Friday since Canada will be releasing its July Jobs Report as well.

The Aussie was dragged by weak Australian and Chinese data as well as overall risk aversion. Meanwhile, the dollar recovered some of its losses across the board.

Three top Democratic senators, in a rare show of bipartisanship, on Wednesday urged U.S. President Donald Trump to stand up to China as he prepares to launch an inquiry into Beijing’s intellectual property and trade practices in coming days.

The dollar inched away from a 15-month low versus a basket of currencies on Thursday, but was still looking wobbly due to doubts about whether there will be another U.S. interest rate rise this year.

Gold prices on Thursday drifted further away from seven-week highs hit earlier this week, as the dollar firmed on expectations the U.S. Federal Reserve could trim its bond holdings in September.

Oil dipped on Thursday as a rally that has pushed up prices by almost 10 percent since early last week lost momentum despite renewed signs of a gradually tightening U.S. market.

China’s yuan eased against the U.S. dollar on Thursday on rising corporate demand for the greenback, traders said.

Asian shares slid on Thursday, led by falls in South Korean tech shares, as investors locked in recent gains after Wall Street’s Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history.

Market players were unable to sustain the strong surge in activity during the latter part of June, leading to marginally lower volumes in July.

The Greenback’s performance was as mixed as a bag of nuts as several currency-specific factors came into play, including commentary from Fed officials.

CHF resumed its slide despite the risk-off vibes. Meanwhile, recovering oil prices gave CAD a boost. GBP demand was also notable, though.

The euro climbed to a fresh 2-1/2 year high against the dollar on Wednesday as investors added long bets in the single currency.

GBP/JPY the risk trade? The chart below shows cross-rate for the British pound versus the Japanese yen (GBP/JPY).

Greetings, forex friends! Another U.S. NFP report is coming our way this Friday. So get up to speed by reading up on today’s Event Preview.

The Kiwi took the most hits during the session as New Zealand surprisingly printed weak employment numbers.

Gold prices held early on Wednesday near a seven-week high struck in the previous session, as downbeat U.S. data weakened the prospect of the Federal Reserve pursuing an aggressive rate hike stance.