Market News

Oil fell on Wednesday, with rising U.S. fuel inventories pulling U.S. crude back below $50 per barrel, while ongoing high supplies from producer club OPEC weighed on international prices.

Asian stocks paused near decade-highs on Wednesday as investors waited to see if strong earnings results from tech bellwether Apple would ripple out to component makers in the region.

The dollar clung to modest gains on Wednesday after bouncing from 15-month lows, benefiting from a pause in selling of the battered currency as investors begin positioning for key events this week, notably Friday’s U.S. employment report.

A surprise build in API oil stockpiles, along with falling European bond yields, combined forces to drag higher-yielding currencies down during the U.S. session.

A gauge of U.S. factory activity slid from a near three-year high in July amid a slowdown in new orders and consumer spending barely rose in the prior month, setting the stage for a moderate economic expansion in the third quarter.

A gauge of world stocks advanced on Tuesday after scoring its longest monthly winning streak in over a decade on signs of an improving global economy and solid corporate earnings, while the U.S. dollar bounced after touching 15-month lows.

A measure of U.S. factory activity fell from a near three-year high in July amid a drop in new orders and consumer spending barely rose in the prior month, setting the economy on a moderate growth path in the third quarter.

Britain’s pound climbed to its highest levels against the dollar since mid-September on Tuesday, as data showing UK factory activity growth recovered from a seven-month low in July eased concerns about an economic slowdown.

U.S. Treasury yields rose on Tuesday as buying demand from month-end extensions passed and U.S. economic data contained no significant surprises.

The dollar edged higher on Tuesday as investors consolidated positions, a day after fresh political turmoil in Washington caused the U.S. currency to post its biggest monthly drop in 16 months.

Copper prices held near two-year highs on Tuesday, supported by expectations of stronger demand from top consumer China, where a government-led infrastructure push has led to robust activity in the construction sector.

Gold prices edged lower from their highest levels in almost seven weeks on Tuesday as the dollar rose and investors locked in profits from bullion’s rally last month.

Oil slipped from a two-month high near $53 a barrel on Tuesday as ample global supplies countered strong demand and forecasts of another drop in U.S. crude inventories.

CHF had a good run, even though risk appetite was the dominant sentiment. Meanwhile, AUD and NZD fared rather poorly, likely because of the commodities rout.

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Large players increased the value of their net short positions on USD. And the latest COT report from the CFTC shows that USD lost ground mainly to CAD.

The dollar inched up from a 2-1/2 year low versus the euro on Tuesday, but its outlook remained clouded by U.S. political turmoil.

Asian shares ticked up in early Tuesday trade as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in robust health with inflation staying well contained.

Bitcoin’s underlying software code could be split on Tuesday to create a clone called “Bitcoin Cash,” potentially providing a windfall for holders of the digital currency.