Market News

The Greenback didn’t wake up on the right side of the bed on Monday’s New York trading session as it was bogged down by a triple-whammy of sorts.

The U.S. dollar hit a more than 2-1/2-year low against the euro on Monday on month-end portfolio adjustments and uncertainty over the U.S. political outlook .

Oil prices rose to two-month highs on Monday, ending the strongest month of the year for crude futures, boosted in part by expectations of U.S. sanctions against Venezuela’s oil sector and as supply concerns have waned in recent weeks.

The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing, while selling in Facebook, Alphabet and other technology companies checked the S&P 500 and pulled the Nasdaq lower.

A gauge of world stocks was little changed on Monday, as an advance in European shares faded and U.S. equities dipped, while the U.S. dollar slipping to near 13-month lows against other major currencies.

Britain’s pound traded above $1.31 on Monday, close to a 10-month high, as investors eyed this week’s Bank of England “Super Thursday.”

Oil analysts have cut their 2017 crude price forecasts for a sixth straight month in July, citing concerns over compliance with an OPEC-led deal to limit production that could dampen the market’s attempt to rebalance.

Price action was rather choppy during the session but GBP was able to nudge higher across the board while CHF suffered from selling pressure.

Heads up, Aussie traders! We’ve got another batch of top-tier economic reports to be released from the Land Down Under this week.

Risk aversion was the name of the game in early Asian session trading, but traders soon kept calm and traded on as relatively strong reports came out.

Data in the coming week should confirm the euro zone economy is running hot, although inflation figures could throw cold water on ECB plans to start tightening policy.

Asian shares turned positive on Monday, shrugging off a new North Korean missile test as investors turned their attention to a raft of global economic data and earnings this week.

Japanese Prime Minister Shinzo Abe spoke with U.S. President Donald Trump on Monday and agreed on the need for further action on North Korea.

Growth in China’s manufacturing sector slowed marginally in July, reinforcing expectations the world’s second-largest economy will cool in coming months.

The dollar struggled on Monday, wallowing near a 2-1/2-year low against the euro, weighed down by U.S. political uncertainty and uninspiring U.S. data.

Asian shares dipped on Monday following a lackluster end to last week globally on some earnings disappointments.

Oil prices rose to their highest levels since May early on Monday as a dip in U.S. output tightened the market and the threat of sanctions against Venezuela kept traders on edge.

Japan’s factory output rebounded in June from a decline in May.

British businesses are their least optimistic about the economy in six months and their overall confidence levels remain slightly below average, a survey showed on Monday, adding to a lackluster outlook for the economy.

If you’re wondering how Australia’s economy has been doing recently, then today’s Economic Snapshot may be just what you need.