Market News

British Prime Minister Theresa May faces a slew of criticism after a failed election campaign left her short of a parliamentary majority.

The British pound fell to a 7-week low on Friday after a shock election result cast doubt on Britain’s talks to leave the European Union.

Canada’s job growth accelerated in May at its fastest pace in eight months, and annual wage growth improved, prompting economists to suggest the Bank of Canada could raise interest rates sooner than anticipated.

European stocks were choppy on Friday after Britain’s election delivered no clear winner on the eve of Brexit talks, though a slump in sterling gave an edge to shares in UK exporters.

The dollar rose to a 10-day high against a basket of currencies on Friday, boosted by a weaker British pound after Prime Minister Theresa May’s Conservative Party lost its parliamentary majority in national elections.

The pound staged a broad-based recovery during today’s relatively calm morning London session.

With growth slowing and the formal start of Brexit negotiations only days away, the political uncertainty blown open by Britain’s inconclusive election could not have come at a worse time for sterling.

So the U.K.’s citizens have just voted their next set of Parliament members. What were the results and why should you care?

The votes are in and pound bears came out! With Theresa May’s Conservative Party juuust missing majority, forex traders got busy shorting the pound.

Here are comments from notable financial market analysts on the UK election results.

Sterling saw its biggest daily fall since January before recovering some ground on Friday after an exit poll unexpectedly showed Prime Minister Theresa May falling short of an overall parliamentary majority in Britain’s election.

Wall Street was mostly flat during the first half of the New York trading session as traders were glued to the tube, watching Comey’s Q&A session in the Senate, while the U.K. elections dragged sterling down.

The greenback held gains against a basket of currencies on Thursday as investors took stock of former FBI Director James Comey’s testimony to the U.S. Senate.

The number of Americans filing for unemployment benefits fell last week, unwinding half of the prior period’s jump and suggesting the labor market was tightening despite a recent slowdown in job growth.

The European Central Bank closed the door on more interest rate cuts on Thursday.

Super Thursday? What Super Thursday? Normally, volatility gets sapped during periods with lots of top-tier events, but today wasn’t a normal day it seems since many pairs were on the move.

Canada will release its latest jobs report this Friday. And if you’re planning to pillage some pips from the Loonie on that event, then you better read up.

Lots of reports, so little volatility! Asian session traders mostly shrugged off economic data as they wait for the “Super Thursday” events.

Japan’s economic growth in the January-March period was severely revised down from the original estimate because of a downward adjustment in business inventories.

The April slowdown in forex activity was followed by a shaky performance in May as traders saw a lot of market uncertainty.