Market News

Market updates for May 12: Stocks fall; greenback rises, gold and oil consolidate

Oil futures edged higher on Tuesday afternoon in Asia after Saudi Arabia made an unexpected announcement that it would deepen production cuts in June

The Pound Sterling edged lower against its US rival, a repercussion of higher yields on US Treasuries which helped boost demand for the greenback.

The European Central Bank's Executive Board member, Isabel Schnabel said on Monday that only the European Court of Justice has a saying regarding the actions of the ECB

Market updates for May 11: Markets remain optimistic as WTI crude oil stabilizes near $25.

Non-farm payroll reports showed that the U.S. unemployment rate hit 14.7 percent in April,

The US Dollar came under heavy pressure in Tokyo trade as FX trades await the release of US labor data, specifically, April's Non-Farms Payroll Report.

Some optimism from the Bank of England helped to push the Pound Sterling higher against the Euro and US Dollar during early London trade today.

The Bank of England decided to keep its cash rates on hold at 0.1 percent and decided to set its bond purchasing program target at 645 billion pounds.

Oil prices edged modestly higher on Thursday after falling 2 percent on Wednesday to snap a five-day winning streak.

Market updates for May 7: Global stock markets falter as the U.S. reports another 2 million+ unemployment claims yesterday.

The Pound Sterling continues to have trouble finding its footing ahead of tomorrow's meeting of Bank of England policymakers.

The Italian Prime Minister Giuseppe Conte said on Wednesday that because of the independence of the Central Bank, no constitutional court can decide what the bank can do or not.

Oil futures were modestly lower on Wednesday afternoon in Asia, after seeing five consecutive days of gains for the first time since July 2019.

May 6 updates: Global stock markets remain strong on optimism that the first wave of the coronavirus pandemic has peaked in most OECD nations.