Market News

The latest Reuters poll regarding the globe's major currencies suggest that the US Dollar will continue to be favored by FX traders overt he next several months.

Pound traders remain skittish though there appears to be some hope that a hard crash out of the European Union might have been averted thanks to Parliamentary wrangling.

When asked about Germany's economic outlook, Stephen Scherr, the Goldman Sachs Chief Financial Officer said that Germany is on the verge of an economic slowdown.

Asian benchmarks were broadly higher on Thursday morning after it was announced that the U.S. and China would resume high-level trade negotiations in early October.

The British opposition, together with some "rebellious" conservative MPs, defeated Boris Johnson in a 328 to 301 vote, as an attempt to stop a no-deal Brexit and to give them the chance to carry out their plan through to completion on the next parliamentary session.

The Pound Sterling managed to recover some of its recently lost ground after Parliamentarians took back control of the Brexit outcome.

U.S 10-year Treasury note yields slumped 3.4 basis points on Tuesday to 1.441 percent, their lowest rate since July 2016.

Against the US Dollar, Sterling moved below the $1.20 level during London trade, striking a 3-year trough, as FX traders succumb to sell pressure on worries over Sterling's future after the Brexit.

The British Foreign secretary Dominic Raab commented that the only reason there has not been progressing on delivering the Brexit in an orderly manner is that the EU leadership senses that the current conflict in the British Parliament would either delay or cancel the Brexit.

Asian stock markets were mixed on Tuesday morning, pressured by weak data out of South Korea, China and Australia put traders on edge and the increased tensions between the U.S. and China added fuel to the fire.

Ahead of tomorrow's return of lawmakers to the UK Parliament, FX traders are awaiting the sparks that are expected to fly between them and the Prime Minister.

Japan's manufacturing activity went down in August according to data published by the Bank of Japan.

Oil production rose in August, data from Reuters showed on Friday, as OPEC produced nearly 29.61 million barrels per day, up 80,000 barrels per day from July’s production level.

September 1st is here. That means four more months of the year, the first week of school, and the implementation of new tariffs in the U.S.-Sino trade war.

This week is likely to see a higher level of market activity compared to last week, with central bank input due concerning the Canadian and Australian Dollars, plus U.S. Non-Farm Payrolls.