Market News

Sterling continues to be under heavy pressure a FX traders await the outcome of the race to replace Theresa May as Prime Minister.

After weeks of closed-door negotiations, the United States President Donald Trump together with congress representatives from both parties just closed a deal on Monday that would extend the time limit for the Debt Ceiling and the Budget.

Though formal results for the UK elections will only be announced on Tuesday morning, several prominent news outlets, including Reuters, have published expectations for Boris Johnson to be named the next Prime Minister of the United Kingdom.

The pound Sterling moved lower in Monday trade in London as investors hedged against further Pound weakness ahead of tomorrow's election.

The Confederation of British Industry recently published what they call a “Business Manifesto” which asks the next Tory leader to ensure a Brexit accord and implement a long term plan for the economy that would be based on private investing.

Oil prices were higher during Monday Asian trading session as traders showed concern about supply disruptions after Iran seized a British tanker last week.

This week is likely to see at least a little more market activity than last week, with central bank input due concerning the Euro and important U.S. GDP data due late in the week.

The G7 finance chiefs expressed their skepticism towards Facebook's attempt to issue a digital currency, as they consider that several regulatory problems should be solved before it could be launched.

According to a Japanese official, Japan is working hard on reaching an agreement with the United States, and that he expects to provide news about it in the future.

Spot silver hit its highest level recorded in four months against the U.S. Dollar yesterday, reaching a rate as high as $16.10 per ounce during the Tokyo session.

The Bank of Japan Governor Haruhiko Kuroda said on Wednesday that the bank governing board is going to debate its monetary policy this month

The European Central Bank board member Benoit Coeure said on Wednesday that the bank is ready to do what is necessary to keep the inflation levels near but below the 2% target.

The British Pound hit its lowest level recorded in twenty-seven months against the U.S. Dollar yesterday

The United Kingdom salaries rose according to recently published data by the Office for National Statistics, reaching its fastest growth pace in more than a decade.

Following the United States President statements yesterday, the Chinese claim that is misleading to claim that China needs to reach a deal with the U.S. because of their slowing down the economy, adding that the Chinese economic growth was "not bad".