Market News

This week is likely to see less market activity than last week, with important central bank input due concerning only the Canadian and New Zealand Dollars.

The US Dollar was finally recovering after being broadly lower late yesterday.

The British Prime Minister's last ditch attempt to gain approval for her Brexit plans has failed miserably and there is growing pressure on her to announce her resignation.

Turkey announced its decision to stop buying Iranian oil, despite previously signaling its unwillingness to comply with the American demands.

Though it seemed like only last week an end to the trade war between the U.S. and China was eminent, it now seems like a deal may not be on the horizon – and investors are exhibiting their concerns with broad selloffs.

The Prime Minister's latest attempt to assuage all parties so that they would approve her Brexit plan has disintegrated, sending the GBP/USD to a 5-month low, with the Pound also weakening against the Euro.

The British Prime Minister Theresa May said that the British parliament members have one last chance to support her deal.

The US Dollar continues to be pushed higher and remains close to a 4-week peak after the Trump administration granted Chinese chip maker, Huawei Technologies, licensing approval for US goods through mid-August.

The Australian Reserve Bank signaled that is aiming for a rate cut.

The US Dollar Index was trading close to a 2-1/2 week peak, getting support from higher Treasury yields on US instruments, as well as an increase in safe haven demand as a result of the worsening trade rift between China and the U.S.

The Pound Sterling made some headway in Monday trade as the Prime Minister makes one final attempt to pushing through her Brexit deal.

The Japanese economy expanded in the first quarter of 2019, rising against the analysts' expectations, who largely predicted an economic contraction during the first three months of the year.

Oil prices soared on Monday morning in Asia after Saudi Arabia’s energy minister announced that OPEC was inclined to maintain its production cuts after the original June deadline in order to reduce inventories gently.

This week is likely to see more market activity compared to last week, with important central bank input due concerning the U.S. and Australian Dollars. The U.S. / China trade dispute is likely to continue to dominate the market’s focus.

The US Dollar Index remained close to a 2-week peak, lifted by the latest data on the US economy coupled with a bounce in US Treasury instrument yields.