Market News

Though most policy experts see the Bank of England as pushing ahead with a rate hike at the upcoming policy meeting.

Oil prices ended July significantly lower and continued to decline into August after data released on Tuesday showed U.S. crude stockpiles rose unexpectedly.

The Pound Sterling has pushed higher against the US Dollar on growing expectations that the UK central bank will be raising interest rates when it meets later this week.

Asian stock indexes were trading lower to start the day on Tuesday after Wall Street failed to close higher.

With the Bank of England policy decision looming, the Pound Sterling edged higher but analysts say gains are likely to be capped given the backdrop of a potentially messy Brexit.

The U.S. dollar was steady at the start of the Asian trading session on Monday as traders eagerly awaited the central bank announcements that are expected later this week.

This week will see a much heavier news agenda compared to last week, with central bank input due from the U.S. Federal Reserve, the Bank of Japan, and the Bank of England.

The Euro was remains under pressure after the European Central Bank offered no surprises at the conclusion of its 2-day policy meeting.

Brexit worries have overshadowed even the Bank of England's positive outlook and weighed heavily on the Pound Sterling.

U.S. President Donald Trump met with European Commission President Jean-Claude Juncker on Wednesday, and reports from the meeting indicate that President Trump has agreed to hold back from implementing his impending automobile tariffs while the two sides continue negotiations for other trade challenges.

Gold prices headed higher during the New York trading session on Wednesday as traders continued to worry about global trade tensions, and how the disputes would impact global currencies, specifically the dollar.

The Pound Sterling earlier struck a 1-week peak on news that the UK Prime Minister would take charge of the Brexit negotiations.

The currency markets for the major Forex pairs traded in a narrow range on Wednesday morning in Asia as traders waited for a meeting between U.S. President Donald Trump and European Commission President Jean-Claude Juncker in Washington on Wednesday

The Pound Sterling managed to eke out gains against the US Dollar however analysts say that those gains will remain limited so long as there are doubts over the UK economy and while the Brexit negotiations continue to weigh.

Oil prices continued their decline on Tuesday morning in Asia as traders struggled with concerns about oversupply despite increasing tensions between the United States and Iran.