Market News

Global currencies were trading fairly flat early on Thursday morning in Asia as traders wait patiently for Washington’s Friday deadline for imposing $34 billion of tariffs on Chinese imports.

The latest economic data from the UK, specifically the Services Sector PMI survey which was produced by Markit Surveys, showed an improvement in the June numbers with a reading of 55.1 against an expected flat reading of 54.0.

Oil prices headed higher on Wednesday, boosted by data out from the American Petroleum Institute which confirmed that U.S. crude inventories dropped by 4.5 million barrels last week.

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After several days of enduring a downtrend, the Pound Sterling edged higher against the US Dollar, supported by the return of risk appetite on news

The dollar traded higher against most of its primary trading partners early on Tuesday, boosted by political uncertainty in Europe which weighed on the euro.

Wall Street may have rallied on Friday, but investors are worried that things will turn south quickly as new waves of tariffs are implemented throughout the week.

For the first time in Mexico’s modern history, a radical left-wing candidate has won election to the nation’s highest office, the Presidency, bringing an end to decades of right/center right rule.

The Pound Sterling had moved lower while worried FX traders awaited the latest economic data from the UK.

Asian markets were mostly lower early on Monday morning as traders braced for a busy week ahead.

This week will see a heavier news agenda compared to last week, with central bank input due from the U.S. Federal Reserve and the Reserve Bank of Australia, plus major economic data releases primarily concerning the U.S. and Canadian Dollars

The Japanese Yen fell out of favor against the US Dollar as risk appetite improved during the Asian trading session.

MSCI’s broadest index of Asia-Pacific shares outside Japan declined to nine-month lowers on Thursday as traders continued to fret about U.S. President Donald Trump’s protectionist policies and how his impending tariffs will hamper global economic growth.

Oil prices were broadly higher just before noon in London as traders braced for an oil stock drop of 2.5 million barrels.

The Pound Sterling hit an 11-day trough against the common currency Euro as markets awaited a speech from the head of the Bank of England, Mark Carney.