Market News

Oil prices started the week lower during Monday’s Asian session as investors remained concerned that the increase in U.S. production would lead to a new supply glut.

This week will see a heavier news agenda, with major central bank input expected from the U.S Federal Reserve, from the Bank of England, and from the Reserve Banks of Australia and New Zealand

The US Dollar Index continued to climb during the Asian trading session on Friday as investors’ concerns abated over a possible trade war induced by the Trump administration.

The Japanese Yen Moved higher versus the US Dollar as concerned FX traders sought out the safe haven currency.

Asian shares struggled to find direction on Thursday afternoon as traders tried to make sense of the trade negotiations and the proposed U.S. tariffs that are concerning global leaders, business owners and investors.

Speaking in Frankfurt on Wednesday, European Central Bank President Mario Draghi reconfirmed that despite renewed confidence about the region’s inflation outlook.

The Pound Sterling earlier struck a 3-week peak versus the US Dollar during London trading, largely the result of the Dollar’s broad softness in the wake of the Rex Tillerson dismissal yesterday.

U.S. President Donald Trump is mulling the possibility of tariffs on up to $60 billion on 100 products of Chinese imports in the telecommunications and technology sectors.

Along with the Euro and the Pound, the US Dollar surged against the Japanese Yen and approached a 2-week peak on the heels of news of a geopolitical scandal brewing in Japan.

Oil prices were broadly lower during Tuesday’s Asian session as investors weighed concerns that increased U.S. production could keep inventories high and maintain pressure on prices.

South Korean Finance Minister Kim Dong-yeon announced on Monday that “[South Korea] will make clear what our stance is […and] deploy all possible means to respond to U.S. steel tariffs measures and make an all-out effort.”

The common currency Euro moved higher during trading on Monday as investors’ worries over a brooding trade war seem to have ebbed.

Asian stock markets started the week higher on Monday morning after Friday’s strong U.S. jobs eased inflation fears and increased risk appetites.

This week will see a much lighter news agenda, with major central bank input expected only from the Swiss National Bank, but there will be a British government budget release and some important U.S. inflation retail sales data released.

The Japanese Yen fell against the US Dollar during the Asian trading session on Friday on hopes that the nuclear standoff with North Korea might now be abating.