Market News

Asian shares were largely higher on Tuesday morning, piggybacking on Wall Street’s record close after positive economic data boosted U.S. Treasury yields and the dollar.

Oil prices were lower on Monday morning after enjoying significant gains in Q3 after data indicated that OPEC’s September production increased more than expected.

This week will see a weightier although thinner news agenda, with key U.S. Non-Farm Payrolls data due at the end of the week, following monthly policy commentaries and bid rates due from the Reserve Bank of Australia.

The US Dollar eased back as FX traders focus on the likelihood of President Trump’s tax plan making its way through the US Congress.

For the fourth straight day, the US Dollar edged broadly higher largely on the backs of a hike in yields on US Treasury instruments.

The dollar was trading higher against most of its primary trading partners on Thursday morning after U.S. President Donald Trump proposed the biggest U.S. tax overhaul in thirty years.

The Pound Sterling dipped and struck a 2-week low versus the US Dollar after the greenback got a boost from the Federal Reserve Bank chairwoman.

In her comments on Tuesday, Federal Reserve Chair Janet Yellen discussed the need to continue with interest rate hikes despite uncertainty about the path of inflation

Earlier, the Pound Sterling had edged higher versus the Euro and struck a fresh 10-week peak, pushed higher by growing worries over Germany’s political future.

Turkish President Tayyip Erdogan’s threat to cut crude flows from Iraq’s Kurdistan region sent oil prices higher on Thursday morning, extending the commodity’s gains for the fifth straight day.

The Pound Sterling recovered from last Friday’s slide which came on the heels of the Prime Minister’s disappointing speech.

Angela Merkel has won a fourth term as the Chancellor of Germany, but she faces significant challenges in creating a coalition, an obstacle that has sent the euro lower during Monday’s Asian trading session.

This week will see a less busy news agenda, with monthly policy commentaries and bid rates due only from the Reserve Bank of New Zealand.

The Pound Sterling steadied on Thursday after the US Federal Reserve indicated a likely rate hike by year’s end.

The US Dollar was broadly higher and touched on a 2-month peak against the Japanese Yen after the Federal Reserve indicated that a December rate hike was still a possibility.