Market News

With only brief positive incursions, the Pound Sterling continued its slide versus the Euro as the ongoing negotiations for a Brexit agreement sideline potential investors.

The dollar reversed from 2 ½ year lows as Asian stocks headed higher on Wednesday morning and European markets looked for a positive open as well.

The Japanese Yen is just easing off earlier peaks versus the US Dollar; the Yen earlier hit a 4-month peak after a missile fired from North Korea passed over Japan, only the latest provocation by North Korea which has increased regional tensions

At the Jackson Hole symposium for central bankers which was held this past weekend in Wyoming, markets anxiously watch for any signs that Mario Draghi was prepared to let loose ammunition which would bring the Euro lower.

Hurricane Harvey has been battering the areas surrounding Houston and Galveston, Texas, all weekend, and civilians are not the only ones being hurt by the flooding.

This week will have a considerably heavier news agenda than last week. The agenda will be dominated by quite a lot of U.S. high-impact economic data centered on the end of this week, with the Non-Farm Payrolls data due Friday being key.

The dollar was trading relatively flat during Friday morning’s Asian trading session as traders wait for announcements coming out of Jackson Hole, Wyoming, from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi.

A senior Saudi official said on Thursday that his country is weighing the possibility of funding itself party in Chinese yuan, a move which would strengthen economic ties between the countries and give Riyadh more financial flexibility.

U.S. President Donald Trump’s threats to cancel the North American Free Trade Agreement (NAFTA) sent Wall Street lower on Wednesday, but Canada and Mexico, the U.S.’s trade partners, didn’t seem to take the comments as seriously as market analysts.

The global stock rally that started on Tuesday extended into Wednesday morning and analysts have reason to believe that the bullish run may still have some life left.

The GBP/USD pair edged near to a 6-week trough as the Pound comes under pressure from an economic that is nothing but uncertain.

Oil prices and Asian stock indexes edged moderately higher on Tuesday morning as traders remain cautious in advance of the Jackson Hole summit.

The common currency edged lower on Monday and is extending last week’s decline, the largest weekly fall since early June, as investors ponder the next move by the European Central Bank

Although August and September tend to be weak months for stock markets, global markets are facing additional challenges of late, stemming from a continued political turmoil in Washington and the financial announcements from the annual summit in Jackson Hole later this week.

This week will have a considerably lighter news agenda than last week.