Market News

The US Dollar was higher versus the Japanese Yen in early Asian trading but is struggling against other major crosses.

Among the currencies from developed economies, the Kiwi Dollar took the largest fall in Thursday European trading after the Reserve Bank of New Zealand said last yesterday that a tighter monetary policy was likely not going to occur for at least two years.

Brent crude futures were trading up at $55.41 during Thursday’s Asian session, up 0.5 percent from their last close.

The Pound Sterling steadied versus the US Dollar after a relatively volatile day.

Asian stock prices retreated during Wednesday’s Asian session as investor confidence was further shaken by U.S. President Trump’s potential trade policies.

The Pound Sterling struck a 1-week trough versus the US Dollar as the Prime Minister works out a legislative plan that would enable Britain to leave the European Union.

The Reserve Bank of Australia announced on Tuesday that it would hold interest rates steady.

After nearly a month of declines, the US Dollar steadied in European trading thanks to unexpectedly upbeat labor data on Friday.

International Brent crude futures were up 20 cents per barrel during Monday’s Asian session, following concerns that U.S. sanctions against Iran could impact crude supplies.

There will be a lighter news schedule this week, compared to last week which was quite heavy. There is central bank input expected this week from Australia and New Zealand, as well as a few high-impact pieces of economic data, mostly from Canada and the U.S.A.

The US Dollar was mixed in Asian trading today but the Dollar Index is still likely to record losses for the week.

The Australian Dollar soared against the US Dollar after the release of data from the Australian Bureau of Statistics showed that the trade balance showed a surplus of some AUD 3,511 million in December, far more than analysts’ prediction of AUD 2,200 million.

Both Brent crude and WTI prices fell on Thursday after official data showed that U.S. stockpiles rose by 6.5 million barrels.

The US Dollar continues to struggle for traction in Asian trading and has just logged its worst January in 30 years on growing concerns that the US government is about to reconsider a “strong dollar” policy.

The U.S. dollar had the worst January in thirty years, an end which was solidified on the final day of the month after statements by Donald Trump’s administration that Japan and Germany have been devaluing their currencies in order to create a trade advantage over the United States.