Market News

The Aussie and Kiwi Dollars edged higher against the greenback, recouping earlier losses and helped by upbeat sentiment in global equity and commodity markets.

U.S. stocks rose slightly on Tuesday following positive consumer and housing data, and Asian stocks were eager to follow suit on Wednesday.

The US Dollar edged up versus the Japanese Yen in light FX trade as a result of holidays throughout Asia and Europe.

The European Central Bank has told Italy’s beleaguered Monte dei Paschi that it must come up with 8.8 billion euros ($9.2 billion), a sum significantly higher than the original 5 billion euros that the bank was expecting.

Though many markets will be closed on Monday as a legal celebration of Sunday’s Christmas holiday, Asian markets opened to thin trading volumes.

There will be an extremely light news schedule this week compared to last week, due to the Christmas and New Year holiday season affecting many global financial centers and major economies. There is almost nothing of any high importance scheduled, just a few items of U.S. economic data.

The U.S. dollar continue its upswing on Wednesday, hovering near 14-year highs despite some profit taking.

In an unsurprising announcement at the end of its two-day policy meeting, the Bank of Japan announced on Tuesday that it will maintain the country’s negative 0.1 percent interest rate and the 10-year Japanese government bond yield target at around zero.

Europe’s index of the leading 300 stocks pulled back from Friday’s 11-month high on Monday, with Germany’s DAX down 01. Percent and France’s CAC down 0.2 percent.

It is that time of year again! As the Forex market is centered in London and North America, traders should pay attention to their holiday season of Christmas and New Year 2016.

Asian shares hovered near last week’s lows on Monday as a Chinese seizure of a U.S. underwater drone added additional pressure to already uncomfortable Sino-U.S. relations.

There will be a significantly lighter news schedule this week compared to last week, with major central bank input due from the Bank of Japan, and the Reserve Bank of Australia.

The U.S. Federal Reserve announced on Wednesday that it will raise interest rates a quarter point to 0.5-0.75 percent, an unsurprising note that sent the dollar to highs not reached in nearly 14 years, with the dollar index hitting 102.62.

With only hours to go before the announcement from the U.S. Federal Reserve as to whether it will raise interest rates, Asian shares traded slightly higher.

Oil prices retreated on Tuesday after hitting 18-month highs on rising Asian demand.