Market News

Oil prices increased during the Christmas Eve session after the Russian Energy minister backed the latest OPEC decision to trim the oil supply.

The Pound Sterling is recovering steadily from last week's decline, while the US Dollar remains close to a 2-week peak following last Friday's upbeat economic data.

The European Central Bank governing council member Klaas Knot expressed his discomfort regarding the current low-interest-rate environment

Starting on January 1, 2020, China plans to cut import taxes on some 850 products that are in short supply in the country, including frozen pork and avocados.

In Asian trade, FX traders' mounting concerns over a chaotic Brexit had earlier sent the Pound Sterling down against the greenback.

Concerns that the UK is going to be forced to withdraw from the EU at the end of 2020 without a favorable trade agreement has pushed the GBP/USD to the $1.31 level.

The Bank of Japan decided to hold the interest rates steady, as the economic outlook improved, leaving the short-term cash rate at -0.1 percent

Donald Trump became the third U.S. president to get impeached by the House of Representatives, but the move had surprisingly little impact on the dollar.

The US Dollar steadied versus key rivals, namely the Euro and British Pound, during Wednesday trade in London

According to the Office for National Statistics, Britain's inflation rose 1.5 percent (year-to-year) in November for the second consecutive month (the lowest figure since November 2016),

*The British pound continued to slide on Wednesday after a day of heavy selling on Tuesday, as traders remained concerned about what Johnson’s promise for a hard Brexit will mean for the country.

Estonian central bank chief Madis Müller said that the ECB should be more flexible regarding its inflation target

The British pound fell versus the U.S. Dollar and common currency Euro during early trade in Europe on Tuesday

The trading week that started with a higher pound and lower stock markets has made a sudden turnaround, with the pound falling on Tuesday and stock indexes surging on hopes for a new U.S.-China trade deal.

An end to Brexit uncertainty as a result of the majority win for the Conservative Party has helped to keep the Pound elevated against both the greenback and the Euro.