Market News

The British House of Commons will be voting again about a no deal Brexit after they rejected the agreement that the premier Theresa May and the European Union reached.

Gold prices were trading near two-week peaks on Wednesday after the British Parliament voted to reject Prime Minister Theresa May’s Brexit proposal.

The US Dollar and Japanese Yen both fell during Tuesday trading on news of a Brexit negotiation breakthrough which led to FX traders ditching the “safe haven” currencies in favor of higher risk assets.

Jean-Claude Juncker, the European Commission president, said on Monday that the last "legally binding" changes made to the Brexit deal is sealed and won't reopen the terms of the exit, giving this the last chance the British will have to leave the European Union in an orderly fashion.

A decision by the European Commission to agree to changes in the Brexit deal have pushed Asian shares higher.

The Pound Sterling moved lower on a media report which said that Theresa May may change tomorrow's critical Parliamentary Brexit vote.

This week is likely to see an active market, with crucial U.S. and British economic data releases due as well as central bank input from the Bank of Japan. The British Parliament will be voting on the Brexit deal.

Chinese February trade data released on Friday showed worse than expected results, sending Chinese markets plummeting and keeping pressure on global markets that had already been receding for most of this trading week.

Global stock indexes were facing their worst run of 2019 on Thursday as traders waited to hear from the European Central Bank about its plans to once again send cheap loans through the region.

The United States trade deficit reached its highest since 2008 and has increased 12.4 percent since last year.

Oil prices were modestly higher on Thursday thanks to continued supply cuts by OPEC and ongoing sanctions against Venezuela and Iran by the United States.

The Australian Dollar struck a 2-month trough against its US counterpart during London trade on Wednesday as indications of a slowdown in the Australian economy are supporting analysts' expectations that the Reserve Bank of Australia will likely lower interest rates.

The European Union may not be far from a recession if the main threats that it's facing, like a no-deal Brexit or the trade tensions with the United States, become a reality, said the European Commissioner for Budget and Human Resources Günther Oettinger.

Gold prices traded firmly above five-week lows on Wednesday as traders sought the safe-haven commodity as the global stock rally of recent sessions lost steam.

Traders are still trying to push the Pound Sterling higher against the US Dollar as the sentiment shifts to favorable as regards the Brexit negotiations.