Market News

The Euro remained close to the $1.13 level during trade in London on Wednesday as FX traders wait to see how the European Commission responds to Italy's re-submission of its 2019 draft budget.

News that a Brexit deal, albeit still in draft form, was struck between the British government and the European Union was enough to provide a lift for the Pound Sterling.

A pause in the US Dollar's recent rally helped to push the Euro away from the recently struck 16-month trough.

The GBP/USD fell apart at the psychologically important level at 1.3000 again at the end of this week’s transactions and ahead of the release of a group of important UK economic data.

Until the Brexit is a “done deal in March 2019,” FX traders will have little choice but to ride a wave of uncertainty.

OPEC and its allies have expressed serious concerns about global oversupply, prompting Saudi Arabia to announce a supply cut next month.

This week is likely to see a little less activity compared to last week, with no real central bank input due for any major currencies.

The US Dollar earlier saw positive momentum against its rivals during Asian trade on Friday.

The US Dollar pulled away from Wednesday's 2 ½ week trough on the backs of a collective sigh of relief that the US midterms are finally over.

The United States assumed the position of the world’s top crude producer when its production hit 11.6 million barrels per day, which it did last week, according to a report released by the Energy Information Administration (EIA) yesterday.

The US Dollar was broadly lower after the US mid-term elections which suggested that FX players expect the Trump administration to face some strong headwinds

With the U.S. election results rolling in, analysts and traders have been quick to react, and to consider what will come next.

Despite earlier hopes that the UK government was on its way to securing an agreement to ensure a soft Brexit, the latest noise suggests that that may not be the case at all.

The midterm elections that are slated to be held in the United States today will have dramatic ramifications on the country’s politics, as well as on the global markets.

The Pound Sterling moved higher against the US Dollar after a report in the UK Sunday Times said that the British government was close to striking a Brexit deal