Market News

Oil gave up some of last week’s gains on Monday as traders began to analyze how increased production could impact the markets.

Over 59 million Turkish citizens are eligible to vote in today’s presidential and parliamentary elections in Turkey.

The Organization of the Petroleum Exporting Countries (OPEC) met this weekend in Vienna and agreed with Russia and other oil-producing countries to increase production starting in July.

This week will see relatively light news agenda compared to last week, with central bank input due from the Reserve Bank of New Zealand, plus major economic data releases primarily concerning the U.S. and Canadian Dollars and the British Pound.

The Pound continues to come under pressure ahead of today's meeting of policymakers at the Bank of England.

Oil prices dipped down on Thursday morning in advance of an OPEC meeting in Vienna on Friday which will determine the fate of the production cuts that have been guiding prices for the past 18 months

The Pound Sterling hit a new 7-month trough versus the US Dollar on worries that the most recent developments in the Brexit negotiations will not pass through the UK Parliament.

Asian markets staged a comeback on Wednesday after struggling for the past few days. As of 1:06 p.m. HK/SIN, Hong Kong’s Hang Seng Index was up 0.41 percent, while Japan’s Nikkei 225 enjoyed a 0.54 percent gain.

The US Dollar slid versus the safe haven currencies during trade on Tuesday after the threat of more Chinese tariffs heightened concerns of an escalating trade war that could negatively impact global growth.

Last week U.S. President Donald Trump committed to imposing fresh tariffs on $50 billion of Chinese goods.

Ahead of the Bank of England's next policy meeting which will begin on Wednesday and conclude on Thursday, FX traders appear wary of keeping the Pound Sterling propped up.

Washington’s announcement on Friday to implement tariffs on $50 billion of Chinese goods has continued to pressure markets and worry investors.

This week will see a lighter news agenda than last week, with central bank input due from the Bank of England, The Swiss National Bank, and the Reserve Bank of Australia, plus major economic data releases primarily concerning the Canadian and New Zealand Dollars.

The Euro is poised to record its worst weekly decline in 19 months after the European Central Bank's latest statement.

The Pound Sterling climbed to a 50day peak during London trading today after an unexpectedly upbeat retail sales figure was released.