Market News

The latest economic data out of the United Kingdom was disappointing in general, and resulted in the Pound sliding to a fresh 10-month trough versus the US Dollar.

Oil prices fell further on Wednesday after a surprising report that showed U.S. crude inventories rose last week, despite analyst expectations for a significant decline in stockpiles.

The growing divide within the UK Prime Minister's own party became apparent after a Parliamentary vote yesterday did little to advance Theresa May's Brexit-related agenda.

Asian stocks opened mixed on Tuesday, pressured by oil prices that plummeted on Monday.

The Pound was higher versus both the US Dollar and the common currency Euro although FX traders appear caution and intent on focusing on the looming Parliamentary debate.

Early in the Asian trading session on Monday the U.S. dollar was trading near a six-month high of 112.79 hit on Friday as traders waited for news that is expected to be released later in the week.

This week will see a slightly heavier news agenda compared to last week, with central bank input due only from the Reserve Bank of Australia, plus testimony from the U.S. Federal Reserve and the Bank of England.

The US Dollar remained close to the recently struck 10-day high, which had been pushed there on expectations that the latest US inflation data would have shown an increase.

The Pound edged higher during Thursday trading as FX investors are pinning their collective hopes on the release of a “white paper” that perhaps could jump start trade negotiations between the British government and the EU leadership.

The U.S. dollar rose against the yen on Thursday, holding near six-month highs after fresh economic data reconfirmed expectations for two more interest rate hikes before the end of the year.

Cautious investors kept the Pound Sterling under pressure ahead of a speech from Mark Carney, the head of the Bank of England.

On Tuesday U.S. President Trump announced that he was going to start the process of implementing tariffs on another $200 billion of Chinese goods, and China responded quickly and harshly.

Asian markets opened lower on Wednesday after reports out of Washington confirmed that the United States would impose tariffs on another $200 billion of Chinese imports.

The US Dollar came back into favor with FX traders on renewed interest in higher risk currencies.

There are a lot of unknowns in the United Kingdom these days, but two things are certain: David Davis and Boris Johnson, two key players from Prime Minister Theresa May’s government, have opted out