Market News

The Pound Sterling earlier hit a 4-day trough against the US Dollar after the unexpected release of inflation data which failed to meet analysts’ expectations.

Oil prices were broadly higher on Wednesday, supported by a decrease in U.S. inventories and continued concerns about geopolitical tensions which could interrupt supply.

Perhaps the largest feather in U.S. President Donald Trump’s “hat” is the tax reform bill that was passed late in 2017.

Earlier during Tuesday trade in London, the Pound Sterling had hit a 22-month high.

Stock markets edged higher on Tuesday as the dollar remained stable as earnings season began in earnest and mixed data out of China brought tempered optimism.

The Pound Sterling edged higher against the US Dollar with FX traders focused on the latest data which could help raise expectations of another imminent rate hike from the Bank of England.

Asian markets were trading mixed to start the week as traders eyed U.S. earnings season which is set to begin in earnest this week.

This week will see a somewhat lighter news agenda than last week, with central bank input expected from Canada and Australia.

The US Dollar saw broad gains after an improvement in risk appetite helped to bolster equities and push yields on US treasury instruments significantly higher.

The US Dollar Index was higher at 89.751 .DXY, but still remains close to a 2-week trough as investors’ cautious nature prevails.

On Wednesday, U.S. President Donald Trump warned Russia to prepare for missile strikes against its ally Syria, and oil traders took note.

On Wednesday, U.S. President Donald Trump criticized Russia for supporting Syrian President Bashar al-Assad after a suspected poison gas attack in Syria that killed dozens of people and injured hundreds.

The Pound Sterling is now higher after an initial kneejerk reaction to the latest economic data which left some FX investors wondering about the Bank of England’s own reaction to the information.

Asian markets traded mixed in early trade on Wednesday as traders sought to understand what would happen next in the trade war that is threatening to erupt between the United States and China.

The Pound Sterling earlier struck a 2-week peak against the US Dollar after one key policymaker commented on the importance of a rate increase from the Bank of England.