Market News

Investors continue to remain wary of the Brexit negotiations and as a result have sold off the Pound Sterling once again.

Asian stocks were broadly lower on Thursday after the Dow Jones Industrial Average and the S&P 500 closed February lower, breaking their longest winning streaks since 1959.

The Pound Sterling once again is under pressure as FX traders await the official release of the first draft

The dollar was higher on Wednesday, following Federal Reserve Chair Jerome Powell’s hint

The Dow Jones Industrial Average sunk just over 299 points on Tuesday after Federal Reserve Chair Jerome Powell hinted that the Fed could raise interest rates more than three times in 2018.

The Pound Sterling moved higher against the US Dollar as investors sit on the sidelines ahead of testimony from Jerome Powell, the newly appointed chief of the US Federal Reserve Bank.

The International Energy Agency (IEA) predicted on Tuesday that the United States will surpass Russia as the world’s biggest oil producer by sometime next year, if not sooner.

The Pound Sterling was hi9gher after one deputy governor of the Bank of England reinforced the markets’ view that a rate increase would soon be forthcoming.

Saudi Arabian oil minister Khalid al-Falih announced on Saturday that it would continue to restrict exports in support of OPEC’s production cuts, sending oil prices higher despite production increases in the United States.

This week will see a somewhat heavier news agenda, with some major central bank input from the U.S. Federal Reserve and the European Central Bank, and a few economic data items of importance concerning primarily the U.S.A.

While the US Dollar earlier skidded during Asian trading on Friday, the Japanese Yen edged higher as investors moved into the safe haven currency.

Official data released on Thursday showed that the UK’s economy is further behind in the global recovery process than originally thought, posing a challenge to the country as it prepares to leave the European Union and to become more economically independent.

The Pound Sterling held close to a 1-week trough versus the US Dollar as FX traders await data that would support a Bank of England rate hike in May.

Increased optimism and continued growth of the United States’ economy lead the majority of Federal Reserve members to call for fresh interest rate hikes on Wednesday.

The Pound Sterling fell to a 1-week trough versus the US Dollar after the latest economic data surprised markets.