Market News

This week will see a very heavy news agenda, with the key Central Bank input coming from the U.S.A. and Japan and the U.K.

The Saudi Arabian oil industry was in the spotlight on Thursday for more than its hard line on production cuts, as the country’s Crown Prince Mohammad bin Salman told Reuters that the country’s national oil giant is on target for an initial public offering sometime next year.

The euro firmed against the dollar on Thursday as traders await the European Central Bank’s plans for curbing its bond-buying program which is expected to be released later on Thursday.

The Australian Dollar tumbled about 0.8% versus the US Dollar after Aussie inflation data disappointed market players.

Japan’s Nikkei 225 stock index was up 0.08 percent at 1:06 p.m. HK/SIN, heading towards the 17th consecutive day of gains, an unprecedented winning streak for the index that set the index at a 21-year high.

The New Zealand Dollar, familiarly known as the Kiwi, was the G10 currency market’s biggest mover today and struck a fresh 5-month trough against the US Dollar.

Oil prices were higher on Tuesday, bolstered by a drop in exports from Iraq, OPEC’s second-biggest producer, and an anticipated decline in U.S. commercial oil stocks.

The Pound Sterling fell versus the US Dollar during Monday trade in London as concerns over a division within the Conservative Party grows.

Japanese Prime Minister Shinzo Abe secured a two-thirds ‘super majority’ on Sunday, claiming 312 out of 465 possible seats.

This week will see a somewhat heavier news agenda than last week, with the key economic data input coming from the U.S.A., Europe, and Canada. There is Central Bank input due from the European Central Bank and the Bank of Canada only.

Among Asian currencies, the New Zealand Dollar, commonly called the Kiwi Dollar, was among the biggest movers today.

The Euro hit a 3-day peak today as investors eye next week’s policy meeting of the European Central Bank.

The U.S. dollar hit a two-week peak against the yen on Thursday morning after a rise in U.S. bond yields on Wednesday.

The Pound Sterling initially ticked higher but soon after fell to a 6-day trough after the latest economic data on the UK economy showed wage growth still slow and lagging UK inflation.

Oil prices were higher on Wednesday morning, powered by a decline in I.S. crude inventories and continued worries about political tensions in Iraq and Iran.