Market News

Asian shares snapped their losing streak on Monday, despite weak data out of China which showed economic growth that was below forecast in multiple sectors.

This week will have a heavier news agenda than last week. The agenda will be dominated by only a few items of high-impact U.S. data centered on the mid-point of this week.

The US Dollar Index was higher after FX traders consolidated their positions with currencies that are low yielding, albeit safe havens, like the Japanese Yen and Swiss Franc.

The Swiss Franc is currently lower against the US Dollar but managed to hold onto the majority of gains made yesterday in the aftermath of elevated political tension between North Korea and the United States.

Though higher, the Pound Sterling still remains not far from a 2½-week trough versus the US Dollar, with the slide a factor of last week’s Bank of England vote to maintain interest rates at the current low level.

The Japanese Yen saw broad gains in the wake of the rhetoric bandied about by the leaders of the US and North Korea.

The outlook for the UK’s economy has soured for investors and, as a result, the Pound Sterling has been under some pressure and recently recorded the largest 4-day fall in nearly two months versus the US Dollar.

The US Dollar Index is struggling in Asian trade as investors ponder the outcome of looming inflation reports.

The British Pound is regaining previous losses against the US Dollar and rebounding off the recently struck 11-day trough.

The US Dollar edged higher against the Japanese Yen in early Asian trading after Friday’s unexpectedly upbeat labor report.

This week will have a much lighter news agenda than last week. The agenda will be dominated by only a few items of high-impact U.S. data towards the end of the week, as well as the monthly reporting from the Reserve Bank of New Zealand. Therefore, volatility this week should be considerably lower than it was last week.

The US Dollar is struggling to gain traction as investors wait for today’s release of the all-important Non-Farms Payroll report.

The US Dollar continues to be under some pressure and remained just above a 2½ year trough versus the common currency Euro as investors prepare themselves for Friday’s release of US private sector jobs data.

Asian stocks were off to a rough start on Thursday after the Dow closed above 22,000 and the dollar hit 15-month lows against the euro overnight.

The Pound Sterling remains close to a 11-month peak versus the US Dollar despite a disappointing reading from the PMI Construction survey.