Market News

Randal Quarles is set to be nominated as the Federal Reserve’s top banking regulator, the White house announced on Monday.

The dollar steadied notably during early Asian trading on Monday after positive jobs data released on Friday supported continued policy tightening by the Federal Reserve including another interest rate hike later in the year.

There are a few very high-impact news items scheduled this week, primarily affecting the Canadian Dollar, as well as the U.S. Dollar which is the most important currency in the Forex market.

The US Dollar remained on a steady course in Asian trading and is poised to record gains for the week.

U.S. crude prices plummeted over 4 percent on Wednesday afternoon, breaking an eight-day uptick, the longest oil rally in five years.

The safe haven Japanese Yen fell versus the US Dollar, but the greenback failed to make any headway against the common currency Euro as FX traders await minutes from the Federal Reserve Bank.

Brent crude traded near the critical $50 resistance level on Wednesday morning on signs that the United States may finally be reducing its crude oil production.

Global markets seemed to be celebrating with America as markets rallied going into the country’s Independence Day celebrations on Tuesday.

After news that the greenback suffered its worst quarterly performance in more than seven years, the US Dollar managed to recover lost ground.

Despite the July 4th Independence Day holiday that will keep U.S. trading subdued this week, traders are actively eyeing the U.S. oil inventories with the hope that signs of reduced supply will finally buoy prices.

There are some very high-impact news items scheduled this week, primarily affecting the U.S. Dollar which is the most important currency in the Forex market.

The Canadian Dollar touched a 5-month peak versus the US Dollar yesterday, in part due to a rise in oil prices, but also because of higher domestic yields.

The Pound Sterling edged higher against the US Dollar, trading at a 5-week peak above $1.30, as investors take comfort in the hawkish outlook of several of the Bank of England’s voting members.

It feels like the end of a 10-year long financial era of easy money is upon us, as another central bank yesterday seemed to indicate tighter monetary policy going forward.

The common currency Euro struck a 7-month peak versus the Pound Sterling after the President of the European Central Bank suggested that the Quantitative Easing program would be reduced.