Market News

The U.S. Dollar rose across the board yesterday as better than expected CB Consumer Confidence numbers boosted an already strong greenback.

The Pound Sterling edged lower against the US Dollar as it appears the monetary policies for the UK and the US central banks clearly are on diverging paths.

European stocks saw an unexciting start to Tuesday’s trading day as the pan-European STOXX 600 index opened 0.17 percent higher.

In the wake of last week’s comments from the head of the US Federal Reserve Bank while at the Jackson Holy symposium, the US Dollar was broadly higher on a brighter outlook for the US economy and a subsequent interest rate hike.

At the U.S. Federal Reserve’s annual convention for global central bankers in Jackson Hole, Wyoming last week, Chair Janet Yellen took an optimistic stance about the U.S. economy – and traders took notice.

There will be a heavier news schedule this week compared to last week, dominated by the release of key U.S. Non-Farm Payrolls data on Friday, as well as some Australian and Chinese data due on Thursday.

Wall Street ended slightly lower Thursday as investors await a much-anticipated speech by Federal Reserve Chairwoman Janet Yellen on Friday that may offer clues to the central bank’s next rate move.

Though currently under some pressure, earlier today the Pound Sterling had been trading near to a 3-week peak versus the US Dollar.

Asian stocks were mixed Thursday morning as traders pulled back, awaiting the next meeting of the FOMC and Fed Chair Janet Yellen’s decision on whether to set another rate hike in motion.

The trend of marginal moves while pushing record highs in US indices looks set to continue on Wednesday, with futures pointing to a marginally higher open on Wall Street.

The Pound Sterling edged higher versus both the US Dollar and the common currency Euro as investors speculate on the likelihood of an interest rate adjustment from the Bank of England.

The dollar moved up on Wednesday as markets looked towards the meeting of global central bankers in Wyoming and a speech by Fed Chair Janet Yellen on Friday for clues on whether the Federal Reserve is poised to hike interest rates again.

The US Dollar weakened broadly and slid below the 100 Yen level earlier as FX traders refocused on the upcoming events at Jackson Hole, the Federal Reserve Bank’s annual symposium.

Crude oil prices continued to fall in early Asian trade Tuesday, as optimism for a production freeze faded on reports that Iraq is preparing to ramp up exports and Nigeria could follow soon.

The Pound Sterling edged higher against the US Dollar, hitting a 5-week peak, after the latest economic data showed that the UK economy was holding its own after the June Brexit vote.