Market News

Positive U.S. manufacturing data and a jump in oil prices on Tuesday pushed a leading gauge of global stocks to its highest in nearly two months.

The Japanese Yen retreated from a 3-year peak versus the common currency Euro as sentiment improved following the broad stabilization of the world’s equity markets.

Today will be a busy day for economic news, including the monthly update on Germany’s unemployment rate, new jobless numbers for the Eurozone and the first look at the U.S. ISM Manufacturing Index for February.

The common currency Euro came under renewed pressure following the earlier release of preliminary inflation data for the Eurozone.

The yen rebounded sharply against the dollar on upbeat U.S. data Monday.

The coming week ahead is likely to be busier, with Non-Farm Payrolls data due for the USD and monthly central bank input coming for the AUD, as well as a lot of key economic data regarding several major global economies. Get the economic and political calendar for the popular currencies for the week of February 29, 2016 here.

The two-day G20 meeting ended Saturday night at a standstill.

Zhou Xiaochuan, governor of People’s Bank of China promised finance officials from the United States, Japan, Europe and other major economies that he would avoid weakening the yuan to boost sagging exports.

Ahead, FX traders are looking to two key speeches from members of the Federal Reserve Bank which might provide direction for US interest rates and thus the US Dollar in the coming months.

Asian markets were mixed Thursday as China’s stocks slumped by the most in a month and the Australian dollar fell on concerns that investment is weakening while oil resumed declines and gold advanced.

The Pound Sterling is coming under heavy sell pressure and earlier fell against the US Dollar to a level not seen in more than six years.

Crude oil inventories are scheduled to be announced this morning but oil prices slid again overnight, continuing their fall from the previous session after top exporter Saudi Arabia eliminated any hopes of cutting production.

For the third consecutive month, it was reported by the CESifo Group that Germany’s business morale took another hit.

Asian stocks tumbled overnight, putting a break on the previous global rally. The yen climbed, while the pound declined and crude slumped.

China will host the G20 summit for 2016 culminating with the G20 Leaders' Summit in the eastern city of Hangzhou on 4-5 September 2016.