Market News

This week is likely to see either a little less or a similar level of market activity to last week, with central bank input due concerning the Australian and New Zealand Dollars.

The safe haven Japanese Yen was broadly higher after the latest rhetoric from the US President.

The Pound Sterling lost its positive momentum and fell to a 20 year trough against the US Dollar on growing fears that the UK will withdraw from the EU without an agreement.

According to a recently released survey by IHS, the Eurozone manufacturing activity fell in July, reaching its fastest step since the end of 2012, reinforcing fears about the bloc's economic outlook.

The U.S. dollar hit a two-year high after Federal Reserve Chairman Jerome Powell announced a quarter-point interest rate cut, bringing the benchmark lending rate to between 2 and 2.25 percent as expected.

After four consecutive days of heavy losses, the Pound finally seems to have steadied against its US rival, the greenback.

The trade talks between the United States representatives and their Chinese counterparts finished, without signaling any significative progress.

Asian benchmarks were broadly lower on Wednesday morning, pressured by concerns about a hard Brexit and concerns that the trade war between the United States and China will lag on for the foreseeable future.

The latest data from the European Union reinforces the outlook provided by the head of the European central bank last week.

Japan's Central Bank decided to keep its cash rates at the same level, implying that they would employ stimulus measures “without hesitation” if the global economic slowdown affects the Japanese economy.

New UK Prime Minister Boris Johnson has his work cut out for him – in addition to working on getting the UK out of the European Union, he also has to worry about the continually falling pound

An ultimatum issued by Jean-Claude Juncker, the head of the European Commission, to the UK Prime Minister, essentially stating that the latest Brexit proposal was the only Brexit proposal Boris Johnson would get, sent Sterling markedly lower against the greenback.

Chinese representatives are expected to meet this week with their American counterparts in Shangai, despite many considerations that no significant deal is going to be reached.

Data out of the United States on Friday showed that the country’s gross domestic product (GDP) expanded by 2.5 percent in 2018, not at a rate above 3 percent as President Trump originally claimed.

The continuation of the world trade war, led by the United States of America and China, the world’s two strongest economies, and as expected from the International Banks and Financial institutions, led to slowing of global economic growth.