Market News

Oil prices struggled for a second consecutive day after Russian officials announced that they may increase production in an effort to compete for more market share.

The British Pound edged higher during London trade on Monday even as the parties continue to discuss the Brexit arrangements for the newly extended departure date.

According to two anonymous sources, the United States is reducing its demands that China curb its industrial subsidies as its policymakers attempt to come to a suitable trade deal with China.

The Japanese yen continued to struggle on Monday as a solid start to the U.S. earnings season sent traders away from the safe-haven currency into the arms of riskier assets.

The latest inflation data out of the US briefly helped to send the greenback higher against the safe haven Japanese Yen, but otherwise failed to provide a sustainable lift.

Though there may have been some relief that the Brexit has been postponed until October 31st, it wasn't apparent among FX traders who allowed the Pound Sterling to stall in Thursday trade.

The Organization for Economic Co-operation and Development recently presented a report during a UN meeting where they claim that the size of the middle class is declining in the most economically developed countries while the richest and powerful are enjoying improving earnings, boosting social and economic inequality.

European Union leaders have agreed to extend the deadline for the UK’s Brexit until October 31, 2019, with a checkup of progress due in June.

The Pound Sterling inched higher against the US Dollar but remains within a tight trading band as FX traders get ready for the next set of uncertainties revolving around the Brexit.

The International Monetary Fund announced on Tuesday that it expects the global economy to grow at a rate of 3.3 percent, lower than the 3.5 percent originally predicted.

The Pound Sterling surged briefly during Tuesday trade in London but gave back most of its gains when it was learned that the news which had prompted the rally was disavowed by the German government.

The dollar started the week trading lower even though the non-farm payroll report released on Friday was construed as mostly positive, showing the creation of 196,000 jobs in March and beating expectations.

Brent crude futures hit $71.34 per barrel on Tuesday, their highest level since November 2018, before retreating slightly on concerns that the global economic slowdown would reduce demand and tighten the commodity market.

U.S. President Donald Trump nominated Herman Cain and Stephen Moore for the Federal Reserve Governing Board, a contentious move amid escalating tension between him and the central bank leadership, as Trump continues to ask for easy monetary policy while the Fed is opting for tightening the monetary policy.

The Pound Sterling was trading above the $1.30 level within narrow ranges as Brexit talks continue among the key players.