Market News

Later today the Federal Reserve will announce whether it will raise interest rates for the fourth time this year, and both traders and world leaders are anxiously awaiting the announcement.

The Pound Sterling continues to move off of the recently struck 20-month trough after it was confirmed that the Prime Minister will ask for the British Parliament to approve her latest Brexit proposal next month.

Asian markets were broadly lower on Tuesday after a tumultuous day on Wall Street on Monday which sent the S&P 500 to fresh 2018 lows.

Though higher now, the Pound Sterling remains within striking distance of a 20-month trough, despite calls for another Brexit referendum by some politicians.

The US Dollar remained close to a 19-month peak during Asian trade on Monday, largely as safe haven assets were driven higher in the wake of growing concerns over a worldwide economic slowdown.

During the Friday trading session in Asia, the US Dollar moved higher against major peers as market focus shifts to next week's expected Fed rate hike.

The Pound Sterling edged higher during Thursday trade in London after the Prime Minister managed to eke out a win after the Parliamentary no-confidence vote on Wednesday.

Asian markets headed higher on Thursday after signs that the trade war between the United States and China may be easing slightly.

The Pound Sterling recovered from the overnight 20-month trough despite continued threats to the Prime Minister's position by members within her own party.

Oil prices soared on Wednesday, with traders remaining optimistic about OPEC’s production cuts which were confirmed last weekend.

While news of the chaos in the British economy relative to the uncertainty of the Brexit have taken over the headlines, the Pound's impact on other currencies, as a result, cannot be understated.

Plagued by concerns about the upcoming Brexit, the British pound has sunk to levels not hit since April 2017.

The Pound Sterling continues to slide and moved close to a 3-month trough versus the common currency Euro as FX traders await the Brexit vote in the British Parliament.

A meeting between OPEC members and their oil-producing allies on Friday resulted in an agreement to cut oil supply by 1.2 million barrels per day starting in January.

This week is likely to see some a greater amount of activity compared to last week, with central bank input due for the Euro and the Swiss Fran, plus very important U.S. and British economic and political data.