Market News

The Pound Sterling hit a 2-week peak and continued to climb, largely thanks to a Euro rally but also by the US Dollar's recent weakness.

Asian markets hit a 2 ½ month high on Thursday, riding the global buying wave as traders acted based on solid fundamentals worldwide.

The Pound Sterling edged higher in London trade, buoyed by unexpectedly upbeat data earlier this week and an overall weaker US Dollar.

The euro continued its climb on Wednesday, supported by reports from Bloomberg on Tuesday that the European Central Bank could announce its plans to end quantitative easing.

The US Dollar had firmed during London trading but remains just off the 6-month peak struck last week as FX traders await news on the US economy which could prove steady growth through the second quarter.

U.S. trade negotiations with several of its key allies appear to have stalled, or possibly even eroded further, as Canada proposed tariffs on maple syrup, a move that could hurt syrup producers in Maine.

The Pound Sterling had already been poised for its 4th straight day of gains ahead of the PMI release, and the GBP/USD pair moved higher afterward on the upbeat report.

Strong employment data out of the U.S. on Friday increased investor confidence and sent Asian markets higher on Monday.

This week will see a lighter news agenda compared to last week, with central bank input due only from the Reserve Bank of Australia, plus a major Australian GDP data release.

By the end of the trading day, the Euro could record the first weekly gain in nearly seven weeks as concerns over a brewing political crisis in Italy seems finally to be fading.

The Euro continued its rally in London trading as discussions among political parties in Italy attempt to stave off the need for a snap election.

The trade war between the United States and China is reportedly heating up, despite announcements last week that a tentative solution has been found.

The Pound Sterling regained yesterday's losses against the US Dollar and recovered from the 6-month trough as the FX market stabilized in the wake of the Italian political drama.

Wall Street indexes saw their steepest one-day declines in a month on Tuesday as traders expressed concerns about Italy’s political turmoil by withdrawing from the market.

The Pound Sterling struck a 6-month trough versus the US Dollar during Tuesday trading in London and was steady against the common currency Euro.