Market News

Following reports that the South Korean Coinrail cryptocurrency exchange had been hacked over the weekend, bitcoin prices fell nearly 10 percent, and they continued their decline into Wednesday

The oil markets were conflicted with US crude oil firmer on doubts whether OPEC would increase supply at the next meeting.

Next week OPEC (the Organization of the Petroleum Exporting Countries) is scheduled to announce whether it will agree on an increase in crude output, a move that could open the world up to greater price hikes due to supply disruption.

The US Dollar gave back earlier gains after FX traders assessed the summit between the US and North Korea and determined that no concrete measures would be forthcoming.

The U.S. dollar hit a three-week high against the yen on Tuesday after U.S. President Donald Trump announced that he had forged a “good relationship” with Kim Jong Un, North Korea’s leader

The Pound Sterling was unable to maintain the momentum it held in the hours before the release of key economic data.

The Swiss franc fell against its primary trading partners on Monday after Swiss voters rejected a proposal to dramatically alter the country’s financial landscape by preventing commercial banks from electronically creating money during the lending process.

This week will see a much heavier news agenda than last week, with central bank input due from the U.S.A., the Eurozone, and Japan, plus major economic data releases

In early Asian trading, the US Dollar Index remained close to a 3-week trough after yields on US Treasury instruments fell sharply.

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.