Market News

The Pound Sterling is struggling to gain traction despite positive news that the British government will offer a new solution to the issue of the Irish border which is currently delaying Brexit negotiations.

Wall Street indexes closed lower on Tuesday, sparking a downturn in Asian markets that spread into Wednesday afternoon.

The common currency Euro had earlier struck a fresh 5-week peak versus the US Dollar as concerns that a global trade war had been brewing now seem to be receding.

Global stock markets were broadly higher in Asia after the Wall Street Journal reported that the United States and China were “quietly” negotiating a potential trade deal

The Pound Sterling edged higher versus the US Dollar on a swing in sentiment in favor of a May rate hike from the Bank of England.

Asian shares were broadly lower on Monday, succumbing to another day of selloffs as traders continued to worry about the possibility of a trade war between the United States and China.

This week will see a lighter news agenda, with no major central bank input expected at all. The schedule will probably be dominated by GDP data releases for the U.S.A. and Canada.

The Japanese Yen moved higher against the US Dollar after the US President stoked investors’ fears of a brewing trade war.

In its first policy meeting since the induction of new chief Jerome Powell, the U.S. Federal Reserve met analysts’ expectations on Wednesday by raising interest rates and predicting at least two more interest rate hikes before the end of the year.

The Pound Sterling edged higher against the US Dollar after the latest labor data out of the UK helped improve sentiment for Cable.

The Federal Reserve’s two-day policy meeting will end later today, and traders worldwide are eagerly awaiting the central bank’s announcement, which is expected to include an interest rate hike and hints towards future hikes.

The US Dollar moved higher and reversed some of Monday’s losses as FX traders await the outcome of the Federal Reserve policy meeting.

Oil prices extended their gains on Tuesday, boosted by continued tensions in Venezuela and renewed tensions between Iran and Saudi Arabia.

The US Dollar was higher against the Japanese Yen and the Australian Dollar during Monday trading in London.

Oil prices started the week lower during Monday’s Asian session as investors remained concerned that the increase in U.S. production would lead to a new supply glut.