Market News

Both the Reserve Bank of Australia and the Bank of Japan announced on Tuesday decisions to keep interest rates unchanged.

The US Dollar bounced back after Friday’s slide in the wake of the controversial FBI report which painted Democratic presidential nominee Hillary Clinton in a bad light.

Hillary Clinton’s near 8-point lead over Donald Trump has been all but eviscerated as FBI Director James Comey announced that the agency is once again reviewing emails sent on Clinton’s private server when she served as secretary of state.

There will be a much heavier news schedule this week compared to last week, with major input due from at least four major central banks. Get the weekly economic calendar for the week of October 31, 2016 here.

The US Dollar moved toward a 3-month peak versus the Japanese Yen as expectations grow that the Federal Reserve Bank will now certainly raise rates before the year’s end.

The dollar edged slightly lower during Thursday’s Asian session, falling 0.1 percent against the yen to 104.41, after Wednesday posted another down day for U.S. stock markets.

The Pound Sterling recovered against the US Dollar earlier today as investors’ expectations of a Bank of England rate cut fade.

Disappointing earnings on Wall Street yesterday brought the major stock markets broadly lower, with U.S. stocks ending between 0.3 and 0.5 percent lower on Tuesday.

The US Dollar remains near recent multi-month highs on growing expectations that the Federal Reserve Bank will, indeed, increase interest rates in December.

The Governor of the Bank of Canada, Stephen Poloz, caused a minor market stir yesterday when his remarks at a testimony before the Canadian House of Common’s Standing Committee were misinterpreted, at least per the Bank.

The Pound Sterling edged higher against the US Dollar as risk sentiment improved across the globe, however analysts point out that any gains are likely limited as investors consider the likely impact of the Brexit.

There will be a significantly lighter news schedule this week compared to last week, with no real input due from any major central banks. Get the weekly economic calendar for the week of October 24, 2016 here.

In Asian trade, the US Dollar remained broadly higher and is poised to record another gain for the week.

As markets anxiously await the decision from the European Union regarding its Quantitative Easing program, the common currency came under heavy pressure and was trading close to a 3-month trough versus the US dollar.

The Mexican peso, the unofficial measure of U.S. election outcome expectations, has continued strengthening in the wake of Wednesday night’s U.S. presidential debate.