Market News

The Organisation for Economic Cooperation and Developed earlier warned investors that China’s economy was on the verge of further slowing.

The dollar remained at a 7-month high on Monday after Friday's non-farm payroll report showed the creation of 271,000 jobs in October, the largest gain since December 2014.

This week is certainly going to be quieter in terms of scheduled news, although the market may continue to move quite strongly. Get the economic and political calendar for the popular currencies for the week of November 9, 2015 here.

Global markets have been responding noticeably to the Fed's statement yesterday hinting towards a December interest rate hike if market conditions continue heading in the same direction.

Asian stocks rallied early Wednesday, following a bullish lead from Wall Street and firmer crude oil prices. This was the fifth straight day of gains for energy and tech stocks.

The Reserve Bank of Australia, the central bank of the country, decided to leave the official cash rate on hold at a low of 2 per cent, pointing to an improvement in the economy over the last few months as the reason for postponing the increase at this time.

President Recep Tayyip Erdogan’s surprise win Monday sent Turkish markets rallying as investors welcomed the victory in hopes of renewed political stability in the country.

Disappointment amid the unexpected dismal PMI reports from China pushed the US Dollar lower and propped up the safe haven Japanese Yen.

The pace of China’s manufacturing sector slowed in October and Asian stocks reacted to the news by moving in and out of the red throughout the trading day.

It is going to be a crucial week for 3 currencies: the USD, the GBP and the AUD. All have Central Banks making their monthly reports and decisions. Get the economic calendar for the week of November 2, 2015 here.

Friday’s economic releases may throw a wrench in the Fed’s hawkish rate hike prediction issued after its last policy meeting Wednesday.

The Bank of Japan held off on expanding stimulus on Wednesday, even as slumping exports and falling oil prices threaten a hoped for steady growth.

Earlier, the US Dollar had remained close to a 2½ month peak versus the common currency Euro as FX traders reconsider the likelihood of a 2015 rate hike from the Fed.

The Fed seems back on track again for an interest rate hike in December. At its policy meeting Wednesday, the central bank gave clear indication that the possibility of a rate hike by the end of 2015 is a strong one.

The global oil glut continues to plague oil prices, bringing them down to multi-week lows in a third straight session on Tuesday.