|Day's range||6,012.90 - 6,048.60|
|52-week range||5,582.70 - 6,150.00|
The Dollar continues to struggle through the holiday season, with volumes on the lighter side and sentiment still relatively subdued towards a possible Dollar rebound in the New Year.
It’s another day where the U.S Dollar is in focus, with economic data and Capitol Hill key drivers through the U.S session later today, while stats are on the lighter side through the European session this morning.
The House will be voting for a 2nd time on the tax reform bill later today, following a procedural error on Monday, which has left the markets in limbo, with BoE Governor Carney scheduled to speak on what’s a relatively quiet day on the data front.
U.S. markets closed in the red ahead of Asia's Friday trading day as investors turned their attention to uncertainty around tax reform.
Asian markets closed mostly higher on Wednesday after a missile launched by North Korea landed in the Sea of Japan earlier in the day.
North Korea tested another intercontinental ballistic missile in the early hours of the day that tested risk appetite through the Asian session this morning. Rallies in the U.S markets largely offset demand for the safe havens, as the Dollar managed to stand its ground relatively well considering the usual declines over North Korean actions. In spite of the latest attempts by the North Koreans to ruffle Trump’s feathers, the Asian markets were mixed at the time of writing.
The negative sentiment towards Chinese stocks also weighed on the Hang Seng, which was down 0.61% at the time of writing, with oil stocks also joining the heavy losers on the day, as crude oil retreats ahead of Thursday’s OPEC meeting. Thrown into the mix will be the BoE’s release of the bank stress test results, with Carney discussing the results and presenting recommendations following the release.
Earlier in the Day: Another quiet day on the stats through the Asian session this morning, with key data limited to New Zealand’s 3rd quarter retail sales figures and they weren’t great. Retail sales increased by just 0.2% in the quarter, falling short of a forecasted 0.4% increase, following the 2nd quarter’s 2% rise. Despite … Continue reading The EUR and the Pound in Focus as the U.S takes a Break
Earlier in the Day: Stats were on the lighter side through the Asian session today, with the Kiwi Dollar under the spotlight. New Zealand’s October Business PMI eased slightly, with producer input prices rising at a slower pace in the 3rd quarter. While the numbers were on the softer side, the Kiwi Dollar was saved … Continue reading Russia Election Probe Slams the Dollar
Most Asian markets closed higher on Friday as the euro extended losses following Thursday news from the European Central Bank.
On Friday, 29 September, the GBP got a much-anticipated boost: Brexit negotiations are finally making headway in their fourth round of talks. Brexit secretary, David Davis and his European counterpart, Michel Barnier indicated that Prime Minister Theresa May hit a chord in her recent Florence speech. During the third round of Brexit negotiations, currency traders … Continue reading Worlds Apart: The GBP and the CNY