Posted by editor on March 29, 2017

The dollar pulled away from 4-1/2-month lows against a currency basket on Wednesday after solid data backed expectations for more U.S. interest rate hikes this year, while sterling was knocked by Britain triggering its exit from the European Union.

The dollar index, which tracks the greenback against six major rival currencies, rose to 99.911 (DXY), up 0.2 percent. It managed to crawl off a low of 98.858 hit earlier this week, its weakest level since Nov. 11, in the wake of U.S. President Donald Trump's failed healthcare reform bill.

Posted by editor on March 28, 2017

The dollar steadied on Tuesday after its worst week since U.S. President Donald Trump’s election in November, promises of more rises in Federal Reserve interest rates this year helping it recover from multi-month lows in still shaky global markets.

A dip in iron ore prices as European markets began trading helped weaken higher-risk currencies including the Australian and Canadian dollars.

Posted by editor on March 27, 2017

Oil fell further towards $50 a barrel on Monday, pressured by uncertainty over whether an OPEC-led production cut will be extended beyond June in an effort to counter a glut of crude.

A committee of ministers from OPEC and outside producers agreed on Sunday to look at prolonging the deal, stopping short of an earlier draft statement that said the committee recommended keeping the measure in place.

International benchmark Brent crude was down 19 cents at $50.61 by 0857 GMT, after falling as low as $50.26. U.S. crude was down 31 cents at $47.66.

Posted by editor on March 23, 2017

The Trump Trade could start looking more like a Trump Tantrum if the new U.S. administration's healthcare bill stalls in Congress, prompting worries on Wall Street about tax cuts and other measures aimed at promoting economic growth.

Investors are dialing back hopes that U.S. President Donald Trump will swiftly enact his agenda, with a Thursday vote on a healthcare bill a litmus test which could give stock investors another reason to sell.

Posted by editor on March 22, 2017

Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output.

Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.79 per barrel at 0451 GMT, down 17 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 18 cents, or 0.4 percent, at $48.08 a barrel.

"Crude oil prices fell as concerns over rising U.S. inventories resurfaced," ANZ bank said on Wednesday.

Posted by editor on March 21, 2017

The Canadian dollar was little changed against its U.S. counterpart in risk-off trade on Monday in the wake of the G20 meeting at the weekend which renewed concerns over the U.S. administration’s protectionist stance on trade.

USD/CAD was at 1.3353 by 09.31 ET, almost unchanged for the day.

The greenback remained on the defensive after G20 financial leaders dropped a pledge to keep global trade free and open from a policy statement at the weekend, following opposition from the increasingly protectionist Trump administration.

Posted by editor on March 17, 2017

 Asian stocks advanced on Friday and looked set for their best week since July, while the dollar extended a slide that began after the Federal Reserve indicated it was unlikely to speed up monetary tightening.
Financial spreadbetters predicted a muted start to European stocks after Thursday's strong gains, with Britain's FTSE and Germany's DAX expected to open 0.1 percent lower and France's CAC 40 seen starting the day flat.

Posted by editor on March 16, 2017

The euro stood tall on Thursday after Dutch election exit polls pointed to a comfortable win by the prime minister over his far-right rival, while the dollar wallowed at a one-month low after the Federal Reserve sounded less hawkish than anticipated on future rate rises.
The euro climbed to a five-week high of $1.0746 on Thursday, after surging 1.2 percent overnight.

Posted by editor on March 15, 2017

Saudi Arabia hailed a "historical turning point" in U.S.-Saudi relations after a meeting between U.S. President Donald Trump and Deputy Crown Prince Mohammed bin Salman highlighted the two leaders' shared view that Iran posed a regional security threat.

The meeting on Tuesday appeared to signal a meeting of the minds on many issues between Trump and Prince Mohammed, in a marked difference from Riyadh's often fraught relationship with the Obama administration, especially in the wake of the 2015 Iran nuclear deal.

Posted by editor on March 14, 2017

Here are the top five things you need to know in financial markets on Tuesday, March 14:
1. Dollar firms as Fed kicks off 2-day policy meeting
The Federal Reserve kicks off its two-day policy meeting on Tuesday, at which it is widely expected to raise the fed funds target range by a quarter point to a range between 0.75%-1%.
The U.S. central bank will also release its latest forecasts for economic growth and interest rates, known as the "dot-plot".

Pages

Subscribe to Important News