Market News

The Australian and Canadian dollars reached unexpected highs early on Tuesday following a rally in commodity prices.

As FX investors await the latest policy announcement from the European Central Bank, expectations continue to grow.

Oil prices rose above $36 a barrel overnight as the number of active drilling rigs in the U.S. dropped to its lowest level in six years.

The coming week ahead is likely to produce a similar level of market interest to last week. Get the economic and political calendar for the popular currencies for the week of March 7, 2016 here.

Last week’s U.S. payroll data sent spot gold prices bouncing up and down Friday, ending the day flat at $1,258.71 down 0.02 percent.

The U.S. unemployment report is due out this morning and the figures look promising as far as inflation is concerned.

The Aussie Dollar earlier hit a 2-month peak as risk appetite continued to be strong in the FX markets.

Asian shares were up again for a third straight session of gains on Thursday as positive data on U.S. jobs and a rally in a range of commodities whetted risk appetites globally.

While the US Dollar may have struck a 1-month high, it was the Aussie Dollar that was the session’s big winner, gaining nearly 1% on the latest Australian data.

Positive U.S. manufacturing data and a jump in oil prices on Tuesday pushed a leading gauge of global stocks to its highest in nearly two months.

The Japanese Yen retreated from a 3-year peak versus the common currency Euro as sentiment improved following the broad stabilization of the world’s equity markets.

Today will be a busy day for economic news, including the monthly update on Germany’s unemployment rate, new jobless numbers for the Eurozone and the first look at the U.S. ISM Manufacturing Index for February.

The common currency Euro came under renewed pressure following the earlier release of preliminary inflation data for the Eurozone.

The yen rebounded sharply against the dollar on upbeat U.S. data Monday.

The coming week ahead is likely to be busier, with Non-Farm Payrolls data due for the USD and monthly central bank input coming for the AUD, as well as a lot of key economic data regarding several major global economies. Get the economic and political calendar for the popular currencies for the week of February 29, 2016 here.