Market News

The Euro struggled to maintain momentum following unexpectedly poor data from Germany which showed that while IFO business sentiment improved somewhat in September’s reading it was not to the extent that as poll of economists had expected.

The Euro gave back modest gains following comments made by Mario Draghi, head of the European Central Bank who said that he and the ECB were prepared to do whatever was necessary in order to hold market rates at bay and avoid further damage to the fragile Eurozone economies, including additional liquidity injections.

Asian markets crept higher on Monday with a regional benchmark index trading near a four-month high after a closely-watched measure of Chinese manufacturing hit its highest in six months and showed a promising pick up in export orders, another sign of stabilization in the world's second biggest economy.

The Federal Reserve Bank’s surprise having worn off to some extent means that the U.S. Dollar Index was able to start to recover from the 7-month trough that it hit in the wake of the Fed’s newsflash.

On Wednesday, the U.S. Federal Reserve surprised markets when they announced that they had no intention of curtailing the existing quantitative easing program as the U.S. economy had not sufficiently recovered enough to satisfy the members of the FOMC.

Investors’ expectations are high and great that the U.S. Federal Reserve will later today announce a modest reduction to their quantitative easing program and as a result the U.S. Dollar Index once again remained within striking distance of the recently struck 4-week low.

The U.S. Dollar remained close to Tuesday’s 4-week trough now that expectations that the Fed would tighten monetary policy at a faster click have been dashed with the withdrawal from contention of Lawrence Summers.

The U.S. Dollar Index slipped to a 4-week trough during the Monday trading session in Asia on speculation that the current ultra loose monetary policy of the U.S. Federal Reserve Bank is likely to endure given that the new front runner to replace Ben Bernanke is the dovish Janet Yellen.

The U.S. Dollar edged higher during the Friday trading session in Asia but is still poised to post a weekly loss on rising doubts of any significant scaling back of the Federal Reserve’s stimulus program.

The U.S. Dollar Index held close to a 2-week trough during the Asian trading session with recent gains being chipped away on growing speculation that the Federal Reserve Bank won’t make any significant changes to its quantitative easing policy.

In the biggest shake-up of the Dow Jones industrial average in nearly a decade, Goldman Sachs, Visa and Nike will be joining the prestigious 30-stock index.

The safe haven Japanese Yen touched a 7-week trough versus the U.S. Dollar and held close to multi-year lows versus both the Pound Sterling and the Euro following news that the United States is no longer considering military action in Syria.

Australian business confidence surged in August as firms hoped a Federal election would put an end to political uncertainty, though Tuesday's survey showed actual conditions were weak with a worrying downturn in employment.

China's annual consumer inflation rate rose 2.6 percent in August, official data showed on Monday, in line with market expectations and with little change from the previous month's 2.7 percent rise.

Last week, the U.S economy issued the “U.S Energy Information Agency Report” for the oil stocks, which showed a deficit in the stock by around 1.8 million barrel