Market News

Trump Slams “Wasteful” Bill Items; Market Volatility Drops; Dollar Looking Weaker; Risk Assets Rising Quietly.

The pound sterling continues to slide against the US dollar as the UK remains in lockdown as a result of another mutation of the coronavirus.

Bank of England: Cautious Summary Delivered Amidst Concerns

The United Kingdom's gross domestic product dropped by 8.6 percent in the third quarter (year-on-year), missing analysts' expectations of a 9.6 percent contraction and exceeding the previous quarter's 9.6 percent drop.

Risk-Off Swing Hits Markets on Coronavirus Fears; U.S. Congress Passes Second Stimulus; Dollar Looking Stronger; Countries Close Borders to U.K. on New Virus Strain.

Both the euro and the pound sterling came under pressure as Forex traders sought the save haven currencies, especially the greenback and the Japanese yen.

The United Kingdom's health minister recently revealed that a new, more contagious COVID-19 strain has been found in the U.K.

Bitcoin’s Breakout Continues to Hit Record High; S&P 500 Index Trades at All-Time High; New Coronavirus Strains in U.K. and South Africa Cause Alarm.

The US Dollar Index, used by FX traders to gauge the relative weight of the greenback, fell to a level not seen in two years before recovering in the Asian session.

Australia's Bureau of Statistics recently reported that the unemployment rate in November was at 6.8 percent, lower than October's 7 percent and expectations that the rate would remain unchanged.

Bitcoin Rises by 10% to Hit Record High; Most Major Currencies at Multi-Year Highs Against Dollar; Stocks Higher on U.S. Stimulus Hopes.

The latest data from the Eurozone helped to push the EUR/USD above the $1.22 level, the first such occurrence in more than 2½ years.

The Eurozone's manufacturing sector expanded in December, according to preliminary data.

Australia Extends Trade Dispute with China; Fresh Talks Ongoing Between E.U./U.K.; Germany Implements Tough Lockdown; Stocks & Risky Assets Lower Against Dollar.

The pound sterling steadied during Tuesday's London trade after a sharp rebound on Monday as Forex traders' collective hopes are growing that a Brexit agreement will be signed.