Here are the top five things you need to know in financial markets on Wednesday, July 9: 1. Fed's Powell to testify before Congress Federal Reserve Chairman Jerome Powell will be the focus of attention as he delivers his semiannual monetary policy report to Congress at 10:00 AM ET (14:00…

Sterling tumbled in early trade in Europe on Tuesday amid increasing signs that the economy has started to contract, and fears that the situation will only get worse in the short term due to the ongoing Brexit drama. Overnight, the British Retail Consortium reported that like-for-like retail sales fell 1.6%…

The greenback jumped to 3 weeks high on a better than expected jobs report last week that reduced the expectation of the Federal Reserve rate cuts this month. The U.S Non Farm Payrolls rose to 224,000 from 75,000 last month beating the economists expectation of 160,000. The USDCHF was about…

Here are the top five things you need to know in financial markets on Wednesday, July 3: 1. U.S. stocks set for fresh record highs in holiday trade After two straight sessions of record closes for the S&P 500, the global equity benchmark looked set to continue the rally higher…

The U.S. dollar slipped on Tuesday in Asia despite a trade truce between the U.S. and China. The Aussie dollar gained after the Reserve Bank of Australia (RBA) cut interest rates. The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 96.352 by…

EURUSD begins the week with a bearish move below 1.13500 which is -0.38% down as of writing. The unemployment rate for the month of may dropped from 10.1% to 9.9% in the Eurozone and the EU unemployment rate as 7.5% vs 7.6% expected. The main currency pair remains pressured by…

Here are the top five things you need to know in financial markets on Monday, July 1: 1. U.S. and China reach trade truce The U.S. and China agreed on Saturday to restart trade talks after U.S. President Donald Trump agreed to hold off on the implementation of new tariffs…

GBPUSD struggling near 1.2750 ahead of G-20 Summit later this week. The pair tested 1.27800 in the early trading session despite a sharp drop in the UK CBI Retailing Reported Sales and broad US Dollar Recovery. The pair finally reached 1.2760, albeit increasing fears of a no-deal Brexit kept a…

The dollar continued its decline in early trading in Europe Tuesday, with the yen and euro strengthening as traders anticipate the erosion of the interest rate premium on dollar assets. Overnight, the dollar fell to a 14-month low of 106.79 against the yen, before recovering slightly to trade at 106.97…

The dollar was on the back foot on Monday after sustaining its biggest weekly drop in four months last week as traders remained cautious about the prospects of trade talks between the United States and China at this week's G20 summit. The greenback has been on the receiving end of…