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Washington continues to struggle to replace the existing health care bill as two other Republicans (4 so far) anounced they will not vote in favour of the Republican-proposed health care bill. If we zoom out of to get back to the bigger picture, these delays are largely percieved as damaging and seen as delaying Trump’s agenda and ability to effectively push through new legislation.

Overall sentiment remained positively-inclined however with the Nasdaq and S&P closing off in positive territory, while the DJI suffered some marginal setback.

From the currency markets however we see that the US Dollar continued to suffer losses as it marked 10-month los read more...

2017-07-19 22:52:37

COLOMBO, July 14 (Reuters) - The Sri Lankan rupee fell on Friday due to importer demand for the greenback while dollar buying by the central bank also weighed on the market, dealers said.

The spot rupee LKR= ended at 153.70/75 per dollar, slightly weaker from Thursday's close of 153.65/70

"There is some off-market importer demand. We do not see much importer demand because it is an off season. The rupee would have slightly appreciated if not for the central bank's dollar buying," said a currency dealer, asking not to be named.

Central bank officials were not immediately available for comments.

The central bank's Deputy Governor, Nandalal Weerasinghe, told Reuters on Wednesday that the bank had completely stopped defending the ru read more...

2017-07-15 09:53:11

LONDON, July 14 (Reuters) - The Japanese yen remained on the back foot against high-yielding currencies such as the Australian dollar on Friday after dovish comments from major policymakers this week reaffirmed market expectations that interest rates will rise very slowly.

"It is broadly a U.S. dollar-negative market as latest comments from Yellen and others suggest that interest rates will rise very gently and that is supportive for high-yielding currencies for now," said Viraj Patel, an FX strategist at ING Bank in London.

The Aussie AUD=D3 and sterling GBP=D3 were among the best performing currencies, especially against the Japanese yen.

Against the yen, the Australian dollar rose 0.23 percent and sterling climbed 0.31 percent, with a relatively up read more...

2017-07-15 09:48:25

Crude oil prices suffered intraday amid reports that Saudi Arabia breached the output quota it agreed to as part of the OPEC-led production cut effort. The move quickly fizzled however as the markets braced for the release of and updated EIA short-term energy outlook and API inventory flow statistics.

The cautious tone proved prescient. The EIA downgraded its forecast for US production and API said inventories lost 8.13 million barrels last week, a drawdown well in excess of 2.26 million outflow expected by investors. The WTI benchmark responded with the largest daily gain in two weeks.

From here, official DOE inventory figures as well as the OPEC monthly report are on tap. The World Petroleum Congress taking place in Istanbul may also generate market-moving com read more...

2017-07-12 12:13:47

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