Monday 18th September Business & Commercial Briefing: including Forex movements, Gold and FTSE 100
Commodities Update – The Latest from the Financial Markets FTSE & DOW
After the Bank of England’s Monetary Policy Committee last week put the focus on the UK, and gave Sterling some impetus after months of devaluation, this week all eyes will likely be on the US.
The two-day Federal Open Market Committee meeting, on Tuesday and Wednesday, could see the Federal Reserve unveil another hike in US interest rates.
Oil Prices Hold steady after new reports supporting demand
Brent crude prices have steadied above $55 a barrel after gaining ground yesterday on a report by the International Energy Agency (IEA) that predicted stronger demand for oil. Global benchmark Brent crude prices were down 0.11 per cent at $55.10 per barrel,
Gold Prices fall against the Dollar
Gold prices edged lower today after a rally throughout August and early September petered out this week. The precious metal commodity slipped below $1,322 per ounce this morning, but it has since risen back to $1,327.60, just 0.03 per cent below its closing price yesterday.
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Forex – Today’s Exchange Rates & Latest Prices on Cryptocurrencies
The rise of Bitcoin earlier this weak to $5000 has resulted in a drop by 12%. The pound has become weaker and is effecting foreign investment into the UK. Which has again fallen.
Bitcoin hits a three week low as it gets slammed as ‘Volatile’
Bitcoin prices have tumbled over $1,000 over the past month as China clamps down on cryptocurrency. Chinese authorities have reportedly decided to ban the trading of Bitcoin and other cryptocurrencies on domestic exchanges. That has pushed Bitcoin as low as $3,978 over the weekend. It has since ticked upward to about $4,177 as of early Monday.
Additionally JP Morgan Chase chief executive Jamie Dimon slammed cryptocurrencies as a “fraud” last night, pushing the already slipping value of Bitcoin down another notch.
The Pound rises against the Euro
The pound rose to more than a three-week high against the euro today as investors speculated that the Bank of England may sound more hawkish on interest rates this week. The pound gained 0.2 per cent today, at less than 91 pence per euro for the first time since 18 August.
The US Dollar hits a 12 month low
The US dollar fell to its lowest level in 18 months on This morning as North Korean tensions and flooding in Texas added to the strong euro to drive the greenback lower. Despite the physical threat to the Japanese mainland, the yen, a traditional safe haven, appreciated sharply against the dollar. The dollar fell to its lowest level since April 2017 against the yen in morning trading, at ¥108.27.
Get the latest information from the financial markets. Including the latest value on the Dollar, Pound, Euro, Pak Rupee, UAE Dirham, Indian Rupee. This section also includes all the latest information the cryptocurrencies.
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