Market Wrap




Global FX

GLOBAL FX NEWS :

      • ASIAN MARKETS

        Asian shares mostly held gains on Monday despite a weekend missile test by North Korea that raised further concerns on its ability to deliver a nuclear warhead as far as the U.S. states of Hawaii and Alaska, while markets digested news that Ford would replace CEO Mark Fields with executive Jim Hackett.

      • GOLD
         

        Gold prices edged lower on Monday as Asian stocks gained, although political worries surrounding U.S. President Donald Trump are expected to keep supporting appetite for the metal as a so-called safe-haven asset.

      • OIL

        Oil prices rose on Monday, supported by reports that an OPEC-led supply cut may not only be extended into next year but might also be deepened to tighten the market and prop up prices.

      • CHINA 

        China's commerce minister Zhong Shan told new United States Trade Representative Robert Lighthizer the two sides should strengthen cooperation and manage disputes in trade, according to a statement on the website of China's Ministry of Commerce on Monday.
         
      • NORTH KOREA

        North Korea said on Monday it had successfully tested an intermediate-range ballistic missile to confirm the reliability of the late-stage guidance of the warhead, indicating further advances in the ability to hit U.S. targets.

         
      • IRAN

        Iranian Foreign Minister Mohammad Javad Zarif on Sunday criticised U.S. President Donald Trump for sealing an arms deal and other investments worth hundreds of billions of dollars with Saudi Arabia, Tehran's arch-rival in the Middle East.

         
      • JAPAN

        Japan's exports rose in April to mark their fifth straight month of gains, as shipments of semiconductors and steel expanded, signalling that more robust overseas demand could underpin a steady economic recovery.

         
      • UAE

        A senior United Arab Emirates official said on Sunday the re-election of moderate Iranian President Hassan Rouhani could be a chance for Tehran to reset "its troubled relations" with its neighbours.