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AUD/USD 0.79686 23:30 27.07 GBP/JPY 145.298 23:30 27.07 EUR/JPY 129.890 23:30 27.07 EUR/USD 1.16822 23:30 27.07 USD/JPY 111.182 23:30 27.07 NZD/USD 0.74956 23:00 27.07 AUD/NZD 1.06352 23:00 27.07 USD/JPY 111.232 22:30 27.07 BITCOIN 2648.744 22:00 27.07 EUR/USD 1.16753 22:00 27.07 USD/CHF 0.96480 21:00 27.07 USD/CAD 1.25536 21:00 27.07 GBP/USD 1.30655 21:00 27.07 EUR/GBP 0.89385 21:00 27.07 AUD/USD 0.79673 20:30 27.07 USD/CAD 1.25549 20:30 27.07 EUR/USD 1.16768 20:30 27.07 GBP/CHF 1.26068 20:30 27.07 GBP/USD 1.30624 20:15 27.07 TOYOTA (US) 111.700 20:00 27.07 ALIBABA 154.270 20:00 27.07 JOHNSON & JOHNSON 130.810 20:00 27.07 BANK OF AMERICA 24.115 20:00 27.07 WAL-MART 79.785 20:00 27.07 EUR/CHF 1.12626 20:00 27.07 JP MORGAN CHASE 91.545 20:00 27.07 AUD/CAD 1.00042 20:00 27.07 DOLLAR INDEX-APR17 93.770 20:00 27.07 McDONALD'S 156.965 20:00 27.07 EUR/CAD 1.46627 20:00 27.07

Market Review

DAILY MARKET OVERVIEW
Today's Top Market Headlines – Jan 24, 2017
European Markets stabilize after three days of losses

European stocks have steadied on Tuesday even as concerns prevail about the early days of Donald Trump’s administration. The U.S. dollar wallowed near seven-week lows on Trump’s protectionist trade stance giving a boost to the sterling, gold and oil.  Overnight, U.S. stocks fell but closed off their day’s lows as Trump vowed to impose a major border tax on companies that move overseas while the new president also abandoned the Trans-Pacific Partnership free-trade deal and announced plans to renegotiate the terms of NAFTA at an appropriate time. In today’s European markets, Germany’s DAX added 0.2 percent, U.K.’s FTSE 100 added 0.3 percent, France’s CAC 40 added 0.1 percent while the Euro Stoxx 50 added 0.2 percent as of 9:45 GMT.

Trump to meet with U.S. auto CEOs

President Trump will have breakfast today with the heads of Ford and Fiat Chrysler. The new president aims to put pressure on the auto industry to boost U.S. employment. It should be noted that this meeting marks the first time the CEOs of the Big Three carmakers meet jointly with a U.S. president since the July 2011 session with President Obama.

Investors tune in for UK Supreme Court

At 9.30am, the UK supreme court will rule on whether parliament must give its approval before Britain can begin its departure from the European Union. Investors will be tuning in to determine whether Prime Minister Theresa May needs parliamentary approval to trigger formal Brexit talks. It should be noted that if a majority of justices decide, as is widely expected, that parliamentary support is required, then the judgment could specify that legislation is needed. UK public finance figures were also released at 9.30am GMT, covering December. Britain borrowed around £6.421bn to balance the books last month according to the figures released this morning.

Oil prices rebound on weaker dollar and OPEC production cuts

Oil climbed on Tuesday as a weaker U.S. dollar and production cuts announced by OPEC and other producers buoyed the markets. It should be noted however, that an increase in drilling activity in the United States has kept profits rather modest. Indicatively Brent crude LCOc1, the international benchmark for oil prices, was up 52 cents, or 0.9 percent, at $55.75 as of 9:50 GMT, while U.S. West Texas Intermediate (WTI) crude futures CLc1 added 49, or 0.1 percent to last trade at $53.12 a barrel.