Daily review

The Sterling declined today as the Office of National Statistics (ONS) released the retail sales data for December.

The price of crude oil was relatively unchanged today after the International Energy Agency (IEA) released its monthly report.

The euro rose today as traders received some positive data from Europe. Data from Eurostat showed that industrial production rose by 0.2% in November.

The price of crude oil rose slightly after European leaders triggered Iran's nuclear deal’s dispute mechanism. This is in response to the latest hostilities between the United States and Iran.

The sterling declined today as concerns grew that the Bank of England will slash interest rates this year. This happened as the market received important data from the country.

The Japanese yen continued weakening against the USD as tensions between the United States and Iran eased. This is even after reports claimed that Iran was responsible for the Boeing crash that happened two days ago.

The US dollar rose today after some weak data from Europe and after poll data showed a sharp increase in support of Trump’s economic policies.

The markets woke up to the news that Iran had fired a dozen ballistic missiles at two American bases in Iraq. This was in reaction to the recent assassination of an Iranian general by American forces.

The sterling declined slightly today as the market continued to focus on Brexit. The UK is expected to exit the European Union on January 31.

The price of gold rose to a seven-year high as the market reacted to growing global tensions. This is after the United States, Iran and Iraq escalated their rhetoric following the murder of an Iranian general.