The euro strengthened against the US dollar during Asian trading. The dollar has moved away from the highest recorded value in the past 11 months. The reason for this is the closure of earlier profitable positions, as well as yesterday’s disappointing data on the Fed’s manufacturing activity index in Philadelphia. Today at 9:30 am the index of procurement managers of the manufacturing and service sectors in Germany will be published, while the same data at 15:45 will be published in the USA, which could reflect the exchange rate of this currency pair. At the end of Asian trading, the euro is exchanged for $ 1.1620, representing an increase of 0.15%.
The British pound strengthened during Asian trading. After yesterday’s meeting of the Bank of England, where a member of the Monetary Policy Committee, Andy Halden, somewhat unexpectedly pledged to increase the interest rate, the British currency strengthened. At 15:45 in the United States, data from the index of the procurement of the manufacturing sector and the service sector in the USA will be published, which could reflect the exchange rate of this currency pair. At the end of Asian trading, the British pound is exchanged for 1.3273 USD, which is a gain of 0.24%.
During the Asian trade, the US dollar strengthened against the Japanese yen. This morning, Japan’s index of consumer prices of foods that exclude food was published within the expected values. At 15:45 in the United States, data from the index of the procurement of the manufacturing sector and the service sector in the USA will be published, which could reflect the exchange rate of this currency pair. At the end of Asian trading, the US dollar is exchanged for 110.01 Japanese yen, which is a gain of 0.01%.
The price of gold weakened during Asian trade. Over the course of overnight trading, the price of gold has managed to separate itself from the lowest recorded value in the last 11 months. Tensions in the face of trade disputes between China and the United States are still present, hence the price of gold as a safe financial instrument could react. At the end of Asian trading, the price of gold is exchanged for $ 1,270.20, representing a decline of 0.03%.
During Asian trade, the price of crude oil has strengthened. Today, a meeting of the OPEK cartel in Vienna will take place, with a final decision on the question of whether and how much the production of crude oil will increase. OPEK does not have a unique position on this issue, since the increase in production is being hampered by individual member states, primarily Iran. Bearing in mind that there is no exact time when the final decision will be announced, today’s day price rises in crude oil prices are possible. At the end of Asian trading, the price of crude oil ranges around $ 66.28 per barrel, an increase of 1.13%.