During the Asian trade, the euro weakened against the dollar as the uncertainty drew between investors in connection with the results of parliamentary elections in Italy and the outcome they will bring when a parliamentary majority is formed in the third economy of the euro zone. On the other hand, the euro supports the yesterday’s decision by the German Social Democrats to back a new government led by Angela Merkel. At around 8:20 pm, the euro is exchanged for $ 1.2290, which at the beginning of the European session shows a gain of 0.22%.
During the Asian trading, the dollar strengthened against the British pound. The dollar is still pressuring President Trump’s decision last week – that the US introduce customs duties on imports of steel and aluminum. At 10:30 am, an indicator of (sentiment) economic activity in the UK service sector will be announced for February. At around 8:35 am, this currency pair is at $ 1,3781 per pound, which means a gain of 0.14%.
During the Asian trade, the Japanese yen strengthened against the dollar that still exerts pressure on President Trump’s decision last week – that the US introduce customs duties on imports of steel and aluminum. A meeting of the Bank of Japan is held this week. At around 8:35 am, this currency pair is traded at 105.38 yen per dollar, which at the beginning of the European session makes the dollar weaker than the yen by 0.35%.
Gold prices are rising during Asian trade. The uncertainty in Italy after the parliamentary elections held yesterday and the possible rising trade war support the price of yellow metal. The gold price is about $ 1326 for a fine ounce around 8:30 am.
The price of crude oil has risen on account of the expectation that large US oil companies and members of the OPEC and Russia can bring closer attitudes at a major industry conference held in Texas today. About 08:25 hours, crude oil is traded about $ 61.36 a barrel, which has been modest since 0.18% since this morning.