Market Overview 2018.05.07

07-05-2018 11:08:56
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EUR/USD

During Asian trading, the euro is in a downward downward trend against the US dollar. This morning, it disappointed the March information on factory orders in Germany. Namely, there was a decrease of 0.9% and expected growth of 0.5%. In addition, there are no economic news and announcements from the EU today. On Friday, the euro reached the lowest level since the beginning of this year, after publishing reports from the US labor market that showed mixed results. However, the unemployment rate has dropped more than expected, and revisions of previous data on the number of newly created jobs (sensitivity) have improved for the better. At around 8:40 am, the euro is exchanged for $ 1.1940, which at the beginning of the European session shows a 0.18% drop in the euro. In the afternoon, an ECB official and Fed will speak.

EUR/USD by SGT Markets Forex Broker and CFD | May 7, 2018 EUR/USD indicators by SGT Markets Forex Broker and CFD | May 7, 2018

GBP/USD

During the Asian trading period, the British pound was negatively amplified against the US dollar. Today there are no economic news and announcements from the UK, because it is a non-working holiday in that country. At 08:40, this currency pair is at $ 1.3541 per pound, which means the pound’s weakness is 0.07%. The disagreement within the British government led by Prime Minister Theresa May, as well as the likely delay in the increase in the interest rate of the Bank of England on Thursday, when a regular meeting is held, continue to put pressure on the pound.

GBP/USD by SGT Markets Forex Broker and CFD | May 7, 2018 GBP/USD indicators by SGT Markets Forex Broker and CFD | May 7, 2018

USD/JPY

During the Asian trading, the dollar was mild (o) stronger than the Japanese yen. At around 08:45, this currency pair is traded at 109.22 yen per dollar, which makes the dollar stronger at the beginning of the European session by 0.09% over the yen. On Friday, the yen (o) strengthened for the purpose of covering trader positions that included yen and high-priced currencies, such as Turkish lira.

USD/JPY by SGT Markets Forex Broker and CFD | May 7, 2018 USD/JPY indicators by SGT Markets Forex Broker and CFD | May 7, 2018

GOLD

The price of gold at the end of the Asian and the beginning of European trading is mainly a downward trend. The US dollar is still struggling against the main currencies. At around 8:50 am, the price of gold is about $ 1313 for a fine ounce. Today there are no major economic news and announcements from the United States. On Friday, a report from the US labor market showed mixed results. However, the unemployment rate has dropped more than expected, and revisions of previous data on the number of newly created jobs (sensitivity) have improved for the better.

GOLD by SGT Markets Forex Broker and CFD | May 7, 2018 GOLD indicators by SGT Markets Forex Broker and CFD | May 7, 2018

OIL

During Asian trade, oil prices are in a strong upward trend. The economic collapse in Venezuela halving production from the best days, awaiting the decision of US President Donald Tramp, by May 12 – the reintroduction of sanctions against Iran has affected the growth of this energy price. Baker Hughes’ weekly report – on the number of oil wells in the US, showed growth for nine units on Friday night (a total of 834). At 08:35 hours, crude oil is traded for around $ 70.47 per barrel, which gives a symbolic increase of 1.08% this morning.

OIL by SGT Markets Forex Broker and CFD | May 7, 2018 OIL indicators by SGT Markets Forex Broker and CFD | May 7, 2018