Market Overview 2018.05.24

24-05-2018 09:10:51
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EUR/USD

The euro strengthened against the US dollar during Asian trading. Last night, notes from a Federal Reserve meeting indicated that a certain increase in the interest rate at the next meeting in June, however, the Federal Reserve’s announcement that it would tolerate an inflation rate above 2% for now has slightly weakened the US currency. The weakening of the dollar was further supported by US President Donald Trump’s announcement that an investigation would be carried out on whether imports of cars threaten the national security of this country. At 8:00 am in Germany, reading of the gross domestic product will be published, while at 13:30, the European Central Bank will publish notes from the previous meeting, which could cause increased price fluctuations in the exchange rate of this currency pair. At the end of Asian trading, the euro is exchanged for $ 1.1705, representing an increase of 0.08%.

EUR/USD by SGT Markets Forex Broker and CFD | May 24, 2018 EUR/USD indicators by SGT Markets Forex Broker and CFD | May 23, 2018

GBP/USD

The British pound strengthened against the US dollar during Asian trading. The Federal Reserve’s intention to tolerate the inflation rate above the target level of 2% for now and the announcement by the US president of an investigation aimed at determining whether imports of cars threaten national security have weakened the US currency. Today at 10:00 in the United Kingdom, the Bank of England Governor Mark Carney will address the public, while half an hour later will also publish retail data in the UK, which can cause increased price fluctuations in the exchange rate of this currency pair. At the end of Asian trading, the British pound is exchanged for 1,3369 US dollars, which represents a gain of 0.16%.

GBP/USD by SGT Markets Forex Broker and CFD | May 24, 2018 EUR/USD indicators by SGT Markets Forex Broker and CFD | May 24, 2018

USD/JPY

The US dollar weakened against the Japanese yen during Asian trading. The Federal Reserve’s intention to tolerate the inflation rate above the target level of 2% for now and the announcement by the US president of an investigation aimed at determining whether imports of cars threaten national security have weakened the US currency. Today at 4:00 pm in the United States will be published data on the number of sold existing houses, which can be further reflected in the exchange rate of this currency pair. At the end of Asian trading, the US dollar is exchanged for 109.35 yen, which represents a 0.66% weakening.

USD/JPY by SGT Markets Forex Broker and CFD | May 24, 2018 USD/JPY indicators by SGT Markets Forex Broker and CFD | May 24, 2018

GOLD

Gold prices strengthened during Asian trade. The political risk has increased in the financial market after US President Donald Tramp announced that he would investigate whether imports of cars in the US are a threat to the national security of this country. Also, the uncertainty about the upcoming summit between North Korea and the United States further increases the demand for safe investments. At the end of Asian trading, the price of gold is around $ 1,294.70 per one ounce, which is a gain of 0.40%.

GOLD by SGT Markets Forex Broker and CFD | May 24, 2018 GOLD indicators by SGT Markets Forex Broker and CFD | May 24, 2018

OIL

During Asian trade, the price of crude oil has weakened. The issue of the export of crude oil from Iran and Venezuela was quite worrying about the OPEC cartel, which is now considering easing the agreement on reducing production between member countries and non-members of this organization. The weakening of the price of this fuel was further supported by the growth of crude oil stocks, which was released yesterday by a US government report. At the end of Asian trading, the price of crude oil ranges around $ 71.58 per barrel, representing a weakening of 0.36%.

OIL by SGT Markets Forex Broker and CFD | May 24, 2018 oil indicators by SGT Markets Forex Broker and CFD | May 24, 2018