During the Asian trade, the euro weakened against the dollar. The disagreement about migration policies affects the stability of the German government and thus the euro. Yesterday it was announced that the leader of the CSU party, Angela Merkel’s coalition partner, intends to resign as a minister and president of the party, which would instill instability in the functioning of the recently formed German government. At around 8:35 am, the euro is exchanged for $ 1.1645, which at the beginning of the European session shows a weakening of the euro by 0.33%. At 9:55 am, an indicator of the dynamics of economic activity in the manufacturing industry of Germany will be published, and about ten minutes earlier from Italy and France. At 16:30, an ISM will be published as an indicator of the dynamics of economic activity in the US manufacturing industry.
During Asian trading, the British pound recovered against the US dollar. The British currency follows the movement of the euro, which has achieved a strong recovery against the dollar. At around 08:45 hours, this currency pair is at $ 1,3114 per pound, which means a gain of 0.28%. At 10:30, an indication of the dynamics of economic activity in the manufacturing industry of the UK will be published. At 16:30, the same is expected (ISM) data from the United States.
During Asian trading, the Japanese yen moved from the weakening phase to the strengthening phase against the dollar. Much better than expected, (Tankan) indicators of economic activity in Japan were supported by the Japanese yen. At around 08:45, this currency pair is traded around the level of 110.74 yen per dollar, which at the beginning of the European session makes the yen stronger than the dollar by 0.03%. At 16:30, an ISM will be published as an indicator of the dynamics of economic activity in the US manufacturing industry.
The gold price, in line with the trend last week, continued to slide down. At around 8:50 am, the price of gold is around $ 1249 for a fine ounce. At 16:30, an ISM will be published to show the dynamics of economic activity in the manufacturing industry of the United States which, in the short term, can affect the movement of the US dollar, and indirectly to gold.
During Asian trade, the price of crude oil declined. Slowdown in economic growth in Asia increased exports from Saudi Arabia halted a strong rise in oil prices. In addition, it was announced that US President Donald Tramp had asked the Saudi King that his country would increase production. At around 8:50 am, crude oil is traded about $ 73.47 per barrel, which has been falling from 0.02% since the beginning of trading today.