Market Overview 2018.08.07

07-08-2018 10:44:01
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EUR/USD

The euro strengthened against the US dollar during Asian trading. At the moment, the strengthening of the euro is attributed to the technical correction after the several-day weakening of the common European currency. At 08:00 in Germany, data on industrial production will be published, while at 16:00 in the United States, JOLT will be announced a number of new jobs, which could all be reflected in the exchange rate of this currency pair. At the end of Asian trading, the euro is exchanged for $ 1.1557, representing a gain of 0.03%.

EUR/USD by SGT Markets Forex Broker and CFD | August 07, 2018 EUR/USD indicators by SGT Markets Forex Broker and CFD | August 7, 2018

GBP/USD

The British pound strengthened against the US dollar during Asian trading. Despite the current build-up, the British currency has been under diminishing pressure because of concerns that the EU’s withdrawal from the EU could not go smoothly as it was expected at first. Today at 4:00 pm in the United States will be announced JOLT number of new jobs, which could all be reflected in the exchange rate of this currency pair. At the end of Asian trading, the British pound is exchanged for $ 1.2946, an increase of 0.02%.

GBP/USD by SGT Markets Forex Broker and CFD | August 07, 2018 GBP/USD indicators by SGT Markets Forex Broker and CFD | August 7, 2018

USD/JPY

During the Asian trade, the US dollar weakened against the Japanese yen. Japanese yen strengthened as a “safe haven” financial instrument after the first set of US financial sanctions against Iran came into force. Today at 4:00 pm in the United States will be announced JOLT number of new jobs, which could all be reflected in the exchange rate of this currency pair. At the end of Asian trading, the US dollar is exchanged for 111.33 Japanese yen, representing a weakening of 0.07%.

USD/JPY by SGT Markets Forex Broker and CFD | August 07, 2018 USD/JPY indicators by SGT Markets Forex Broker and CFD | August 7, 2018

GOLD

Gold prices strengthened during Asian trade. The price of yellow metal began recovering after a multi-day decline that was caused by the strengthening of the US dollar. However, expectations that the Federal Reserve will increase the reference interest rate at the next meeting in September will still support the growth of the US currency, hence this slight recovery could be temporary. At the end of Asian trading, the price of gold is around US $ 1,218.40, which is an increase of 0.06%.

GOLD by SGT Markets Forex Broker and CFD | August 07, 2018 GOLD indicators by SGT Markets Forex Broker and CFD | August 7, 2018

OIL

During Asian trade, the price of crude oil has strengthened. This morning, the first package of financial sanctions against Iran by the United States came into force. Bearing in mind that Iran is one of the leading producers of crude oil within the OPEK cartel, there is a possibility of increased price fluctuations on the price of this fuel. At 22:30 tonight, the US Petroleum Institute will publish a report on the stock of this fuel, which could further reflect on the price of crude oil. At the end of Asian trading, the price of crude oil ranges around $ 69.17 per barrel, an increase of 0.23%.

OIL by SGT Markets Forex Broker and CFD | August 07, 2018 OIL indicators by SGT Markets Forex Broker and CFD | August 7, 2018