The euro has weakened against the US dollar during Asian trade. The exposure of European commercial banks to Turkey and the sharp fall of the Turkish lira continue to burden the common European currency even during early trading on Monday. This week, a reading of the gross domestic product in Germany will be published, as well as retail data in the US, which could affect the exchange rate of this currency pair. At the end of Asian trading, the euro is exchanged for $ 1.1392, representing a weakening of 0.15%.
The British pound weakened against the US dollar during Asian trading. The uncertainty about reaching a bargzite agreement still has a negative impact on the British currency. This week, we expect more economic data from the United Kingdom. Namely, labor market data, inflation and retail data will be published, which could create increased price fluctuations in the exchange rate of this currency pair. At the end of Asian trading, the British pound is exchanged for $ 1.2769, representing a weakening of 0.02%.
During the Asian trade, the US dollar weakened against the Japanese yen. The sudden weakening of the Turkish lira and the ECB’s data on the exposure of European commercial banks to Turkey has created the so-called ” “Risk off” sentiment, which has influenced the strengthening of currencies considered a safe haven, which in turn strengthened the Japanese yen. This week, retail data will be published in the US, which could reflect the currency of this currency pair. At the end of Asian trading, the US dollar is exchanging for 110.31 Japanese yen, a 0.47% weakening.
The price of gold weakened during Asian trade. The price of yellow metal is under declining pressure as a reaction to the strengthening of the US dollar, which is currently at the highest levels in the last thirteen months. Strengthening the US dollar is supported by good economic indicators in the US, an increase in yields on US debt securities and a high probability that the reference interest rate in the US will increase in September. At the end of Asian trading, the price of gold is around US $ 1,215.50, representing a weakening of 0.29%.
During Asian trade, the price of crude oil has weakened. On Friday night, the Baker Hughes report showed an increase in the number of oil wells for ten that weakened the price of this fuel. Also, the slowdown in economic growth and the slowdown in demand for crude oil additionally puts pressure on the price of this fuel. During the day, a monthly bulletin of the OPEK cartel will be published, which can be further reflected in the price of crude oil. At the end of Asian trading, the price of crude oil ranges from around $ 67.56 per barrel, a decrease of 0.12%.