Market Overview 2018.05.21

21-05-2018 11:08:04
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EUR/USD

The euro has weakened against the US dollar during Asian trade. After US Treasury Secretary Stephen Mnucin said the US-China trade war was suspended, market participants turned their demand to more risky investments, which strengthened the US currency. Today there are no economic news from the eurozone, while members of federal reserves, Bostic, Harker and Kashkari will address the evening in the US, which could affect the exchange rate of this currency pair. At the end of Asian trading, the euro is exchanged for 1.1750, which represents a weakening of 0.17%. 

EUR/USD by SGT Markets Forex Broker and CFD | May 21, 2018 EUR/USD indicators by SGT Markets Forex Broker and CFD | May 21, 2018

GBP/USD

The British pound weakened during Asian trading. At the beginning of this week, there is noticeable strengthening of the US dollar against the most traded world currencies. Over the weekend, US and Chinese officials agreed that as long as the negotiations on trade relations lasted, there were no new trade tariffs, which strengthened the US dollar. There are no economic news from the United Kingdom today, while members of the federal reserve, Bostic, Harker and Kashkari will address the public in the evening, which could reflect the exchange rate of this currency pair. At the end of Asian trading, the British pound ranges around 1.3432, representing a weakening of 0.32%.

GBP/USD by SGT Markets Forex Broker and CFD | May 21, 2018 GBP/USD indicators by SGT Markets Forex Broker and CFD | May 21, 2018

USD/JPY

The US dollar strengthened against the Japanese yen during Asian trade. Japanese yen as a “safe haven” financial instrument is weakening in response to Secretary of State Finance for Finance Steven Mnucin that a trade war between the US and China has been suspended as long as the negotiations between the two countries take place. However, Japan’s trade balance data released this morning showed that this country recorded a higher surplus than was expected, which could affect the Japanese yen. In the evening, in the United States, members of the Federal Reserve, Bostic, Harker and Kashkari will address the public, which could affect the exchange rate of this currency pair. At the end of the Asian trade, the US dollar is exchanged for 111.27 yen, which is a gain of 0.44%.

USD/JPY by SGT Markets Forex Broker and CFD | May 21, 2018 USD/JPY indicators by SGT Markets Forex Broker and CFD | May 21, 2018

GOLD

The price of gold weakened during Asian trade. After a more conciliatory rhetoric has been heard from the latest US-China negotiations on trade relations, the US dollar has reached a new record value, while the price of gold has continued to weaken. In the evening, US Federal Reserve members, Bostic, Harker and Kashkari will address the public, which could in the short term reflect the price of gold. At the end of Asian trading, the price of gold ranged around $ 1,285.90, representing a weakening of 0.43%.

GOLD by SGT Markets Forex Broker and CFD | May 21, 2018 GOLD indicators by SGT Markets Forex Broker and CFD | May 21, 2018

OIL

During Asian trade, the price of crude oil has strengthened. After the United States and China, two of the world’s most developed economies agreed to refrain from introducing new tariffs, the price of crude oil has strengthened. On Friday, the Baker Hughes report showed that the number of newly opened oil wells remained unchanged compared to the previous week, i.e. is 844, which is still the highest number of oil wells since March 2015. Today, a meeting of the OPEK cartel will be held, which could reflect the price of this fuel. At the end of Asian trading, the price of crude oil ranges around $ 71.88, which is a gain of 0.73%.

OIL by SGT Markets Forex Broker and CFD | May 21, 2018 OIL indicators by SGT Markets Forex Broker and CFD | May 21, 2018