The euro weakened against the US dollar during the Asian trade. German Chancellor Angela Merkel said she would report to the German president on the unsuccessful negotiations over a coalition government that the Green Party and the Free Democrats Party should have made. As a reaction, the euro has weakened against the US dollar. During this day, more European Central Bank officials will speak in the afternoon, as will President Mario Draghi, which can be further reflected in the exchange rate of this currency pair. During the Asian trade, the euro weakened against the US dollar by 0.49%.
The British pound weakened against the US dollar during Asian trading. For now, the announcement of significant economic information from the UK and the US has not been announced, so that the exchange rate of this currency could remain under the current fundamental effects of primarily negotiations on the UK’s EU outbreak and further development of the implementation of tax reform in the United States. During the Asian trading, the British pound weakened against the US dollar by 0.08%.
The US dollar weakened against the Japanese yen during Asian trading. This morning, a mixed balance of trade balance data in Japan, which has so far affected the weakening of the exchange rate of this currency pair. Also, the US currency is still under diminishing pressure, mainly due to further progress in the introduction of tax reform in the US and special investigations into alleged Russian involvement in the US presidential election. During the Asian trade, the US dollar weakened by 0.04% against the Japanese yen.
The price of gold weakened during Asian trade. During the Asian trade so far, market participants turned to more risky investments, which had a detrimental effect on the price of this secure investment. During this day, the price of this precious metal may be affected by the political uncertainty in Germany after Chancellor Angela Merkel stated that she failed to form a coalition government and the process of further streamlining the tax reform in the United States. During Asian trading, the price of gold declined by 0.38%
During Asian trade, the price of crude oil has weakened. On Friday, the Baker Hughes report showed that the number of newly opened oil wells in the US did not change, remained at the number of 738. The current Asian trading session is marked by relatively peaceful trading, which is explained by the expectation of the forthcoming meeting of the OPEC cartel in Vienna on November 30th, which should consider prolonging the agreement on reducing the production of this energy product. During Asian trade, the price of crude oil declined by 0.14%.
Dax30 fell by 0.41% on Friday. The largest decline was recorded in the shares of the base industry, the media and the software industry. From the winners, Linde AG O.N (+ 2.60%) and the losers of RWE AG (-3.93%) were singled out. The index of volatility on the German index, which shows the sentiment (fear) of the investor regarding the expected volatility in the future period, dropped to 14.05 points or a decrease of 1.59%.