Nicolas

Chief Client Relationships Officer Responsible for the relationship with all our organization’s customers. I oversee the Customer Support and Customer Relationship Departments.

Another day, another fall for the Dollar which due to the situation in the US (trump Russia Scandal, FBI sacking) is weighing on investor sentiment. Trump has been a long favorite of implementing tax costs which would have stimulated the economy, however the latest developments give rise to speculation that his tenure as president could be short-lived.

  • The dollar, fell 0.13% against a basket of currencies, with weakness most evident against the EUR which reached 1.1158, its highest since the US Presidential election on November 8th 2016.
  • The political turmoil and uncertainty has benefited gold which rose as high as $1244 from last week’s $1216 lows. Gold always benefits at times of investors lack of confidence in the stock markets. Yesterday was its 5th consecutive day of gains.
  • Loss of confidence also benefits the Yen, which dropped to 112.70 from 113.83 on Friday.
  • The Dow Jones tumbled 121 points to 20,813 and Japan’s Nikkei 225 slipped 0.62%, while the s&P/ASx 200 fell 0.81%. The S&P 500 closed flat while the Nasdaq Composite closed at 6169.87, up 0.33%.
  • Going forward the market will continue to be stressed on Trump’s mishap. The economic calendar is not filled with important data, other than Crude oil inventories.

 

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