Nicolas

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

Top 5 Things to Know Before You Start Trading

This morning is quiet and today’s top 5 things include UK data releases, Reserve Bank of Australia (RBA) interest rate decision, gains in index prices and a fall in gold. 

1 – UK Construction PMI

The only thing of note this morning is the UK construction Purchasing Managers Index (PMI) release and the US celebrating independence day meaning markets are closed. As a result, liquidity is expected to be thin and volatility low.

2 – RBA Interest Rate Decision

Today’s biggest market mover has been the AUD/USD after the RBA has held interest rates unchanged. The pair has dropped from 0.7682 to 0.7605.

3 – EUR/USD Drops Overnight

The US dollar steadied on Tuesday after rallying on upbeat U.S. data. The USD was hit hard last week as expectations increased that central banks in Europe and Canada would eventually shift to tighter monetary policy. The EUR/USD was effectively unchanged at $1.1369 after dropping 0.6% overnight. The EUR/USD dropped from a near 14-month high of $1.1445 reached on Friday.

4 – US Indices Higher

North Korea state media said it has successfully tested an intercontinental ballistic missile. The S&P 500 index and the Dow Jones Industrial Average posted gains of 0.2 % and 0.6 %, respectively, led by financials and energy shares. Shares in Asia dropped following the missile test.

5 – Gold Extends Losses

Gold plummeted further yesterday, extending last week’s losses. The yellow metal dropped $24 yesterday reaching a low of $1218 from $1254 last week. News of the missile test from North Korea helped Gold recover to $1225 at the time of writing. The metal always benefits from geopolitical uncertainty as investors seek its relative “safety”.

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