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 Monday we are awaiting a few data releases and central bank speeches. We also see the EUR and AUD higher while the USD suffers from ongoing White House Controversy. 

1 – Stocks Lower as EUR Rises

Stocks were hit hard on Friday as the EUR/USD continued to climb to 2-year highs. A higher Euro (EUR) hurts Europe’s exports, hence stock markets – especially the German DAX – suffer when the EUR rises as prices of products to be exported rise too.

2 – A Look at Today’s Financial Calendar

The financial calendar is light today featuring only EU and US July PMI business surveys, the US Existing Home Sales and speeches of European Central Bank (ECB) Smets and  Bank of England (BoE) Brazier. The Organization of Petroleum Exporting Countries (OPEC) meets non-OPEC countries to discuss production cuts. Later in the week, on Wednesday, we have the Federal Open Market Committee (FOMC) meeting.

3 – USD: Last Week’s Weakest Currency

Friday saw the US dollar (USD) weaken significantly across the board putting it in line to be the worst performing currency of the week. Uncertainty on the potential political fall-out of the investigations against President Trump and people close to him are weighing on the USD.

4 – Gold Prices at 2-Month High

Gold prices rose to the highest level in a month today. This follows an already 2% price increase last week as ongoing political turmoil in the White House and weakness in the USD spurred haven demand for the precious metal.

5 – AUD Higher

The Australian dollar (AUD) gained ground, with AUD/USD rising 0.45% to 0.7956, holding below the 26-month high of 0.7992 set on Friday.

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