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 Friday both the EUR and USD are under pressure while safe havens such as gold and the JPY are higher due to Barcelona tragic attack. 

1 – EUR Lower Following ECB Minutes

European Central Bank (ECB) minutes yesterday revealed that the ECB expressed concern over the risk of euro rising too fast too soon. The Euro has strengthened further since the ECB meeting in July. On the back of the ECB minutes, EUR/USD dropped to 1.1661 before rebounding to 1.1730 at the time of writing.

2 – Fed Minutes Put USD Under Pressure

The US dollar (USD) also remained under pressure after the minutes of the Fed’s July policy meeting, released on Wednesday, showed that members of the central bank remain divided over the need to raise interest rates further this year, citing low inflation

3 – JPY Higher Following Tragic Barcelona Attack

Attacks in Barcelona last night, caused a flow of funds into safe haven assets such as gold and the Japanese Yen (JPY). USD/JPY dropped to 108.97 down from 110.35 yesterday while gold rose to 1293, up from 1267 2 days ago. The Islamic State claimed responsibility for the incident. Spanish police said that two men had been arrested so far.

4 – Wall Street Weakens

Equity markets across the Asia-Pacific region were down on Friday with Japan’s Nikkei hitting a three-month low, weighed by overnight weakness on Wall Street following days of solid gains. Concerns over President Donald Trump’s ability to push through the pro-growth measures that financial investors had expected at the start of this year were at the heart of a second daily 1% loss for Wall Street on Thursday.

5 – Oil Prices Give Back Gains

In commodities, oil prices pulled back following recent gains. Global benchmark Brent fell 0.1 % to $50.99 a barrel, after jumping 1.5 % on Thursday on a drop in U.S. inventories. It is on track for a 2.15 % decline for the week.

Was this article helpful?

0 0 0