Weekly Market Report – 15.10.2018
CurrenciesEUR/USD – The pair is trading above $1.10 after news came out overnight that Trump may have revealed some intelligence secrets to the Russian foreign minister and ambassador. The pair rose almost 0.5% to 1.1020 in trading this morning after the European open.
USD/JPY – The currency pair is down 0.4% to 113.30 this morning as a weaker dollar is now extending across the markets. Last week the USDJPY set an eight-week high but the is set to reverse some of that today and this week after the news overnight about President Trump.
IndicesAsia – Asian Markets rose during Tuesday’s session on the back of a rise in Wall Street and after the publishing of plans of China’s new Silk Road Project. The HSI rose to the highest level since 2015 while the MSCI was flat.
Europe – European futures are also off to a flat start this morning with most pairs trading within a 0.1% range ahead of news releases later today. The Dax in Germany is up slightly to 12,795, while the Cac in France is flat at 5345.
USA – US futures are trading down in the early morning session as investors are expected to wait and see regarding the news that President Trump revealed intelligence secrets to the Russians. The S&P500 was the biggest loser of the morning down 0.2% to 2396.
CommoditiesCrude Oil – Oil futures rose over 2% yesterday as news from that Russia and Saudi Arabia, the world’s largest Oil producers, have decided to extend cuts to production for a further nine months. This has given a boost to the Oil price with Brent Crude up as much as 9% in the past week.
Gold – Gold is on the rise in early morning trading as investors are looking for safer assets are heading the rest of the week. After the news from the US overnight and the looming uncertainty over Syria and North Korea, money has been flooding into the precious metal. This morning Gold was trading at 1234.50.