Top 5 Things to Know Before You Start Trading
#1 Risk sentiment on Asian equity markets is clearly positive this morning.
The damage of Hurricane Irma is very substantial, but markets apparently assume that the impact on the US economy is manageable. The tensions between the US and North Korea remain in the headlines as the US called for a new UN vote on tougher sanctions against North Korea.
#2 As a result, stock markets opened higher in Asia and in Europe this morning and the USD selloff eased.
EUR/USD last week set a minor new correction top at 1.2092. A return below 1.1823 would be a technical sign that the EUR/USD rally has run its course short-term. USD/JPY tries to regain the previous range bottom at 118.13, but for now, the downtrend remains also intact.
#3 In commodity markets, gold softened 0.7 percent to $1,334 an ounce
Gold is lower and below its one-year peak of $1,357.54. Oil prices regained a little ground after Saudi Arabia’s oil minister discussed with his Venezuelan and Kazakh counterparts the possible extension of a pact to curb global oil supplies beyond March 2018.
#4 Hurricane Irma smashed into Florida,
The hurricane has left more than three million properties without power. On Sunday afternoon Irma was downgraded from a Category 4 storm to Category 2. This also helped the Dollar recover.
#5 Today’s calendar is empty.
