|Day's Range||1.069 - 1.07|
|52 Week Range||1.0501 - 1.1263|
The Euro rose to two-week highs against the Dollar. Surpassing 1.0930, the common currency is close to restoring its losses from the beginning of the month to the Dollar.
The U.S. dollar has given back some of its overnight gains in early European trade Friday, but remains in favor as risk aversion still dominates, amid rising Sino-U.S. tensions. At 2:45 AM ET (0645 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.365, down 0.1%, having earlier Friday reached a three-week high. U.S. President Donald Trump ratcheted up these tensions in an interview with Fox Business Network on Thursday, stating he was disappointed with China's failure to contain the coronavirus, that this had cast a pall over the trade deal between the two countries.
The world markets started trading session on Tuesday with a dive into the red zone. However, they managed to return to growth in the wake of news about the spread of coronavirus.
Keep calm less than 24 hours to go in a week wholly dominated by developments in the middle east. With that in mind, we’re starting with a bang again this morning as a powerful explosion was heard at the Syria -Iraq border.
Investing.com - Fears over the prospect of a conflict in the Middle East are roiling markets, with Brent crude jumping to $70 and safe haven gold hitting its highest level in seven years. Global stocks are in the red and in the Euro Zone data has showed that business activity remained close to stagnation at the end of last year. Here's what you need to know in financial markets on Monday, Jan. 6.
Investing.com -- The Swiss National Bank left its key interest rate unchanged Thursday but took steps to reduce the penalty that banks pay on excess reserves, a week after the European Central Bank took similar action to protect euro zone banks against the harmful side-effects of negative rates. The SNB said the volume of excess reserves that will be remunerated at the penalty rate will be reviewed on a monthly basis.
Investing.com - Oil prices will react when markets open after an attack on a key Saudi production facility, amid uncertainty over how much global supply will be disrupted. Investors are also bracing for another interest rate cut from the Federal Reserve this week, as well as a flurry of rate decisions from other world central banks.
It promises to be an interesting month, especially as we build to what is a ‘live’ FOMC meeting in July, with implied at 62% chance of a cut. If Trump doesn’t converge with the Mexicans and Chinese then the Fed start chopping and that has huge implications – gold bulls will be feeling a tad excited right here.