The dollar is opening the trading week flat, looking ahead to the US China trade agreement phase one set to be signed this week and the US Iran conflict that’s looking under control this morning. The dollar index is opening the week at 97.4, up nearly 0.5% last week. The NFP numbers created very little impact on FX markets as investor focus on geopolitical concerns and look ahead to the beginning of the earnings season in US and EU equity markets. Both US and EU equity markets closed lower Friday, on profit taking and wearing about the weekend US Iran standoff. Gold and Silver traded higher Friday, closing at $1,562 and $17.95 respectively, both up on the day yet marginally negative for the week. Oil closed the trading week sharply lower, at $59.1 per barrel, that’s after 5 weeks on gains and looking weak this morning as the geopolitical tensions subsides in the Middle East.
UK GDP and Manufacturing production at 9:30 am and CAD Business Outlook at 3:30 pm are the important news on the agenda Monday, (all times GMT).
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Oil closed the week sharply lower as geopolitical Middle East tensions subside.
NASDAQ futures look higher this morning after a strong performance last week despite a minor pullback Friday.
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