The dollar is opening the first full trading week of 2020 higher, trading up from 5-month lows versus majors as tensions increase in the Middle East and investors choose to move into “safe heavens” as global equity markets trade lower from all-time highs in the US and from 2019 highs in Japan and EU regions. Global futures are pointing to a lower open in the US and EU markets this morning while the NIKKEI lost nearly 2% overnight as Japanese investors took profits after a steep run up in the index and following geopolitical worries on the US Iran tensions. Gold and Silver prices jumped over the weekend as investors flee riskier assets to metals, Gold is trading at $1,575 per ounce and Silver at $18,38 per ounce this morning, both sharply higher over the weekend. Oil prices jumped another 2% over the weekend on the escalating US Iran tensions and are trading at $64.15 per barrel this morning, at 8-month highs.
US Services PMI at 2:45 pm is the important news on the agenda Monday. (all times GMT).
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Silver prices jump 2.5% over the weekend as investors move into “safe heavens” on global geopolitical tensions.
OIL trades at 8-month highs this morning on Middle East geopolitical tensions.
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