The dollar is opening the trading week flat this morning following the US China phase-1 trade agreement that sent global equity markets higher to fresh all-time highs in the US. Most FX markets traded sideways over the weekend as investors expect very little action this week as markets approach the upcoming Holiday season. The heavy tech Nasdaq and the S&P 500 are trading at fresh all-time highs this morning while their EU counterparts trade at 2019 highs as well, lagging US markets and expecting the UK FTSE to play catch-up with the elections now in the back mirror for UK Prime Minister Johnson. Gold closed the trading week at $1,480 per ounce and Silver closed at $16.93, both up marginally on the day following the big selloff day Thursday. Oil closed the week in the green, up more than 1% to a $59.87 per barrel close, that’s on expectations of improved global trading and demand following the US China trade deal.
German Flash Manufacturing at 8:30 am, UK Flash Manufacturing at 9:30 am and US Manufacturing PMI at 1:45 pm are the important news on the agenda Monday. (all times GMT).
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Both US leading indexes, the Nasdaq and S&P 500, are at all-time highs this morning following the US China trade agreement.
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