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1.11 - currencies are growing due to weak USD



The main topic for all the news around the world today is impeachment of Donald Trump. And we are not going to omit the topic as well. After all, history is being made right in front of our eyes and our wallets are the ones that are going to suffer because of it. Dollar fell against the basket of major currencies today, but we are still waiting for European trading session to begin in order to see what the further reaction and fate of the greenback is going to be.

In other news, America is very close to striking a trade deal with Canada and Mexico, which is good news for Canadian and Mexican economy, with USA being the more important and biggest export source for both of the countries. Of course the deal has to go through Trump and here is where we are probably going to come across troubles.

Currency market lives. Weak USD lets other currencies breathe and grow. Even Canadian dollar – a currency that can never compete with the greenback, is growing today which is a sign of traders’ faith in dollar slowly melting away. Boy, it is going to take a lot in order to restore it in our heads.

Of course October is behind us and it is safe to say that in recent history it has been one of the most filled with events and volatility month. Brexit and Trump scandal surely did rock our world. We are going to need a lot of time to recover from the falls and gains caused by trade talks and we still can’t believe that Canadian political scene is finally stable. We trader thorough a lot. Let’s hope that November is much calmer.

Here are the shifts for the first day of the month:

Topix was flat.

Kospi grew 0.8 percent.

Shanghai Composite increased 0.95 percent.

Hang Seng from Hong Kong added 0.7 percent.

S&P 500 futures grew 0.3 percent.

Euro increased just a little bit - $1.1162.

Pound grew 0.3 percent - $1.2965.

Yen gained 0.6 percent – 107.98 per dollar.

Canadian dollar advanced 0.1 percent - $1.3147.

Apple recovered 2.3 percent - $248.76.

Facebook added 1.8 percent – $191.65.

Amazon lost 0.2 percent - $1776.66 per share.

Tesla barely changed - $314.92.

Google decreased 0.15 percent - $1258.8.

WTI recovered 0.3 percent - $54.34 per barrel.

Brent added 0.1 percent - $59.66 per barrel.

Gold dropped 0.15 percent - $1512.6 per ounce.

Silver increased 0.1 percent - $18.08 per ounce.

Platinum lost 0.1 percent – $931.8.