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19.02 - euro is hoverig around 3-year-low point

25.07.2019

 

Even though we should be watching Asia, as usual, today our attention turns to euro and European market in general. And unfortunately not because of terrific successes of European currency in the international markets, but because euro is sinking and seems to be suffocating. European stocks are climbing and seem to be doing just fine all the while European currency is lingering around 3-year-low point. What is the reason for such a steep decline?

 

Well, the reason here is very simple. Sadly, we have seen it all before – euro is declining because of the weak German data. Right now the numbers displayed by the largest European economy show us that it can very strongly feel the influence of external factors. It is much more serious than we previously anticipated. Surely there is no way that euro was not going to react to such news.

 

In the meantime coronavirus is also having its fun. For example, Apple stated that it is not only going to see revenue numbers as good as was anticipated but also is not going to be able to meet its production quotas due to multiple factories being closed in China. Of course, the reaction of traders and investors could have been more severe than the one we see at the moment, but something tells me that we are going to see the extension of the fall for the next several days.

 

Precious metals are extending the growth – a movement that we have already seen yesterday. Well, that only confirms our need in safe havens at the moment, which is very understandable in present situation. Oil reversed the direction and is growing again.

 

Here are the numbers for the day:

 

Topix added 0.5 percent.

Kospi decreased 0.2 percent.

Shanghai Composite decreased 0.1 percent.

Hang Seng from Hong Kong added 0.4 percent

S&P 500 futures grew 0.3 percent.

Euro declined 0.4 percent - $1.0792.

Pound wasn’t changed that much - $1.2995.

Yen declined 0.3 percent – 110.05 per dollar.

Canadian dollar was flat - $1.3247.

Tesla added 7.3 percent - $858.4.

Apple decreased 1.8 much - $319.

Facebook advanced 1.7 percent – $217.8.

Amazon added 1 percent – $255.67 per share.

Google recovered 0.05 percent - $1519.4.

WTI grew 0.8 percent - $52.5 per barrel.

Brent recovered 0.8 percent - $58.17 per barrel.

Gold recovered 0.15 percent - $1603.95 per ounce.

Silver added 0.8 percent - $18.29 per ounce.

Platinum grew 2 percent – $1007.65.

Palladium surged 7.9 percent - $2836.5 per ounce.