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Ben Robson's coverage of the trading week's most important market events.
Financial markets are still cautiously following the North Korea's most powerful nuclear test at the end of last week amid news of its intention to launch another missile. US stock markets opened lower after closing yesterday to celebrate the Labor Day.
The markets are looking forward to a number of central bank meetings this week as well as some important economic data. The currency market today saw some price gaps as well as the decline of most of the global stocks with the opening of the week, after the North Korea's the most powerful nuclear test on Sunday undermined investors' risk appetite amid reports that Pyongyang was ready to launch another missile. While the US and Canadian markets closed due to the Labor Day.
We have a new trading week full of events and important economic data which may have a significant impact on the movements of the markets this week, and we will review the most important of this data:
After the markets calmed down with North Korea's tensions on financial markets yesterday after a missile launch over Japan and fall in the Pacific Ocean, the economic calendar today was full of a significant number of important economic data that had a significant impact on market movements.
The global stock markets have been affected this morning and most investors have turned to safe haven assets after North Korea provoked the Japanese side by launching a missile over northern Japan to fall into the Pacific and spark renewed political tensions with the United States.
The markets were relatively calm today with no economic events on the economic agenda, but the market witnessed some moves for some currencies as the euro saw a significant rise after Mario Draghi, the ECB governor, expressed no concern about the strength of the currency. So, EURUSD has reached the highest level Over the past two and a half years at 1.1975.
Starting a new trading week as usual every week, the markets wait for important economic data to assess the performance of the economies and then determine the trends of their currencies. This week, which does not include many important economic data, but the markets are monitoring some data we are exposed to them through the following:
The US dollar rose during the week, as the dollar index reaching a three-week high of 94.04, supported by positive retail sales that beat expectations and rose by 0.6% in July. Core retail sales rose by 0.5%.
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