The new trading week is filled with action.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
The new trading week is filled with action.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Dollar lowest since November
1. Dollar lowest since November
The dollar fell to a near 5-month low on Monday after President Donald Trump's failure to push through a healthcare reform bill prompted investors to question the if he can deliver on growth policies that have been priced in since his election.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down almost 0.7% at 98.91 in early New York morning trade. It fell to an overnight low of 98.97, a level not seen since November 11.
The index had risen to a 14-year high near 104.00 early in January when expectations for significant stimulus under the Trump presidency were at their peak.
USD/JPY fell more than 1% to 110.12 at one point, its weakest since November 18. It last traded at 110.35, down around 0.9% for the day.
Meanwhile, the Euro rose to 1.0874 against the USD, its highest since December 8, and was last at around 1.0860.
2. Brexit officially begins
2. Brexit officially begins
The United Kingdom's government is officially kickstarting negotiations to leave the European Union nine months after the Brexit vote.
Prime Minister Theresa May said that she will trigger Article 50 on Wednesday, which is a two-year legislative plan for the U.K. to leave the bloc of countries.
"The government is clear in its aims: a deal that works for every nation and region of the UK and indeed for all of Europe - a new, positive partnership between the UK and our friends and allies in the European Union," the government said in a previously released statement.
Investors will be watching the global markets closely to see how they react.
3. Global stocks slide, S8 is coming
3. Global stocks slide, S8 is coming
U.S. stock market futures pointed to a sharply lower open on Monday morning, with the Dow futures falling by 150 points to a six-week low after President Donald Trump's failure to pass healthcare reform raised doubts over his ability to push through his pro-growth economic agenda.
In Europe, stocks were under pressure in mid-morning trade, with Germany's DAX down 1%, while London's FTSE100 dipped 0.9%.
Earlier, in Asia, markets ended in negative territory, with the Shanghai Composite in China closing down around 0.1%, while Japan's Nikkei sank 1.5% to its lowest levels since early February.
The Samsung Galaxy S8 will be released on Wednesday morning. The S8 is the first phone released since the huge failure of Samsung's Galaxy Note 7. Samsung hopes features like the Bixby personal assistant, faster hardware and shiny new colors attract clients and help repair its image.
4. Gold rises, Oil tumbles
4. Gold rises, Oil tumbles
Gold prices rallied to a 4-week high on Monday, as growing doubts about U.S. President Donald Trump's pro-growth economic agenda prompted investors to dump risky assets and rush to safe havens.
Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It was last at $1,257.75, up $9.20, or around 0.8%.
Oil prices started the week lower on Monday, holding near the weakest level since the end of November as uncertainty over whether an OPEC-led production cut will be extended beyond June fed concerns about a global supply glut.
U.S. crude was down 39 cents, or about 0.8%, to $47.58 a barrel, while Brent fell 33 cents to $50.59.
A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months once again in April, it said in a statement on Sunday.
The statement failed to impress investors, who were hoping for more concrete news on whether output curbs would be extended beyond June.