This is what you need to know to trade today Monday December 4:
He Gold price reached a new all-time high close to $2,150 at the weekly opening, as markets reacted to escalating geopolitical tensions in the Middle East. October factory orders will be the only data on Monday’s US economic agenda. Investors will continue to monitor headlines surrounding the conflict between Israel and Hamas and comments from central bankers.
Yemen’s Houthi rebels attacked three commercial ships in the Red Sea on Sunday and a US warship responded by shooting down three drones. In a post after the event, the US military’s Central Command stated that they have “every reason to believe that these attacks, although launched by the Houthis in Yemen, are fully enabled by Iran.” Meanwhile, Yemen’s Houthi movement acknowledged that they had attacked two Israeli ships in this attack, saying they were responding to calls from Islamic nations to stand with the Palestinian people.
Reflecting the risk aversion that reigns in the markets, US stock index futures are trading in negative territory in the early stages of the European session. The Dollar Index (USD), which posted small losses the previous week, found support slightly above 103.00.
Current price of the US dollar
The following table shows the percentage variation of the United States Dollar (USD) against the main currencies quoted today. The US Dollar was the strongest currency against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.16% | 0.29% | 0.25% | 0.45% | 0.23% | 0.52% | 0.34% | |
| EUR | -0.17% | 0.13% | 0.11% | 0.33% | 0.05% | 0.37% | 0.20% | |
| GBP | -0.31% | -0.15% | -0.04% | 0.16% | -0.06% | 0.23% | 0.05% | |
| CAD | -0.28% | -0.12% | 0.02% | 0.18% | -0.07% | 0.26% | 0.07% | |
| AUD | -0.45% | -0.33% | -0.19% | -0.22% | -0.28% | 0.04% | -0.13% | |
| JPY | -0.24% | -0.05% | 0.24% | 0.07% | 0.28% | 0.33% | 0.13% | |
| NZD | -0.52% | -0.38% | -0.23% | -0.27% | -0.07% | -0.30% | -0.18% | |
| CHF | -0.38% | -0.20% | -0.07% | -0.11% | 0.09% | -0.13% | 0.16% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
After setting a new all-time high, the Gold fell back in the last few hours. At the time of writing, XAU/USD is down 0.18% on the day, to $2,067.
After falling to a new two-week low of 1.0828 on Friday, the EUR/USD managed to recover towards 1.0900 before the weekend. Early on Monday, the pair fluctuates in a narrow channel above 1.0850. European Central Bank (ECB) President Christine Lagarde and other ECB policymakers are scheduled to speak throughout the day.
He GBP/USD closed the third consecutive week in positive territory before entering a consolidation phase below 1.2700 in the first part of Monday.
He USD/JPY fell to multi-month lows below 146.30 in Asian trading hours on Monday, but rebounded above 146.50 early in the European session. Japan’s Consumer Price Index (CPI) data will be released on Tuesday.
He USD/CAD fell below 1.3500 for the first time in two months on Friday, after Statistics Canada reported that the net change in employment was +24,900 in November, above market expectations of 15,000. Falling crude oil prices hampered the strength of the Canadian Dollar and USD/CAD advanced above 1.3500 at the start of the week.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
