1. At the end of last week, the dollar couldn’t strengthen further. US traders look out for the key US eco data later this week, including CPI and retail sales. Weak data won’t derail a Fed rate hike, but might still weigh on the USD. Sterling is again under pressure as Conservative PM’s are said to challenge PM May’s leadership.
2. US stock markets closed marginally lower on Friday in an uneventful trading session. Asian stock markets are mixed overnight with Japan underperforming and China outperforming.
3. Bitcoin dropped 15% in a rocky weekend trading session amid controversy over its future. The crypto-currency plunged 15 percent from nearly $6,500 to a low of $5,507, before intermittently shooting back up to near $6,400.
4. Sterling tumbled broadly as another week starts on political concerns. Prime Minister Theresa May’s position is getting shaky as more MPs are getting impatient with her. Brexit Secretary David Davis dismissed EU’s two-week deadline and warned that no number nor formula would be provided on the divorce bill. GBP fell to 1.3080
5. Oil prices held firm, propped up by concerns about the political instability in Saudi Arabia. Gold prices were little changed on Monday, but held near the previous session’s low, pressured by a firmer dollar and expectations of a series of interest rate hikes by the U.S. Federal Reserve this year and in 2018. Spot gold was nearly unchanged at $1,277 per ounce.
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