On Monday the U.S. dollar fell below its 16-month low against other major currencies. Tropical storm Harvey that hit the south-east of the United States hard as well as the disappointing speech by FED chair Yellen on Friday contributed to the pressure on the greenback.
U.S. equity indices showed a mixed picture on Monday with energy and financial stocks down and with significant gains from biotech stocks.
Gold rallied to its highest level since December last year and passed the $1,300 barrier with ease early in the North American trading session. On the other hand oil had significant losses as traders expect that the lack of refinery capacity in the storm-affected area of the U.S. will drive up oil inventories, which the EIA will publish on Wednesday.
Bitcoin experienced some losses on Monday which it could mostly recover. The major cryptocurrency is still can’t breach its resistance level of around $4,500. Litecoin hit a record high on Monday, while Ripple was up after falling since last Wednesday.
On Tuesday Germany will publish consumer sentiment data, while France publishes statistics about its GDP and manufactured goods consumption which will give the first insight in the economic impact of Emmanuel Macron's government. From the U.S. we expect the publication of the S&P/Case-Shiller House Price Index and consumer confidence statistics.
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