$A surges to 4-week high against $US

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The strengthening Euro could have a negative impact on the Eurozone economy in connection with the deterioration of European export potential, sure, head of the Department of stock markets and financial engineering of Ranhigs Konstantin Korischenko. Indonesian shares however fell slightly, with Telekomunikasi Indonesia down 0.8% and Bank Rakyat Indonesia 0.7% lower. "Watch these numbers closely for Asian and Australian markets alike".

With little local data this week - July dwelling consents on Wednesday, the ANZ Business Outlook for August on Thursday and second-quarter terms of trade on Friday - all eyes will be on United States labour market figures at the end of the week.

Sterling hasn't had a strong reaction to "good" political news since June 2016, suggesting that the FX market is still expecting Brexit to be a shambles. The greenback's weakness this year, along with a string of robust domestic economic data, has helped propel the Canadian dollar up 7.5 percent so far this year.

Oil prices could find support from concerns about supply hits in the Gulf of Mexico after Hurricane Harvey struck the Texas coast.

By Monday, gasoline futures rose by as much as seven percent, hitting two-year highs as investors calculated that shutting down numerous refineries and other facilities could create shortages.

Hurricanes that land in Texas tend to have little impact on oil production, but more significant consequences for refining, according to Tom Kloza, chief oil analyst at the Oil Price Information Service.

His comments push back against key parts of the policy agenda of President Donald Trump, who has threatened to pull the USA out of multilateral trade agreements and called for a relaxation of Dodd-Frank financial rules. Brent crude, the worldwide standard, rose 30 cents to $52.71 per barrel.

USA oil CLc1 pulled back slightly to $47.82, after Friday's 0.9 percent gain.

Gold had almost surpassed its threshold of $1,300/oz. on Friday, when a sudden one-minute trade operation of large volumes of the metal sent prices cascading - just ahead of Fed Chair Janet Yellen's speech. The Dow Jones Industrial Average advanced 0.14 per cent, or 30.27 points, to 21,813.67. Also, late in the night, we have news of another round of missile testing by North Korea and this has increase the global risk and uncertainty which has further fueled the upmove in the gold prices. Not only this, but Mr Draghi also failed to make any comments about the strength of the euro, which was taken as a green light to push it higher, reaching its highest levels since January 2015 and just below 1.20 by Friday's close.

European Central Bank President Mario Draghi took aim Friday at economic protectionism and efforts to deregulate financial markets in a speech at the Jackson Hole economic symposium in Wyoming.

Instead of dropping hints of future interest rate hikes, Yellen instead struck a cautious tone, warning that the Fed had still not determined whether bank reforms had been effective.

On Monday, the market sentiment on the US Dollar Index is weak for several reasons.

EUR/USD extended gains, rising 0.45% to 1.1979 on Monday.

The dollar index - which tracks the USA currency against six major rivals - fell to as low as 92.372, its weakest since early May 2016, before recovering a little to trade 0.3 percent down at about 92.489.