FxPro Daily Insight for February 5
February 05, 2020 @ 14:07 UTC
Financial markets continue their rebound, attracting investor interest after the recent downturn. On FX, the leaders for growth to USD remain RUB, ZAR, AUD. These are the currencies of export-oriented countries, benefiting from the decline of fears around China’s demand for commodities. Safe-heavens develop their drop, leading the decline. EURUSD is losing the 3rd day in a row, returned to 1.1000 area. GBPUSD continues its rebound after receiving support below 1.3000 earlier in the week. Gold fell to $1550 amid markets improving sentiment. Brent added 2.8% this morning after touching $53.80 at Tuesday’s close. But traders should note, that since January 20, sellers’ pressure has often intensified during the US session.
Important events (GMT):
09:30 UK !! Services / Composite PMI
12:15 EA !! ECB President Christine Lagarde Speaks
13:15 US !!! ADP Non-Farm Employment Change
15:00 US !!! ISM Non-Manufacturing PMI