Categories: Market Overview

FxPro Daily Insight for August 2

Market overview

FX: USD retreated to the basket of major currencies, but remains close to a 2-year high. JPY strengthened by 2% over the last 24h. CNY once again is dangerously close to 7.00 after the announcement of the tariffs.

Stocks: Indices fell, as an escalation of trade conflicts has been added to the tough rhetoric of the Fed.

Commodities: Brent sank to $61.0, down by 4.2% on the news on tariffs. Gold loses 0.8% in the morning after a jump from $1400 to $1450, or 3.5% at the end of the day on Thursday.

Crypto: Bitcoin again attracts buyers, rising to $10,500. The main altcoins in the green zone.

Important upcoming events (GMT):

08:30 UK [ !!] Construction PMI 09:00 EU [ !!] Retail Sales 12:30 US [!!!] Non-farm employment 17:00 Crude Oil [ !!] Baker Hughes U.S. Rig Count

Detailed economic calendar

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team

Recent Posts

FTSE 100 Wave Analysis – 17 March 2025

FTSE 100: ⬆️ Buy - FTSE 100 reversed from key support level 8425.00 - Likely…

60 minutes ago

Alibaba Wave Analysis – 17 March 2025

Alibaba: ⬆️ Buy - Alibaba broke the key resistance level 145.00 - Likely to rise…

1 hour ago

EURNZD Wave Analysis – 17 March 2025

EURNZD: ⬇️ Sell - EURNZD reversed from long-term resistance level 1.9160 - Likely to fall…

5 hours ago

AUDUSD Wave Analysis – 17 March 2025

AUDUSD: ⬆️ Buy - AUDUSD broke resistance level 0.6350 - Likely to rise to resistance…

5 hours ago

Weak US retail sales might boost stocks

Weak US retail sales are adding to concerns of a potential recession, putting pressure on…

7 hours ago

Dow Jones: Rebound or Rally? The Fed Holds the Key

The Dow Jones rebound depends on the Federal Reserve's monetary policy and incoming data. It…

8 hours ago

This website uses cookies