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.

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