Categories: Market Overview

FxPro Daily Insight for August 5

Market overview

FX: Markets fear that currencies become a weapon in trading disputes. The flight from “yielding” to “safe” makes JPY, CHF – the best in performance this month. USDCNH jumped 2% to 7.11. GBPUSD rebounded again after a rebound.

Stocks: Markets fall sharply, losing about 2% on major indices at the start of Monday trading. This morning SPX fell by 1.3% below 2900, HengSeng dropped by 2%, losing more than 10% in 2 weeks.

Commodities: Gold rewrite 6-years highs, rising to $ 1,457. Brent so far avoided the sharp move, losing just 0.6% today to $ 60.80

Crypto: Bitcoin boosted growth above $11,500, supported by sell-off in Chinese markets.

Important upcoming events (GMT):

08:00 EU [ !!] Services PMI 08:30 UK [ !!] Services PMI 13:45 US [ !!] Services PMI 14:00 US [!!!] Non-manufacturing ISM

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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