Market Overview

FxPro Daily Insight for August 7

Market overview

FX: NZD collapsed by more than 2% after an unexpectedly strong RBNZ’s rate cut and dragged AUD down. The dollar index is recovering as fears faded fears around the escalation of trade wars, and “yielding” currencies have been cautiously grown this morning.

Stocks: HengSeng is adding 2.4% to the lows at the beginning of Tuesday, but is still 9% below the levels before the collapse. Futures on the S&P500 are virtually unchanged to Tuesday’s closing levels, as markets are waiting for new signals from politicians.

Commodities: Contrary to the calm of markets, commodities move according to the “crisis scenario”. Brent is trading at $58.60 – at lows since January, losing 2.7% over 24h on fears of a slowdown in the global economy. Gold rose to $ 1,490 and just one step from $1,500.

Crypto: Bitcoin failed to cling to levels above $ 12,000. Top altcoins lose 2% -7%.

Important upcoming events (GMT):

13:30 [!!] USD FOMC Member Charles Evans Speaks 14:30 [ !] Brent Crude Oil Inventories 02:00 [!!] CNH Trade balance

Detailed economic calendar

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