Market Overview

FxPro Daily Insight for February 4

Market overview In global markets, the demand for risky assets has stabilized. Indexes on US stocks restored their positions after drop on Friday when they lost more than 2%. On the FX, this week, the higher-yielding currencies (ZAR, RUB) grew most against the dollar. Such safe-heavens as Gold, JPY, CHF are leading the decline. Brent crude oil has stabilized at around $55 after touching grades below $54 earlier today. Among FxPro traders interest in CHF sharply increased, the share of open positions in EURCHF and USDCHF pairs is above 14.5%, second highest to EURUSD (23%) and noticeably above markedly ahead of gold (10.8%) and GBPUSD (8%). In stock markets, the focus turns to the dynamics of Tesla shares jumped 16% on Tuesday open after a jump of 20% a day earlier. Classical short squeeze reaction. Alphabet shares (Google’s parent) lose 4% after a disappointing quarterly report.

Important events (GMT): 15:00 US !! Factory Orders 22:45 NZ !!! Unemployment Change 01:45 Cn !! Markit Services PMI

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