FxPro Daily Insight for February 5
February 05, 2020 @ 14:07 +03:00
Financial markets continue their rebound, attracting investor interest after the recent downturn. On FX, the leaders for growth to USD remain RUB, ZAR, AUD. These are the currencies of export-oriented countries, benefiting from the decline of fears around China’s demand for commodities. Safe-heavens develop their drop, leading the decline. EURUSD is losing the 3rd day in a row, returned to 1.1000 area. GBPUSD continues its rebound after receiving support below 1.3000 earlier in the week. Gold fell to $1550 amid markets improving sentiment. Brent added 2.8% this morning after touching $53.80 at Tuesday’s close. But traders should note, that since January 20, sellers’ pressure has often intensified during the US session.
Important events (GMT): 09:30 UK !! Services / Composite PMI 12:15 EA !! ECB President Christine Lagarde Speaks 13:15 US !!! ADP Non-Farm Employment Change 15:00 US !!! ISM Non-Manufacturing PMI