August 3, 2020
Top daily news
Equity markets are mixed currently after a mixed trading week ended last Friday. Investors are awaiting what lawmakers will agree on for another pandemic relief bill on Capitol Hill.
Forex news
| Currency Pair | Change |
| EUR USD | -0.11% |
| GBP USD | -0.03% |
| USD JPY | -0.01% |
The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.5% Friday as the Bureau of Economic Analysis said US consumer spending rose 5.6% in June, while core inflation, the Federal Reserve’s favorite gauge of consumer prices, rose 0.2%, in line with expectations when the final reading of University of Michigan’s consumer sentiment index in July slipped to 72.5 from an initial 72.9. Both GBP/USD and EUR/USD reversed their climbing Friday with both pairs lower currently. USD/JPY reversed its sliding while AUD/USD continued sliding on Friday with the dynamics intact for both pairs currently.
Stock Market news
| Indices | Change |
| Dow Jones Index | -0.11% |
| GB 100 Index | +0.11% |
| Nikkei Index | +0.79% |
| Hang Seng Index | +0.64% |
US equity markets are mixed currently ahead of the ISM Manufacturing PMI report today at 18:00 CET. The American International Group, Loews and Marathon Petroleum Corporation are among the SP500 large capital companies slated to report earnings today. The three main US stock indexes recorded weekly returns ranging from -0.2% to +3.7% last week. European stock indexes are mixed currently ahead of euro-zone’s Final Manufacturing PMI report at 12:00 CET. Asian indexes are mixed today after Japan’s data showed the world’s third largest economy shrank at an annual rate of 2.2% in January-March.
Commodity Market news
| Commodities | Change |
| WTI Crude | -0.63% |
Brent is retracing lower today as traders watch for tapering of output cuts by the OPEC and its starting in August. Oil prices ended higher last session. The US oil benchmark West Texas Intermediate (WTI) futures are lower currently after September WTI rose 0.9% Friday. October Brent crude added 0.6% to $43.52 a barrel on Friday.
Gold Market News
| Metals | Change |
| Gold | -0.32% |
Gold prices are extending gains today. August gold closed at fresh all time high Friday. December gold, which is now the most-active contract, rose 1% to $1,985.90.
Market Analysis provided by IFCMarkets.com
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