FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
90%
HFM information and reviews
HFM
89%

Risk On Vibe?


11 August 2020

The narrow trade-weighted USDIndex edged out a one-week high at 93.71, making this the third consecutive trading day a higher high has been seen. A softer tone in the Euro has in part given buoyancy to the index while pushing EURUSD to a one-week low, at 1.1723. EURJPY concurrently rose about 40 pips to a peak at 124.75. USDJPY remained firm, but remained just shy of the one-week high seen yesterday at 106.21. AUDUSD ebbed back under 0.7150, leaving highs at 0.7185/86, though still remained net higher on the day, while AUDJPY pegged a four-day high. USDCAD ebbed to a four-day low at 1.3320, reflecting a modest degree of outperformance in the Canadian Dollar, which has been concomitant with oil prices edging out new highs. Front-month USOil futures printed a one-week high at $42.40.

Is the the Dollar etching out a recovery phase after recent out-performance and seven consecutive weeks of lows the wake of the July US jobs report, hopes of a new stimulus package and with new coronavirus cases now dropping sharply across the sun states?

UK jobs data provided very mixed and confusing reading. The claimant count jumped 94,400 in July, bringing the claimant count rate to a whopping 7.5%, from 7.2% in the previous month. The less timely ILO unemployment rate unexpectedly held steady at 3.9% in the three months to June, but at the same time employment dropped -220K during that period. This was the biggest rise in over a decade highlighting the impact of lockdown measures. Still, it is less than Bloomberg consensus expectations predicted and ties in with the general theme of “not as bad as feared” – with regard to the initial impact of virus measures. The question of course is what will happen when governments have scrapped support measures and the furlough scheme runs its course. Cable was capped at 1.3100 yesterday, before slipping to 1.3055 following the claimant data, and has since recovered over today’s pivot point (1.3060) to trade at 1.3075.

#source

Share:


Related

The Downfall of Euro in 2022: the Analysis of its Reasons, the Current Situation, and the Objective Forecast
The Downfall of Euro in 2022: the Analysis of its Reasons, the Current Situation, and the Objective Forecast

Before getting down to analyzing why Euro reminds of a mafia victim in cement shoes falling off a Chicago bridge, allow us to open it up with a meme joke that best describes this whole ordeal...

31 Oct 2022

XAU/USD juggles around $1,710 as investors await US NFP
XAU/USD juggles around $1,710 as investors await US NFP

Gold price (XAU/USD) is displaying topsy-turvy moves in a narrow range of $1,709.35-1,713.42 in the early European session. The precious metal is displaying a lackluster performance...

7 Oct 2022

Positive mood stalls on the “pivot” trade
Positive mood stalls on the “pivot” trade

USD slid against most of its major peers. The DXY closed a tick above its lows of 110.05. Resistance is at 110.76 while next support is 109.29. GBP gained for a sixth session in a row, a winning streak not seen since April 2021...

5 Oct 2022

OctaFX glances at current economic shifts - the good, the bad, and the strange
OctaFX glances at current economic shifts - the good, the bad, and the strange

Pandemics and health crises, political tensions, geopolitical tension flashpoints popping up, Western sanctions on significant European and Asian economies, and grave tensions between...

3 Oct 2022

The Euro rebounded from the low
The Euro rebounded from the low

After updating its multi-year lows again, the major currency pair rebounded. The current quote for the instrument is 0.9656. Last night, the local interest in risks improved a bit, helping the asset to successfully correct...

29 Sep 2022

Gold Shows Signs of Life, But Heads Towards Another Losing Month
Gold Shows Signs of Life, But Heads Towards Another Losing Month

The precious metal is largely considered as a hedge to inflation, but it has not confirmed this status during the current year. It did kick it off with a rally, but as the Fed begun hiking rates back...

28 Sep 2022


Editors' Picks

IronFX information and reviews
IronFX
88%
FXCM information and reviews
FXCM
87%
NordFX information and reviews
NordFX
85%
MultiBank Group information and reviews
MultiBank Group
84%
Vantage information and reviews
Vantage
83%
FP Markets information and reviews
FP Markets
81%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.