Risk Off Mood Gains Momentum

Risk Off Mood Gains Momentum

2020-08-14 • Updated

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Midday Market View

European stock markets traded lower Friday, with travel stocks weighing after Britain added more countries to its quarantine list while Chinese data suggested a slow economic recovery.

Midday Key Point

  • Austria reports 282 new coronavirus cases, highest daily count since April.
  • Eurozone Q2 GDP second reading comes at -12.1% vs -12.1% q/q prelim.
  • Major currencies little changed even as stocks stay pressured on the session.

Similar

Aussie Selloff Ahead?
Aussie Selloff Ahead?

AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.

Latest news

AUD: Markets Prepare for RBA Rates Statement.
AUD: Markets Prepare for RBA Rates Statement.

The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to 3%.

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