The market sentiment improved amid the slowdown in virus cases. Let's have a closer look at the AUD, S&P 500, gold and the GBP.
Daily news: Crude oil prices keep rising
- The main focus for EUR/USD today will be on the ECB president Mario Draghi speech at 16:00 MT time. Moreover, Ifo business climate index for Germany will be released today. Most experts expect it to drop to 103.2 in September due to the decrease of PMI. The pair was trading in the red zone on Friday. If bears continue to attack, the support is at 1.1644. However, any positive news from the events mentioned above can change the situation to growth. In that case, watch the resistance at 1.1830.
- The latest US and Chinese tariffs on each other came into effect today at 07:01 MT time. AUD/USD and NZD/USD opened with a gap down, but kept being bullish. The next resistance for the aussie is at 0.7346. Otherwise, watch the support at 0.7184.
- As for NZD/USD, the resistance to follow is at 0.6720. If bears strike back, the support is at 0.6576.
- Countries rejected the claim of the US president Trump to reduce oil prices during the OPEC meeting on September 23. The rise of the prices for crude oil can be explained by the limited output after the US sanctions to Iran. Right now Brent is trading near its psychological level of $80.
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The RBA will make a rate statement on August 4 at 7:30 MT time.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
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