What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Evergreen buck loses, as bond gains and euro head north
On Friday, the evergreen buck moved down, as bond gains kept holding close to a one week maximum, while the common currency managed to tack on.
Estimating the purchasing potential of the America dollar buck versus a number of its primary opponents the USD index lost 0.13% ending up with 95.60.
Treasury gains managed to rally, with the United States 10-Year note accounting for about 3.192%, which is not far from a one-week maximum of 3.211% observed on Thursday. As for bond gains, they managed to head north after on Wednesday hawkish Fed minutes revealed the major financial institution’s conviction in gradually lifting interest rates in December and also later.
Eventually, the evergreen buck climbed up versus the Japanese yen. USD/JPY surged by 0.29% being worth 112.52.
Besides this, the UK currency and the common currency revived from monthly minimums. The currency pair GBP/USD headed north by 0.17% ending up with 1.3040 notwithstanding a hard Brexit as a most probable scenario. The common currency moderately surged. The currency pair EUR/USD soared by 0.22% trading at 1.1479 right after Pierre Moscovici, European Economic Affairs Commissioner played down the European bloc’s dispute with the Italian budget.
The statesman told that the European Union had just sent a letter to the Italian government and it would be a hard and time-consuming process. By the way, Italy is anticipated to respond to the EU request by Monday.
Apart from that, the Australian dollar surged notwithstanding China reporting lower than anticipated third-quarter GDP. The currency pair AUD/USD gained 0.51% being worth 0.7134. At the same time the currency pair NZD/USD leapt by 0.76% reaching 0.6591.
The Canadian dollar slumped after core inflation headed north less than anticipated and retail sales dived in August. The currency pair USD/CAD jumped by 0.16% demonstrating 1.3104.
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…