GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
IFO index: German mind-blowing recovery continues
In July, the Ifo index broke another record maximum, demonstrating that the strong revival of German economy will move on.
The Ifo index, Germany’s most prominent leading indicator, added for the sixth month in a row, hitting another all-time maximum in July. It’s currently showing 116.0, soaring from June’s outcome of 115.1. Both the hopes and current assessment component demonstrated a drastic improvement.
The given acceleration in the German economy is not only the outcome of sturdy private as well as public consumption, but it’s also provoked by a sudden industrial recovery and stronger investment. Nearly unnoticed, the industry has shifted from being sluggish to surprisingly buoyant.
It feels like investment might pick up over the course of 2017. In fact, the combination of firm orders and low inventories appears to be as positive as in mid-2006 and also late-2010. Meanwhile, capacity utilization has leapt to the highest value since late 2008.
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How to trade on August 4?
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.
All eyes on AUD
The RBA will make a rate statement on August 4 at 7:30 MT time.
Latest news
What drives the market on August 10?
The market has started the week with a mixed sentiment…
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
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