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.
London is still the world's top finance center notwithstanding Brexit
London is still the world’s leading financial center. It extended its lead over New York notwithstanding Britain’s looming departure from the EU, as a poll disclosed on Monday.
The UK’s departure from the EU bloc has given grounds to predict London might lose its pre-eminent status as a leading financial center. Nevertheless, there’re few signs of it taking place yet.
London has been successfully holding the first position, followed by New York, Hong Kong as well as Singapore in the Z/Yen global financial centers index, ranking up to 92 financial centers on such factors as infrastructure as well as access to high quality staff. As for New York, it found itself just 24 points behind London, the greatest gap between the two since the poll started in 2007.
Evidently, New York's ranking edged down 24 points from 2016, which is the largest dip among the top contenders, a sag the survey's authors told turned to be presumably due to concerns over US trade.
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.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…