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.
Optimism dips at British services companies
Optimism across the UK services sector went down for the last three months to August, and British companies perceived the pinch from ascending costs notwithstanding fresh business mostly held up, as an industry poll revealed on Tuesday.
The Confederation of British Industry's quarterly informed that the services sector, producing the vast bulk of economic output in Great Britain, demonstrated that confidence dipped in both consumer and business sectors.
The previous week official data showed Britain's economy faced weakness on all fronts for the three months to June. Shoppers were definitely affected by the pound's dip, exports unable to fill the gap as well as business investment suppressed by Brexit uncertainty.
While the overall volume of activity at business as well as professional services companies strengthened to its highest value since May last year for the last three months to August, it slumped in consumer services companies.
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…