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.
Traders await news from Australia
The Australian dollar has depreciated since the start of the year. The Reserve Bank of Australian seems satisfied with such situation as it keeps its interest rate at the record low of 1.5%.
In June, the central bank no longer said that it was “more likely that the next move in the cash rate would be up, rather than down”. This change had a negative impact on the Australian dollar.
The Reserve Bank of Australia will release its rate statement at 7:30 MT time on July 3. The possibility that the RBA will change its policy is very low. However, the central bank’s announcement can still be followed by big moves in AUD/USD, AUD/NZD, AUD/JPY, and other pairs containing the AUD. Traders will analyze the statement of the RBA and look for clues about its opinion about the current economic conditions as well as the future monetary policy. The dynamics of the AUD will depend on the tone of the RBA.
• Optimistic RBA – strong Australian dollar.
• Pessimistic RBA – weak Australian dollar.
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All eyes on AUD
The RBA will make a rate statement on August 4 at 7:30 MT time.
Main market movements on July 29
The overall market sentiment is mixed as investors await the Federal Reserve’s statement today at the evening.
Latest news
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.
GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
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