Forex Today: Sentiment leads the way
|What you need to know on Wednesday, August 4:
The greenback ended the day mixed, although major pairs held within familiar levels. A scarce macroeconomic calendar and caution ahead of first-tier events later in the week exacerbated rage trading.
Wall Street opened in the red but got to post modest gains, while government bond yields held around Monday’s closing levels. The market’s mood turned positive after a sour start to the day.
EUR/USD was unable to advance beyond 1.1900, despite a better market mood, ending the day at around 1.1860. The GBP/USD pair recovered some ground and settled at around 1.1910.
The USD/CAD pair edged higher, as oil prices remained depressed. On the other hand, AUD/USD hovers around 0.7400, after the RBA surprised with a not-so-dovish monetary policy stance. The Japanese yen appreciated against the greenback as bond yields remained subdued, briefly trading below the 109.00 figure.
Gold was incapable of attracting speculative interest, now consolidating around the 1,810 level.
Investors await US employment-related data and BOE’s Super Thursday.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and altcoins correct before another run-up
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.