Here is what you need to know on Tuesday, August 11:
The greenback appreciated against most major rivals, with EUR, AUD and GOLD its weakest rivals. The Pound was resilient, posting a modest intraday advance against its American rival.
Dollar’s strength could be attributed to weekend news indicating that US President Trump signed four executive orders on fiscal aid. Speculative interest believes it would force Congress to rush into a deal.
In the UK, PM Boris Johnson said that the government wouldn’t hesitate to reimpose lockdown measures if needed. It’s spokesman later announced that they will set out at the end of the week whether to go ahead with reopenings, adding that they pretend to act timely “on quarantine if data shows we need to.” In the trade front, there were no news related to the EU, although news headlines indicate that a future trade deal with Japan cooled.
Equities traded mixed worldwide, without a clear directional momentum, indicating a cautious stance from investors. Treasury yields, however, edged higher.
Gold prices kept retreating from record highs, with spot gold ending the day around $2,025 a troy ounce. Crude oil prices remain stable, with WTI settling at $42.00 a barrel.
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.