EUR/JPY Exchange rate

The EUR/USD pair retreated after flirting with the 1.1800 figure, as the market mood somehow turned sour. Focus on the next US fiscal relief package, coronavirus, and economic progress.

GBP/USD is easing towards weekly lows as dollar bulls are giving it another try. Brexit concerns and UK lockdowns in the eye of the storm.

XAU/USD sidelined heading into the European session. Downside limited by dollar weakness, coronavirus concerns. Focus remains on the USD dynamics and the United States/China updates.

The generally received wisdom is that summer is a quiet month for trading. Traders are on holiday and markets quieten down. That’s the expectation among many. However, the reality is that August can be one of the most volatile trading months of the year.

WTI struggles to extend recovery moves from $40.74 beyond $41.00. Virus woes join OPEC output increase to combat drop in Russian oil production. US Factory Orders, API inventories will be the key.