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It’s the mother of all markets, making all other types of trading possible. Every three years the Bank of International Settlements releases its survey of foreign exchange and OTC derivatives markets.
A world of Trading assets

2021/08/03 Market Chat

Authored by ZanderVanDerMerwe
03.08.2021
0
2 min

The markets lacked movement yesterday as American and European Indices were ranging for the majority of the day. With a week packed full of high impact news the markets might very well be building up to a breakout. The Services and Manufacturing PMI will be crucial this month in the buildup to NFP, as we wait to see if there is some actual growth to the Economy to back up the rising inflation rates.

Gold remains stable around the $1810 level focus will very much be on the NFP figures due out on Friday, Silver is still trading above $25 following the strong push we got post FOMC last week. Brent sold off aggressively yesterday as it made a daily low of $72.20 down from its opening price of $74.93.

Bitcoin and Ethereum declined during the Asian session as Bitcoin, trades below $39 000 while Ethereum still holds above $2400.

As the European markets opened up the New Zealand Dollar is currently the strongest currency while the Canadian dollar is currently the weakest currency. Following the RBA Rate Statements the Australian dollar strengthened as they plan to continue with its tapering of Bond purchases.

Tuesday (SAST)
6:30am - RBA Rate Statement (AUD)

Authored by ZanderVanDerMerwe
03.08.2021
0
2 min

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