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2021/08/06 Market Chat

Authored by ZanderVanDerMerwe
06.08.2021
Market Analysis
0
2 min

The big driver yesterday was the BOE Monetary Policy Report unfortunately the statements made was very dovish with no real changes made concerning going to negative interest rates or doing tapering of their asset purchases.

It was a good day on the market for the Indices as European and American markets all closed higher, Nasdaq made a new all-time high as it made a daily high of $15 180 while S&P and Dow are near their all-time high levels. Similarly, the Dax is very close to its all-time highs while the FTSE nears its high for the year.

The precious metals had a bad day yesterday as Gold and Silver closed down lower as today’s impending job figures are due to be released out of the US. Brent Crude recovered some of its losses as it made a daily high of $71.34, up from its low of $69.57.

The Crypto market closed the day out positively as Bitcoin is approaching $41 000, Ethereum is back $2800 starting the month off on a positive note.

The Market is very neutral this morning as we wait for the European market to open up. MPC Member Broadbent is set to speak about the monetary policy report hosted by the Bank of England, where he might elaborate a bit further following the Monetary Policy report that was released yesterday. Canada and America are set to release their unemployment figures this afternoon this is where most of the focus should be for the day.

Friday (SAST)
1:00am - RBA Gov Lowe Speaks (AUD)
3:30am - RBA Monetary Policy Statement (AUD)
1:15pm - MPC Member Broadbent Speaks (GBP)
2:30pm - Employment Change (CAD)
- Unemployment Rate (CAD)
2:30pm - Average Hourly Earnings m/m (USD)
- Non-Farm Employment Change (USD)
- Unemployment Rate (USD)

Authored by ZanderVanDerMerwe
06.08.2021
Market Analysis
0
2 min

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