Daily Recap: Monday, August 17, 2020

In the first day of the week, the dollar maintained its losses, while gold continued its rally and made its biggest daily gains since April. Meanwhile, oil finished the session higher after fluctuating amid uncertainty regarding demand outlook, while the bitcoin rose to its highest level since July 2019.

Forex:

• DXY Keeps the Downward Trend
• PBOC Sets Yuan Reference Rate at 6.9362

Cryptocurrencies:

• Bitcoin at Highest Level in 11 Months

Commodities:

• Oil Recovers from Earlier Losses and Finishes Higher
• Gold Re-Approaches $2,000 Level
• OPEC+ Meeting to Review Easing Output Curbs

Stocks:

• NYSE Mixed at Monday’s Close
• European Stocks Finish Higher

Economic Data:

• U.S. Homebuilder Confidence Matches All-Time High
• NY Empire State Manufacturing Index at 3.7 in August
• Japan’s Economy is Contracting at Record Pace
• German Economy on Track for Rapid Growth in Summer

News:

• Trump Vows to Create 10 M New Jobs
• China Will Not Resort to Flood-Like Stimulus
• Ross: China Buying Large Amounts of Agricultural Products
• Russia Produces First Batch of Coronavirus Vaccine
• EU Approves Corona Vaccine Deal with AstraZeneca
• China is Stepping up US Oil Purchases