Daily Recap: Thursday, August 6, 2020

On Thursday, the USD continued its downward trend after briefly rising supported by positive employment data. Meanwhile, gold continues to make new historic levels, however, the stock market did not plummet on the rising demand for safe havens, as the Nasdaq broke its all time high closing level for the 34th time this year.

Here is a look at today’s top stories:

Forex:

• BOE Leaves Monetary Policy Unchanged
• DXY Returns to Negative Territory
• GBP Rises Following BoE Statement
• USD/CHF Near Multi-Year Lows

Cryptocurrencies:

• Bitcoin is Rising alongside Other Cryptocurrencies

Stocks:

• Nasdaq Registers New Record High
• European Stocks Close Lower
• European Stocks Fall After BOE Forecast
• Japan Stocks Fell by Weak Season

Commodities:

• Oil Prices Settle Lower Over Recovery Concerns
• Gold Settles Near $2,070 per Ounce
• Gold Hits a Fresh Record High
• Silver at Its Highest Levels in Seven Years

Economic Data:

• 1.18M Americans Applied For Unemployment Benefits
• Global Food Price Index Rises in July
• UK Construction Activity Jumps in July
• German Industrial Orders Growth Accelerated in June

Remarks:

• Fed’s Kaplan Rules Out Negative Rates
• Barkin Hopeful Jobless Claims Could Further Decline