Daily Recap: Tuesday, August 4, 2020

Gold continued its historic rise, amidst increased demand for safe havens, despite the US Dollar recovering on the back of positive economic data. This data also helped crude oil prices resume gains, while stock markets showed a mixed performance around the globe.

Here is a look at today’s top stories.

Forex:

• AUD Rises Following RBA Statement
• GBP/USD Extends Daily Slide
• EUR/JPY Daily Gains Capped Around 125.00
• Euro Resumes its Gains

Cryptocurrencies

• Venture Fund to Invest $110 M in Cryptocurrencies

Stocks:

• Wall Street Closes in Green
• European Stocks Close Lower
• Europe Stocks Fall Due to Weak Results

Commodities:

• Gold Futures Close above $2,020 per Ounce
• Oil Finished at Highest Level in Five Months
• Gold Steady, Tensions Dominate

Economic Data:

• Canada’s Manufacturing PMI Surges in July
• US Factory Orders Rise by 6.2% in June
• Australia: Retail Sales Better than Expected
• Australia: Trade Surplus Fell Short of Expectations

Reports:

• IMF: Current Account Imbalances to Decline in 2020
• BoE Expected to Cut Main Rate to 0%
• Trump Says Coronavirus Under Control, ‘It is What It Is’
• ECB’s Lane: Committed to Providing Stimulus Needed
• IFO: Signs of Recovery in the Automotive Industry