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The US Dollar (USD) showed strong recovery signs on Wednesday from near its lowest level in two years on the back of strong economic data in the US, coupled with the decline of the Euro with a surprise decline in German retail sales, and the Sterling Pound, with the British policy makers expressing doubts about the recovery to MPs.
Gold failed to capitalize on the rising reports signaling economic uncertainty, while oil prices declined despite an expected fall in US crude inventories, while stock markets achieved strong gains. Here is the daily recap of today’s top stories:
Forex:
- GBP/USD Declines on BoE Dovish Tone
- Dollar Extends Gains as Euro Declines
- Dollar Rises After Manufacturing Data
Commodities:
- Oil Prices Close Lower Despite Stockpiles Draw
- Gold Settles Lower as USD Recovers
- Oil Rises on Hopes of Recovery
- Gold Falls with Rise of US Dollar
- Crude Oil Futures Higher During Asian Session
- Gold Futures Fell During Asian Session
- API: Crude Stocks Fell by More Than 6 M Barrels
Stocks:
- NYSE Logs Highest Gains in a Week
- US Treasury Yields Show Mixed Signs on USD Recovery
- European Stocks Close Higher Despite Negative Data
- European Shares Open Higher
- Japan Stocks Rise on Hopes for US Economy
Remarks:
- Sholz: European Economy Will Recover from COVID-19
- Novak: Russia Will Propose OPEC+ Reaction to Demand Recovery
- Gualtieri: GDP to Drop Over 8% in 2020
- Mnuchin: Economy Urgently Needs Additional Financial Incentives
Economic Data:
- US Factory Orders Rise More than Expected
- Germany Revises Upward 2020 GDP Forecast to -5.8%
- ADP: Private Payrolls Grow by 428,000
- German Retail Sales Fall Unexpectedly in July
- Russian Oil and Gas Production Increases in August
News:
Reports:
