The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Market updates on July 30
Information is not investment advice
Key events ahead:
South African unemployment rate – 12:30 MT time.
American CB consumer confidence – 17:00 MT time
- GBP/USD continues to go down on the fears of a no-deal Brexit. At the start of today's Asian trading session, the pound tested the lows at 1.2118. After that, it managed to recover a little towards the resistance 1.2197. However, the downside pressure is still high, and ADX confirms that. If bears take over the market once again, the cable will retest the recent low at 1.2118. The next support will lie at 1.2017. If the British pound is supported, the retest of the 1.2197 level with the following breakout will help the pair to rise further to the 1.2225 and 1.2269 levels.
- US trade Representative Robert Lighthizer and his team of negotiators will meet with Chinese side today to discuss trade. If the outcome is positive, the Australian dollar may be supported. On H4, AUD/USD continues to move within the downtrend. The next support for the aussie will lie at 0.6881. If this level is broken, this will provoke a further fall to the 0.6866 level. In case of the movement to the upside, the first resistance will lie at 0.6911. After that, pay attention to the 0.6932 level.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
The country has come through the worst and is recovering now.
Moody’s downgraded the country to ‘junk’ status on Friday.
The US economy has been hit hard by the coronavirus outbreak.