The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
USD ahead of consumer sentiment report
Information is not investment advice
The US consumer sentiment will be published on July 17 at 17:00 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
There are two types of consumer sentiment reports: preliminary and revised. This one is preliminary, that’s why it has more influence on the market than the second one. The consumer sentiment is the one of main assessments of financial health of the country. Now, the USA is suffering from the fresh virus resurgence. Confirmed daily cases are increasing every day. As a result, it may deteriorate the consumer sentiment. Two last reports exceeded expectations. However, now we can’t be sure what the result will be.
If the US consumer sentiment is better than expected, the USD will surge.
If the US consumer sentiment is worse than expected, the USD will fall.
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.
The overall market sentiment is mixed as investors await the Federal Reserve’s statement today at the evening.
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
The US NFP will be published on August 7 at 15:30 MT time.