Morning Brief
Market sentiment looks to be improving at the start of the new trading week after news broke over the weekend that this weeks Jackson Economic Symposium will be held virtually, pushing back expectations that FED Chair Powell will announce tapering QE.
The evidence is clear in terms of the market reaction that traders and investors have significantly scaled back their expectations, with the S&P 500 futures rising and Asian indices posting strong gains this morning.
See real-time quotes provided by our partner.
Perhaps the most interesting market reaction is in the US dollar, with commodity-related currencies, such as the USDCAD pair, selling-off broadly and the euro currency jumping well above the 1.1700 level.
Looking at other market sectors, Crude and Brent are posting strong gains, with Crude oil trading over 1.50 percent higher and Brent oil gaining over 2 percent. Both need to rack-up double-digit gains still to erode this month’s losses.
See real-time quotes provided by our partner.
Gold, silver, and copper are also rising in the precious metals space. Silver appeared extremely oversold on the technical front and is the strongest gainer amongst the three precious metals.
Bitcoin is trading back above the $50,000 level this morning on the Jackson Hole news, plus other bullish news had broken that PayPal is going to offer UK clients the ability to buy, sell, and hold cryptocurrencies.
See real-time quotes provided by our partner.
Both AUDUSD and NZDUSD opened lower today after a further jump in coronavirus cases over the weekend in both countries. Also, riots in Australia’s two largest population cities, Sydney and Melbourne, with significant violence from rioters in Melbourne.
Looking ahead to the European trading session the release of preliminary eurozone and United Kingdom PMI manufacturing data for the month of August are set to headline the economic docket.
Given that expectations are high, any big miss in these data points could rock the euro and pound currencies. If we do see both coming in-line with the markets expectations then expect more US dollar weakness.
A comprehensive website for traders, both experienced and new! Checkout our content and learn how to invest and speculate in the markets using margin traded products. Our team of educators has extensive experience and is here to help. Enjoy!
© 2020 YouTrading UK - Leaders in Trader Training.
Cookie | Duration | Description |
---|---|---|
__cfduid | 1 month | The cookie is used by cdn services like CloudFare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. It does not correspond to any user ID in the web application and does not store any personally identifiable information. |
_wpfuuid | 11 years | This cookie is used by the WPForms WordPress plugin. The cookie is used to allows the paid version of the plugin to connect entries by the same user and is used for some additional features like the Form Abandonment addon. |
cf_use_ob | This cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires. | |
cookielawinfo-checbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
Cookie | Duration | Description |
---|---|---|
_fbp | 3 months | This cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website. |
fr | 3 months | The cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin. |
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
Cookie | Duration | Description |
---|---|---|
_gat_UA-42160853-2 | 1 minute | No description |
cf_ob_info | No description | |
CONSENT | 16 years 8 months 3 days 6 hours 2 minutes | No description |