Trade Ideas – Weekly FX Chart Round-Up 5th August 2019
Posted: 4th August 2019
FX Majors Video Round-up
Signal Centre’s video round-up on the major FX markets for the week ahead. Ian Coleman runs you through how we will be setting up our trade ideas and trading signals
Trade ideas & Daily market report August 5th 2019
- US jobs data was close to expectations with a small pick-up in wages growth.
- The dollar was unable to sustain slight gains as trade fears dominated and triggered fresh concerns over the US outlook.
- Risk appetite deteriorated further on Monday as a slide in the Chinese yuan beyond 7.00 increased fears over global trade and currency wars
- US bond yields continued to decline sharply with the 10-year rate below 1.80%.
- Equity markets declined sharply with Asian equities at 6-month lows.
- Demand for defensive assets increased strongly with further gains for the yen and Swiss franc.
- Gold also made fresh gains to 6-year highs as risk fears dominated.
- Bitcoin advanced to 3-week highs as demand for alternative assets remained strong.
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