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The Important Things That You Should Know On 28/07/2020

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1) U.S. Dollar recover from it losses on Tuesday, helped by souring sentiment on the Asian equities and expectations that the U.S. stimulus could be unveiled before the unemployment benefits expire on Friday, aided the dollar recovery ahead of Wednesday’s all-important FOMC decision.

2) Gold prices fell nearly $ 35 from the new high of $ 1,981.34, as investors took advantage of the relentless rise. The coronavirus concerns over the economy, the Fed’s uncertain expectations, and an escalating U.S.-China tensions benefit gold prices.

3) The US Treasury yields recovered some losses while S&P 500 futures pared back it gains despite the coronavirus vaccine optimism. On Monday, Moderna Inc and Pfizer Inc announced a launch of two 30,000-subject trials of COVID-19 vaccines that could pave the way for the widespread use by the end of this year.

4) EUR/USD traded lower, near 1.1770 levels, while GBP/USD fall below 1.2850, supported by gloomy UK-US trade deal hopes, as Brexit uncertainty continues to rise.

5) Commodity-currencies suffered, with NZD/USD lose the most, and traded around 0.6650. AUD/USD has pullback to 0.7100 levels after reached near 15-month highs of 0.7183. Meanwhile, USD/CAD advanced towards 1.3400, supported by weakness in WTI.

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