The Greenback managed to shrug off part of the post-Fed retracement and advanced markedly in a context dominated by the risk-off sentiment.
Around central banks, the BoE delivered a cautious 25 bps rate cut, although it warned against the view of successive reductions. Here is what you need to know on Friday, August 2: The USD Index was the sole winner amidst the generalized risk aversion scenario, which saw yields head further south and a sharp sell-off in equities. On August 2, Nonfarm Payrolls take centre stage seconded by the Unemployment Rate and Factory Orders. EUR/USD resumed its decline and returned to the sub-1.
A volatile session left USD/JPY lingering around the 150.00 neighbourhood amidst the risk-off trade and declining US and Japanese yields. The Japanese calendar is empty on August 2. There seems to be no respite for the rout in AUD/USD, which sharply reversed Wednesday’s bullish attempt and refocused on the 0.6500 region once again. Home Loans and Investment Lending for Homes are expected in Oz on August 2 along with Producer Prices in Q2.
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