This is what you need to know to operate today Tuesday, August 10:
Asian stocks followed slow Wall Street performance overnight, undermined by prospects for stimulus withdrawal and the resurgence of the Delta variant in the region.
Market mood remains subdued on Tuesday, while the US dollar remains stable at three-week highs, helped by optimistic comments from the Fed and expectations of a reduction in the bond buying program earlier after the explosion shown by the US NFP. Rising delta concerns are also fueling sentiment around the safe haven dollar, weighing negatively on US yields.
The greenback also maintains the bullish tone before the vote in the United States Senate on the infrastructure bill of President Joe Biden’s $ 1 trillion, scheduled for 15:00 GMT on Tuesday. Senate Majority Leader Chuck Schumer said: “We have reached an agreement for the final approval of the infrastructure bill.”
Meanwhile, the oro he’s licking his wounds as he attempts a timid bounce around $ 1735 from five-month lows at $ 1688. WTI is on a steady recovery from three-week lows, recovering to $ 67 before the weekly US crude supply report.
Overall, most major pairs are hovering in a tight range amid a broadly stable US dollar, although the kiwi appears to be the main lag.
Meanwhile, AUD / USD also remains on the defensive, approaching 2021 lows, amid a drop in business confidence and the relentless spread of covid cases in Australia. The most populous Australian state of New South Wales (NSW) has recorded more than 350 new infections and has emerged as a new epicenter.
The GBP/USD is seeing new demand near 1.3850, though it remains undermined by renewed Brexit nervousness, and the migrant crisis. Former Brexit Party leader Nigel Farage criticized France and the EU for not having “raised a finger” to avoid the dangerous cross-channel migration crisis.
The EUR/USD It is approaching a four-month lows at 1.1731 amid a drop in Eurozone Sentix investor sentiment, optimistic expectations from the Fed and ahead of the German ZEW survey.
The cryptocurrencies they’re seeing a bit of a backlash, with the Bitcoin again below $ 46,000. The Senate rejected the crypto amendment as the bipartisan bill proceeds to a final vote with no further changes.
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