What you need to know on Tuesday, August 3:
Market players were bullish early in the day, with the dollar falling against its main rivals. Sentiment worsened during US business hours, amid signs of slowing economic progress in the US The official ISM index contracted from 60.6 to 59.5 in July, a sign of slowing economic progress.
Wall Street turned south as government bond yields tumbled amid renewed demand for security. The yen and gold rose against the dollar.
The major pairs remain within familiar levels as investors await the top-tier data scheduled for later in the week. In the US, employment is taking center stage with the nonfarm payroll report.
EUR / USD is hovering around 1.1860 while GBP / USD is below 1.3900. The AUD posted modest gains against the dollar, but the CAD fell amid falling oil prices.
Gold closed at $ 1,813 a troy ounce, while WTI closed the day at $ 71.45 a barrel, affected by concerns related to a jump in OPEC production and slowing growth in China.
The Reserve Bank of Australia will announce its monetary policy decision on Tuesday.
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