Here is what you need to know on Tuesday, September 1:
The dollar remained under selling pressure, reaching fresh lows against most major rivals after a mild bullish corrective movement. The Dollar Index fell to its lowest in almost 2-year, incapable to recover after Fed’s latest announcement of a monetary policy shift. The Japanese currency was the weakest, ending the day in the red against the dollar.
The shared currency flirted with yearly highs against its American rival but was unable to break above it. GBP/USD and AUD/USD, on the other hand, reached fresh 2020 highs.
Upbeat Chinese data brought some homes, alongside news that the country will start using one of its coronavirus vaccine on risk groups. The pandemic, however, continues expanding worldwide, with over 25 million recorded cases. Slow economic growth remains in the spotlight.
Equities closed mixed in the US, and mostly down in Europe, as investors adopted a cautious stance ahead of a busy week.
Commodities traded unevenly, as crude oil prices edged lower, weighed by stocks’ weakness, while gold prices edged higher. Spot settled at around $1,970.00 a troy ounce, slowly crawling back towards the 2,000 threshold.
The RBA is having a monetary policy meeting this Tuesday.
Read More: Slow start to a busy week