Mild optimism continues for the dollar

Exclusive Capital Research Team

See all articles

Market Brief, Tuesday, 11th of August, 2020

The greenback appreciated against most major rivals, with the EURAUD, and GOLD being its weakest rivals. In contrast, The Pound remained resilient, posting a modest intraday advance against its American rival. Dollar’s strength could be attributed to weekend news indicating that US President Donald Trump signed four executive orders on fiscal aid.

US benchmarks were mixed on Monday as the Dow jumped 1%, the S&P 500 inched up and the Nasdaq closed lower. Value stocks were bid up as investors took a step down from heavyweight tech-related names as there was still no progress on a US fiscal support bill.  

Yi Gang, the governor of the People’s Bank of China confirmed that China will continue implementing the phase-one economic and trade agreement with the US while measures announced to open up China's financial sector will also continue.

Crude oil climbed nearly 1.50% in a bid to test the $42 mark on Monday, in the wake of the upbeat outlook painted by Saudi Aramco’s CEO Nasser and expectations that Iraq will cut output in August.

Finally, Bitcoin tested the $12,000 level again and had another flash crash, dropping $500 within seconds triggering bots to sell and longs to liquidate before quickly recovering and head again towards $12,000.

Important Information: This communication is marketing material. The views and opinions contained herein are those of the author(s) on this page, and may not necessarily represent views expressed or reflected in other Exclusive Capital communications, strategies or funds. This material is intended to be for information purposes only and is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument.

Read our detailed Marketing Communication Disclaimer

SHARE

CONNECT WITH OUR TEAM

Explore the ways in which we can help you achieve your investment goals.

OUR PARTNERS
bdo

EXTERNAL AUDITOR

ey

LEGAL ADVISOR

lgt

CUSTODIAN BANK

efg

APPROVED PARTNER

Raiffeisen

DEPOSITORY BANK

Prime Fund

GROUP MEMBER