Forex Today: Sentiment leads the way
What you need to know on Wednesday, August 4:
The greenback ended the day mixed, although major pairs held within familiar levels. A scarce macroeconomic calendar and caution ahead of first-tier events later in the week exacerbated rage trading.
Wall Street opened in the red but got to post modest gains, while government bond yields held around Monday’s closing levels. The market’s mood turned positive after a sour start to the day.
EUR/USD was unable to advance beyond 1.1900, despite a better market mood, ending the day at around 1.1860. The GBP/USD pair recovered some ground and settled at around 1.1910.
The USD/CAD pair edged higher, as oil prices remained depressed. On the other hand, AUD/USD hovers around 0.7400, after the RBA surprised with a not-so-dovish monetary policy stance. The Japanese yen appreciated against the greenback as bond yields remained subdued, briefly trading below the 109.00 figure.
Gold was incapable of attracting speculative interest, now consolidating around the 1,810 level.
Investors await US employment-related data and BOE’s Super Thursday.
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