Dollar fails to rebound whilst US equity futures continue to rise and tax hike rumours spark in the UK
Dollar Index fails to hold to earlier gains from European morning session, falling sharply from 92.48 to 92.20. European and US equity bourses climb , with Japanese equities outperforming Asian peers. Though covid-19 cases are dropping in developed countries, they remain high in developing countries - the battle is far from over. Tax hike rumours in the UK?
Markets Enter August With Risk Appetite – US Trading Session Update
The dollar index has staged a retracement , up +0.41%. This is likely a technical correction supplemented with positive manufacturing data after weeks of heavy selling. According to ING, the 94.50 level will be a difficult level for the index to clear.
Souring US China Relations Could Pull Markets Back From Recent Highs
The row between the US and China over the blame of the COVID19 pandemic is escalating. Secretary of State Mike Pompeo publically declared there is “enormous evidence” the Coronavirus originated in a Wuhan laboratory, as opposed to the scientific consensus that it resulted from the transfer of animals.