Financial Markets Update: Tuesday, August 6
Financial markets have stabilized after Monday’s volatility. Eurostat is set to release Retail Sales data for June, while the US will feature June Goods Trade Balance and RealClearMarkets/TIPP Economic Optimism for August. Stay tuned for updates on the conflict in the Middle East.
US stock index futures are up between 1% to 1.8% early Tuesday, following a 3% loss on Monday. The US Dollar Index is holding steady around 103.00, while the 10-year US Treasury bond yield is up about 2% near 3.85%.
In Asia, the Reserve Bank of Australia kept the policy rate unchanged at 4.35%, with Governor Michele Bullock hinting at the need for sustained restrictive policy until inflation reaches the target range. AUD/USD rose 0.3% above 0.6500.
EUR/USD climbed above 1.1000 but corrected lower to trade below 1.0950 after German Factory Orders data showed a 3.9% expansion in June.
Despite USD weakness, GBP/USD continues its bearish trend, trading around 1.2750. USD/JPY recovered slightly to 145.50 after losing 1.6% on Monday.
Gold dipped on Monday but remains steady above $2,400 with falling US Treasury bond yields. Stay informed and make informed decisions for your financial future.