What you need to know on Thursday, August 8
Publish Date : 2019/08/08 - 06:32

What you need to know on Thursday, August 8:

Market conditions improved after China's yuan adjusted above 7.00. China's trade surplus also beat expectations and saw a significant increase in exports.

The USD/JPY pair remains above the 106 range and commodity currencies have gone up. US 10-year yields also remained above 1.70% after falling below 1.60% on Wednesday.

Federal Reserve member Charles Evans said adverse economic conditions meant the need to cut interest rates further.

Reserve Bank of New Zealand Chairman Adrian Orr, reiterated the possibility of negative interest rates.

After the Reserve Bank of Australia did not change interest rates, the focus is on the speech by Bank of Australia Governor Philip Lowe on Friday.

The British Foreign Secretary believes the EU's position has made it difficult to reach an agreement.

Oil prices have gained support after Saudi officials have called other oil-producing countries and offered options to halt oil prices.

Gold is around the $1,500 range, the highest level since 2013.

Source: Fxstreet

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