What you need to know on Friday, August 9
Publish Date : 2019/08/09 - 06:22

What you need to know on Friday, August 9:

The market is affected by the US move to restrict China's Huawei company. The US action is in response to China's stopping their purchase of agricultural products.

China's Producer Price Index, with weak published data and lower than forecast, indicates weakness in China's industrial sector.

Japan's GDP in the second quarter was higher and better than expected. The USD/JPY has become more stable.

Reserve Bank of Australia governor Philip Lowe said that lower interest rates would help the Australian economy, but he added that the sharp decline in New Zealand's interest rates makes no sense. The AUD/USD is above 0.68.

Doubts over the UK election have weighs on the pound. November 1st being considered as Election Day - one day after Brexit.

Oil prices stabilized lower and helped the USD/CAD find its footing around 1.3200.

Cryptocurrencies and bitcoin are trading slightly below $12,000.


Source: Fxstreet

SignIn SignUp
Signals
Forex & Stock