CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Pelosi's visit to Taiwan did not trigger wider conflict

19:04 2 August 2022
  • Major European bourses finished today's session only slightly lower, with DAX 30 losing 0.23% as Pelosi visit in Taiwan failed to trigger large scale sell-off as some investors feared. 
  • Unemployment in Spain increased in July for the first time since February of 2021, another sign that a recession in Europe may be on the horizon. 

  • BP recorded its biggest profit in 14 years as energy bills soar. The company announced a 10% increase in its quarterly dividend payout.

  • Mixed moods prevail on Wall Street as market attention turned to House Speaker Nancy Pelosi's visit to Taiwan. Beijing said such a visit would be a flagrant violation of the "one China" policy controlling the territory's status and an indication of American support for Taiwanese independence.

  • While her visit did not lead to any military actions, the Chinese army announced it will conduct important military exercises and training activities including live-fire drills in six regions surrounding the Taiwan island from Thursday to Sunday.

  • Uber soared over 15% after beating analysts’ expectations for revenue despite heavy second-quarter losses. 

  • Pinterest rallied more than 10% despite weak quarterly figures, after activist investor Elliot Management revealed that it became the largest shareholder in the company as it sees a significant potential for growth.

  • Fed's Evans said that a 50 bps hike in September is a reasonable assessment, but 75 is also ok. He does not expect a 100 bp increase.

  • Fed's Mester said to the Washington Post that does not believe we are in a recession and pointed to a healthy labour market. 

  • US job openings plunged to 9-month low.

  • Brent crude jumped above $102.00 per barrel and WTI tested $ 95.60 per barrel as oil trades brace themselves for tomorrow’s OPEC meeting

  • Gold rose at the beginning of the session, however buyers failed to break above $ 1790 per ounce and price returned to $1770 level.  

  • Currently USD and CAD are the best performing major currencies while NZD and AUD lag the most.

  • Cryptocurrencies are trading slightly higher on Tuesday. Bitcoin price returned above $23.000, while Ethereum rose to $1645. 

Silver price bounced off 50 SMA (red line) and is approaching psychological support at $20.00 per ounce. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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