CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. 79% 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. 79% 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: U.S. gridlock over stimulus keeps stocks muted

18:20 7 August 2020
• The US economy added 1.76 million jobs in July 2020
• Trump bans dealings with Chinese owners of TikTok, WeChat
• Gold retreats from record high

European indices managed to erase early losses and finished final session of the week slightly higher. Recent industrial output figures from Germany and France beat market expectations and German exports increased by 14.9% from a month earlier, most since 1990. However increasing geopolitical tensions and mixed US employment report weighed on market sentiment. During today's session DAX 30 added 0.5%, CAC 40 finished flat and FTSE 100 gained 0.1%   For the week, the DAX 30 advanced 2.8%, CAC 40 jumped 2.2%,  FTSE 100 advanced 2.3%.

Meanwhile US indices are shifting between gains and losses. President Trump signed executive orders to ban transactions with Chinese apps Tencent's WeChat and ByteDance's Tiktok. US Treasury has imposed sanctions on Hong Kong chief executive Carrie Lam, and 10 other top officials from Hong Kong and mainland China for "implementing Beijing's policies of suppression of freedom and democratic processes". As if that was not enough, Trump decided to reimpose 10% tariffs on some Canadian aluminum products while Ottawa pledged retaliation. Meanwhile, closely watched NFP report showed the US economy added more jobs than expected in July, mainly boosted by a jump in government payrolls. However private sector employment and manufacturing payrolls came in below analysts' expectations. At the same time, many investors lost hope that US lawmakers will reach an agreement on coronavirus stimulus package today.

Gold pulled back from previous session's record high of $2,074 an ounce  to trade around $2,027 an ounce amid a stronger US dollar. It seems however, that gold for the ninth time in a row will finish the week in green. This would be the longest streak of weekly gains in approximately ten years. Gold rose over 35%  this year thanks to ultra-low-interest rates and concerns regarding the recovery of the global economy.
For the same reason Oil prices dropped more than 1% on Friday, pulling back from a week of gains. The surging number of new coronavirus cases remains the dominant issue for the demand outlook. Spread of pandemic continue to accelerate in the United States , while India recently reported a record daily jump in infections. Almost 720,000 people have died in the worldwide pandemic. During today’s session Brent crude lost 1.3%, to $ 44.52 a barrel  and WTI crude fell 1.4%, to $ 41.35 a barrel. Brent is set for a weekly gain of 2.8%, while WTI is on track to rise 2.7%
AUDUSD is trading in local sideways move. Today pair bounced off the upper limit of consolidation range at 0.7242. If sellers manage to break below the lower limit of the range at 0.7060 ,then the downward move into 0.6982 is possible. However, in case of a break higher, the next resistance to watch is 0.7328. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 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. X-Trade Brokers Dom Maklerski 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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