A1 Trading Company

Ticker tape by TradingView

August 8, 2021

Forex Market Recap (01-06 August 2021)

Bart Kurek

We have a heavy week of central bank highlights, including the RBA's insistence to continue tapering, expectations of a rate hike in New Zealand, and comments from the Fed on when we may see tapering in the US.

USD:

  • PMI ticks up to a record high at 63.4
  • ISM manufacturing at 59.5, growth is slowing
  • Fed’s Waller says to ‘Go early and go fast’ on tapering
  • Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate
  • Fed Vice Chair Clarida anticipates rate hikes starting in 2023, sees upside risks to inflation
  • Fed’s Daly sees bond program taper later this year or early 2022
  • Payrolls increase 943,000 in July as the unemployment rate reaches 5.4%

EUR:

  • Eurozone Manufacturing growth remained strong in July despite a slight loss of momentum
  • Industrial producer prices up by 1.4% m/m
  • Spanish unemployment decreased by -5.47% in July
  • Eurozone PMI grows at the fastest rate since June 2006
  • Growth of eurozone productivity hits ten-month high amid stronger expansion in the service sector
  • In Q2 2021, French payroll employment increased by 1.2% and returned to its end of 2019 level

GBP:

  • Covid cases down by 33% over the past week
  • Service PMI sector recovery slows again in July, while inflationary pressures hit a new record high
  • BoE keeps policy unchanged, warns of ‘more pronounced’ period of inflation
  • BoE to keep a very close eye on inflation’s impact on wages

CAD:

  • Merchandise trade balance returned to a surplus position, reaching $3.2B in June
  • Jobs recovery continues in July amid reopenings
  • PMI for July falls to 56.4 vs. 71.9 previous

JPY:

  • Manufacturing PMI upgraded from 52.2 to 53.0
  • Tokyo shows an inflation pulse for the first time in a year
  • Business activity falls at a quicker pace in July
  • Japan warns of unprecedented covid spread as cases hit record in Olympic host city
  • Tokyo logs record covid cases over 5,000 amid medical collapse fears

AUD:

  • Inflation gauge ticked higher from 0.4% to 0.5%
  • Manufacturing sector growth slows amid virus disruption and supply constraints
  • AU consumer confidence rebounds 1.1% after lockdowns lift
  • RBA will trim bond-buying even as Delta variant slams economy
  • Retail sales fell by 1.8% as expected in June
  • Service sector sinks into contraction amid virus wave

NZD:

  • Quarterly employment change up 1.0% vs. 0.7% forecast in Q2
  • Unemployment rate down from 4.6% to 4.0% vs. 4.4% forecast
  • ANZ, Westpac, KiwiBank, ASB, BNZ project an RBNZ rate hike later this month

A1 Edgefinder

#1 Market Scanner Tool
Take 10% off using code "READER"
GET ACCESS NOW
Want to See Our Trades?

Join The VIP Community!

Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Exclusive Trading Guides
Use Code "READER" for 10% OFF!
JOIN NOWJoin FREE Discord
Listen to More Episodes
Even More Bullish USD News

This morning at 8:30 am Eastern Time, the United States’ Bureau of Economic Analysis released even more bullish USD news. The Core Personal Consumption Expenditures (PCE) Price Index, which measures changes in prices for consumers (excluding volatile food and energy prices), rose more than expected month-over-month. A 0.5% increase was expected for August, with 0.6% […]

Read More
Historic Peril for the Pound

A strange series of events recently sent the United Kingdom’s Pound Sterling tumbling to historic lows. Just weeks after the death of Queen Elizabeth II (a head of state who was uniquely well-liked among the UK’s population by contemporary standards) Kwasi Kwarteng, Britain’s new chancellor in recently appointed Prime Minister Liz Truss’ administration, issued a […]

Read More
Get Ready for the Bear Market

Last week’s selloff was brutal for investors in the US stock market: the Dow Jones Industrial Average closed at its lowest level since late 2020, falling to 29590.41, losing 1.6% on Friday alone. With the S&P 500 currently down a whopping 23% from January’s highs this year, and other indexes close behind percentagewise, stock market […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram