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Daily Market Brief

04 Aug,2021
Daily Market Brief

General Sentiment:


Asian shares gained back some strength today on the back of strong earnings although Japan’s Nikkei stayed lagging behind losing 0.28%. The delta variant however remains a concern in the market causing many challenges and capping further gains.

Investors’ focus shifts to Non-Farm payrolls due on Friday will definitely affect the feds course to taper.

Fed Vice Chair Richard Clarida will speak later in the day on monetary policy and quarterly refunding.

Equities:


On Wallstreet, The 3 major indices finished higher. Companies like Apple and Robinhood had a good finish as well.  Apple rose 1.26%

Other stocks like Tesla, Netflix, and Facebook dropped capping gains on the Nasdaq.

Currency Market:


The U.S. dollar continued to ease overnight ahead of U.S. Jobs data on Friday. hitting a low overnight of 91.86.

The risk-sensitive AUD/USD rose to 0.704 after a positive economic assessment by Australia’s central bank yesterday.

Commodities: Gold


Gold climbed this morning on the back of a weaker dollar. And ahead of Friday’s job report. Gold nudged higher 0.08% to 1,814.75.

Commodities: Oil


Oil prices dropped for a third consecutive session due to dampened fuel demand outlook. Brent fell to $72.39 while WTI lost 0.20% to $70.42.

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