The dollar remains the weakest


Here’s what you need to know on Thursday August 6:The dollar selling continued. A bad ADP survey that showed the private sector added just 167,000 new jobs in July added pressure on the US dollar. The ISM Services PMI surprised on the upside, but investors shrugged off the stock as the employment sub-component was weak. Meanwhile, the US Congress continues to discuss the next aid package, without reaching a deal yet.

High yielding EUR, GBP and AUD flirted with their recent multi-month highs due to dollar weakness, but there was no follow-up, easing slightly before the Wall Street close .

Stocks closed with gains, while government bond yields rebounded slightly from their recent lows, preventing the USD / JPY from collapsing.

USD / CAD plunged into a mix of encouraging Canadian data and rising oil prices, with WTI hitting $ 43.50 a barrel. The U.S. EIA’s inventory report showed inventories were down 7.37 million in the week ended July 31.

Gold prices have skyrocketed, reaching new all-time highs. Spot gold traded as high as $ 2,055.69 per troy ounce.

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