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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
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Market Brief Risk off reduced with a drop in USDCNH

Article By: ,  Financial Analyst
August 6, 2019 4:20 AM

FX & Stock market snapshots as of [06/08/2019 0500 GMT]


  • The JPY crosses have continued to see heightened volatility where profit taking can be seen in yesterday’s USD/JPY shorts positions. The USD/JPY has rallied closed to 1.00% in today’s Asian session to retrace yesterday’s steep decline due to trade tensions escalation.
  • RBA has left the key policy cash rate unchanged at the lowest level of 1.00% as expected and admits that the Australian economy has slowed and cited renewed trade tensions between U.S. and China as a major concern. The AUD/USD has traded sideways below yesterday’s high of 0.6804.
  • Ahead of the European opening session, all Asian stock markets are still trading in the red with the Australia’s ASX 200 being the worst performer with a loss of -2.44% as at today’s Asian mid-session. Technology & Healthcare sectors are the biggest drag on the ASX 200 where both sectors have declined by -3.98% and -3.33% respectively.
  • After the U.S Treasury Dept has officially named China as a “currency manipulator”, the China central bank PBOC has guided the opening fixing on the onshore USD/CNY at 6.9683, above yesterday fixing of 6.9225 but below expectations of 6.9871.
  • The offshore USD/CNH has dropped by 807 pips from today’s Asian session high of 7.1400 to a current intraday low of 7.0593. A weakening USD/CNH has managed to trim earlier losses seen in the Asian stock markets.
  • The S&P E-mini futures has traded up by 2.91% from today’s Asian session low of 2775 to print a current intraday high of 2850.

Macroeconomic Calendar


*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.


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