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31FX Blog

What’s to Expect in Forex Today – August 3, 2020

31FX- Here’s what you need to know today, Monday. More on Gold, US Dollars, Crypto right here.


Gold has taken another step toward $2,000 while the dollar is looking for a direction after recovering some of July’s losses on Friday. 

XAU/USD is trading around $1,970 after making another move toward $2,000. 

ISM Non-Manufacturing Purchasing Managers’ Index

Faster growth is expected in the industrial sector, which is more resilient to surging coronavirus cases.


GBP/USD has stabilized under 1.31 after experiencing high volatility. Final UK Manufacturing PMI will likely confirm the original print of 53.6 points.


EUR/USD is trading below 1.18 after temporarily topping 1.19 on Friday. Eurozone manufacturing PMIs for July is set to show recovery in all the continent’s large countries. 


AUD/USD is trading around 0.7150, consolidating previous moves as Melbourne was put under a nighttime curfew.


USD/JPY is trading closer to 106 with traders suspecting Japanese authorities have been intervening to weaken the yen. 


WTI has returned to trade above $40 after experiencing higher volatility late in July. 


Bitcoin had a wild ride over the weekend, surging above $12,000 before tumbling under $10,000 only to stabilize around $11,000.