This Week In Forex, Crypto, And Stocks – Tuesday, August 6

Forex Market Overview

The Australian and New Zealand Dollars both saw major declines to a fresh multi-month low and down for a twelfth consecutive day. The devaluation of the Chinese Yuan weighed on the Australian currency alongside with dismal data.

But in the US, despite the Federal Reserve decided to lower interest rates, the US Dollar still managed to enjoy a relative value increase last week. There aren’t going to be any major reports coming up this week, but we’ll keep a close eye on how the ongoing trade war is reflected in the currency market.

The Canadian Dollar had an up and down week last week, largely attributed to ongoing trade tensions. Meanwhile, a conservative future forecast along with possible easing measures caused the Euro to struggle.

Elsewhere, we saw the pound have yet another negative week, which was mostly due to the increased likelihood of a hard Brexit. Additionally, pessimistic forecasts from the Bank of England are causing many forex traders to look elsewhere.

In Asia, the Japanese Yen enjoyed a positive week, indirectly benefiting from trade disputes within the region. 

Stock Market Overview

The stock market opened the week with a very bearish dive, watching the Dow fall by more than 800 points. Until the trade issues with China can be dissolved, most American stocks can be expected to struggle.

 Among some of the biggest losers from this week’s stock plunge were Tyson Foods, arms manufacturers, and large-scale miners. Foods and agricultural products also experienced a major downturn—something that is notably rare for this time of the year.

There will be a lot to pay attention to over the course of the next week. Companies tied to the Yuan, luxury items, agricultural goods are expected to have a volatile couple of days. We’ll also pay attention to the actions of the Federal Reserve and see how its policies are reflected throughout the stock market.

Crypto Market Overview

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