CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

Daily Summary: Strong rebound on Wall Street 🎯

19:00 6 August 2024
  • After an uncertain market open in the USA, indices are set to end the day with significant gains. The US500 is up 1.50% to 5330 points, the US100 increases by 1.60% to 18430 points, and the US2000 gains 1.30% to 2090 points.

  • Yesterday's panic sell-off among investors was calmed by comments from FOMC representatives and news about the continued optimistic outlook of institutional investors.

  • The VIX volatility index showed a sharp decline from around 37 points yesterday to levels below 24 points today. This index has risen since the beginning of the month from a level of 15 points.

  • Caterpillar stock rebounded after the publication of Q2 financial results. The company reported lower revenues but surprised with profit, leading to a 4% rebound. EPS was $5.99, which was 8% higher than expected, while sales amounted to $16.69 billion, slightly below expectations.

  • In the forex market, there is also a rebound after yesterday's sell-off. The dollar is gaining strongly, remaining one of the better-performing G10 currencies. The USD index, USDIDX, gained 0.40% to 102.8000 points. The Japanese yen remains the weakest currency, with the USDJPY pair rising to 145.2000.

  • Factory orders in Germany increased by 3.9% month-over-month, stronger than expected. However, this was still a decline of 15.2% on an annual basis.

  • The RBA keeps interest rates unchanged but sends a hawkish message to the market. The head of the central bank indicates that interest rate cuts are not currently being considered. The AUD is the strongest currency today relative to the strong dollar, gaining 0.7%.

  • Retail sales in the Eurozone were lower than expected. Annual data for June showed a decrease of -0.3% against a forecast of 0.2% and 0.5% previously (after revision).

  • In the cryptocurrency market, the rebound is even stronger than in the indices. Bitcoin gained 5.0% to $56700, which is already over 16% higher than yesterday's low around $48500. Ethereum gained slightly less, 3.65%, but the price returned above the $2500 level.

  • The dollar's strength may put pressure on attempts to rebound in the commodity market. WTI oil gained over 1% today before the publication of new EIA forecasts, now it is declining on a daily basis. EIA expects a price of $80 for WTI by the end of this year.

  • Gold falls below $2400 per ounce, but still shows significantly less volatility compared to other assets.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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