• DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
  • DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
No Result
View All Result

Tuesday, August 3, 2021 Headlines

FTD Limited by FTD Limited
August 3, 2021
Reading Time: 4 mins read
A A
Monday, June 14, 2021 Headlines
0
SHARES
33
VIEWS
tweetpostshare
  1. The Reserve Bank Of Australia Did Not Change Interest Rates
  2. Oil Continued Its Losses On Delta Concerns
  3. New Measures To Crypto In The USA Are On The Way

The Reserve Bank Of Australia Did Not Change Interest Rates

While the Reserve Bank of Australia (RBA) did not make any changes in the policy rate, it emphasized that reducing the asset purchase program will be carried out as planned.

Despite expectations of a decline in the country’s economy in the third quarter, the Reserve Bank of Australia (RBA) surprised markets today by deciding to begin cutting bond purchases in early September.

The central bank will continue to buy government bonds at a rate of A$5 billion per week until early September. It will reduce its purchases to A$4 billion per week until November 2021.

While emphasizing that Australia’s economic recovery has been more remarkable than projected, RBA governor Philip Lowe warned that new Covid-19 outbreaks in the third quarter of 2021 might disrupt the recovery.

“The recent outbreaks of the virus are interrupting the recovery, and GDP is expected to decline in the September quarter. The experience to date has been that once the virus outbreaks are contained, the economy bounces back quickly,” he said.

Lowe stated that they do not want to go faster than the Fed in the withdrawal of stimulus packages, while Fed Chairman Jerome Powell noted that the USA still needs time to reduce its asset purchase program.

Soon the RBA expects unemployment to fall to 4.25% by the end of 2022. Meanwhile, it expects it to decline to 4% by the end of 2023.

Oil Continued Its Losses On Delta Concerns

Oil is trading at $71 a barrel as investors focus on risks from the spread of the delta variant.

West Texas Oil slumped slightly after falling 3.6 percent on Monday, marking its most significant loss in two weeks.

While the highly contagious delta variant forces governments to take new quarantine measures, investors keep a close eye on the number of cases in China, the largest crude oil market.

In Indonesia, the largest petrol importer in Asia, restrictions have been extended until August 9. The demand for motor fuel, on the other hand, had lost almost a quarter before the extension decision was made.

While crude oil prices made a strong rally in the first half of the year with the start of vaccination in significant economies, the rise in prices decelerated in July with OPEC countries’ agreement on more production and delta variant concerns.

“The demand for energy remains intact, and there appears to be many waiting to buy on dips,” said Howie Lee, an economist at Oversea-Chinese Banking Corp., adding that a large part of the demand is still coming from the U.S. “We see a peak of $80 Brent before the end of this year.”

West Texas Oil for September delivery was little changed on Tuesday at $71.30 a barrel after falling 3.6 percent on Monday on the Nymex market.

Brent oil for October delivery rose 0.1 percent to $72.93 a barrel on the London ICE Futures Europe market.

New Measures To Crypto In The USA Are On The Way

Gary Gensler, Chairman of the U.S. capital markets regulator SEC, wants to follow cryptocurrencies more tightly.

Gensler said that while he is “neutral” with blockchain and cryptocurrency technology, he is “not neutral” on investor protection.

Giving his most comprehensive interview to date on cryptocurrencies to Bloomberg, Gensler said, “If someone wants to speculate, it’s their choice, but we as a government need to protect our investors against scammers.”

Gensler, who requested legal authorization from the U.S. Congress to monitor cryptocurrencies, emphasized that the SEC’s current powers are pretty extensive.

In recent years, the issue of which cryptocurrencies will be subject to the control of the SEC has been on the agenda frequently. Bitcoin and some other currencies are traded as commodities, not securities. But there are thousands of other cryptocurrencies, and Gensler argues that most of them should be treated as securities subject to SEC rules.

In addition, a broad crackdown on cryptocurrency transactions is buried in the still-unreleased bipartisan infrastructure package, which could raise big tax money for the government and cause major fear in a financial technology business that thrived during the coronavirus pandemic.

Many in the sector are concerned about the idea, fearing that they will be hit with several new laws that they would have to live with for years.

Learn more about us
Tags: Crude OilcryptocurrencyDelta variantOil PricesRBAWTI
TweetShareShareSend
Previous Post

Monthly Outlook – August

Next Post

EURUSD is About to Break the Bullish Formation

Related Posts

COT Weekly Non-Commercial Net Positions
CFDS

COT Weekly Non-Commercial Net Positions

Silver Slowed Down After the Massive Run
CFDS

Silver Slowed Down After the Massive Run

S&P 500 Bulls to Make Another Attempt to Break the Trend
DAILY UPDATES

S&P 500 Bulls to Make Another Attempt to Break the Trend

Mixed Course in Asian Stock Markets
DAILY UPDATES

Mixed Course in Asian Stock Markets

Oil prices
DAILY UPDATES

Break to China Rally in Oil

IMF
DAILY UPDATES

Year-End Forecast from IMF

Next Post
EURUSD May Turn Bullish After the FOMC Minutes

EURUSD is About to Break the Bullish Formation

You might also like

Monthly FX Market Outlook

Monthly FX Market Outlook

What is RSI

What is RSI and How to Use It Effectively? 

Psychology of trading plays a vital role in one's trading decisions

Trading Psychology

Differences between MT4 and Mt5

MT4 and MT5’s Differences – How to See the Total Lot Sizes in MT5?

Regulated and Licensed Forex Brokerage Company

Regulated Entities

FTD Limited's White Label Program gives you a chance to have your own brand within financial markets.

White Label Solutions

Recent Posts

  • COT Weekly Non-Commercial Net Positions
  • Silver Slowed Down After the Massive Run
  • S&P 500 Bulls to Make Another Attempt to Break the Trend
  • Mixed Course in Asian Stock Markets
  • Break to China Rally in Oil
FTD Limited

The content of the site is presented for informational purposes only not to give any investment advice which mainly focuses on financial instruments such as Forex, Spot Metals, CFDs, and Indices.

MENU

  • DAILY UPDATES
  • MARKETS
  • ANALYSIS
  • ARTICLES

Latest Articles

  • COT Weekly Non-Commercial Net Positions
  • Silver Slowed Down After the Massive Run
  • S&P 500 Bulls to Make Another Attempt to Break the Trend

Subscribe to our newsletter and get notified about the next update.

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    No Result
    View All Result
    • DAILY UPDATES
    • MARKETS
      • Forex
      • CFDs
      • Spot Metals
      • Indices
    • ANALYSIS
      • Fundamental Analysis
      • Technical Analysis
    • ARTICLES

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.