Five things traders need to know today A strong rally in th | Entity Fx™

Five things traders need to know today

A strong rally in the Chinese equity market propelled global benchmarks except the ASX200 (-0.7%). S&P 500 +1.59%. Nasdaq hit another record high, led by Amazon and Tesla. Non-manufacturing PMI beat the expectation at 57, indicating a strong economic recovery in the US. CN50 surged 9.9% to 16,385.

The US dollar index (USDX) tumbled to 96.68 as risk sentiment improved. The yield on 10-year Treasuries rose to 0.68%. JPY and CHF gained against USD.

EUR surged to a two-week high of 1.1308 on the upbeat retail sales figures in the eurozone. GBP increased but failed to hold above 1.25 on the growing tensions between the UK and China. The BoE governor also warned of the negative rate.

CNH strengthened to a three-month high of 7.0155 alongside the bull stock market. AUD extended the rally to 0.6973 ahead of the RBA rate decision (14:30 AEST). Australia is set to close the border between Victoria and NSW. NZD increased to 0.6554.

Gold jumped to $1784.69 on rising virus cases worldwide, with eyes on a monthly high of $1789. WTI crude (XTIUSD) edged higher to $40.51 as Saudi raised its official selling prices for all types of crude in August by $1.