{"id":102804,"date":"2020-08-05T05:30:55","date_gmt":"2020-08-05T09:30:55","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102804"},"modified":"2020-08-05T06:02:43","modified_gmt":"2020-08-05T10:02:43","slug":"forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\/","title":{"rendered":"Forex Update: Dollar weak as Gold surge, Non-Farm Payrolls Eyed"},"content":{"rendered":"<p>Global equities, bonds and precious metals are bullish today, but the US dollar and treasury yields are moving down.<\/p>\n<p>Gold hit a new all-time high of 2,030.85 dollars and is forming a base near that. The fiscal and monetary stimulus backdrop supports its bullishness along with the drop in global bond yields.<\/p>\n<p>The yield on the 10-year notes is near 0.50 Percent, not far off from its March lows, rendering gold and silver prices as attractive alternatives. Silver prices &#8211; XAG\/USD is trading near 26.00 mark.<\/p>\n<p>Regarding the US stimulus front: Republicans and Democrats are trying to dish-out a deal soon, but there are a lot of differences to be ironed out.<\/p>\n<p>A meeting between the US and Chinese representatives, to assess the progress of the phase-one of the commerce accord, is set to take place. Such meetings are considered an improvement compared to the ongoing confrontations on different issues.<\/p>\n<p>The official Non-Farm Payrolls expectations will have a precursor today as ADP&#8217;s labour report comes in. Also, the employment component of the ISM Non-Manufacturing Purchasing Managers&#8217; Index will be keenly watched.<\/p>\n<p>Non-Manufacturing PMI is expected to see a decrease from 57.1 points in June, but to remain in the growth zone. The employment component of this index is critical to watch as, earlier, Manufacturing PMI exposed a soft employment scene; despite better than expected headline numbers.<\/p>\n<p>On the Covid-19 development, United States case curve ticked lower, but the number of deaths above 1,000 a day is causing concerns.<\/p>\n<p>Novavax, a Maryland-based company, published promising results in developing a vaccine against the virus.<\/p>\n<p>EUR\/USD is trading around 1.1800, mostly helped by the dollar weakness as the currency pair awaits the Final services PMIs.<\/p>\n<p>GBP\/USD is trading around 1.3100; the British government is now under flak for keeping borders open for too long during the early stages of the COVID-19 crisis.<\/p>\n<p>NZD\/USD is trading above 0.6600. The weakness in the dollar and better than expected employment numbers &#8211; only 4 Percent unemployment in the second quarter, is helping the pair.<\/p>\n<p>USD\/CAD is trading below 1.3300, with oil-price changes influencing its performance. Oil inventory numbers are expected later in the day.<\/p>\n<p>Bitcoin is trading strongly above 11,000 dollars and points to stable trading in cryptocurrencies after many volatile days.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">USD Index Today - last 180 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-102809\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global equities, bonds and precious metals are bullish today, but the US dollar and treasury yields are moving down. Gold hit a new all-time high of 2,030.85 dollars and is forming a base near that. The fiscal and monetary stimulus backdrop supports its bullishness along with the drop in global bond yields. The yield on [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":83094,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1380,1379,1659,1381],"tags":[],"class_list":{"0":"post-102804","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-eur","9":"category-gbp","10":"category-nzd","11":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Forex Update: Dollar weak as Gold surge, Non-Farm Payrolls Eyed - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"Forex Update: Dollar weak as Gold surge, Non-Farm Payrolls Eyed\",\"datePublished\":\"2020-08-05T09:30:55+00:00\",\"dateModified\":\"2020-08-05T10:02:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\\\/\"},\"wordCount\":439,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/British-Pound-Consolidates-Gains-NOK.jpg\",\"articleSection\":[\"CAD\",\"EUR\",\"GBP\",\"NZD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/forex-update-dollar-weak-as-gold-surge-non-farm-payrolls-eyed\\\/\",\"name\":\"Forex Update: Dollar weak as Gold surge, Non-Farm Payrolls Eyed - 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