Select Language

Forex Today: Focus shifts to the services sector

Breaking news

Forex Today: Focus shifts to the services sector

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.08.05 03:47
Forex Today: Focus shifts to the services sector

update 2025.08.05 03:47

The US Dollar (USD) navigated a mildly positive start to the new trading week, as investors continued to digest Friday's severe pullback in response to the dismal prints from the US Nonfarm Payrolls.

Here's what to watch on Tuesday, August 5:

The US Dollar Index (DXY) alternated gains with losses in the lower end of the recent range, well south of the 99.00 support, amid ongoing trade developments and renewed speculation of rate cuts by the Fed. The ISM Services PMI will take centre stage, followed by the final S&P Global Services PMI, the RCM/TIPP Economic Optimism Index, the Balance of Trade results, and the API's weekly report on US crude oil stockpiles.

EUR/USD receded marginally after faltering just ahead of the key barrier at 1.1600 the figure. The final HCOB Services PMIs are due in Germany and the broader Euroland, followed by Producr Prices in the bloc.

GBP/USD added to Friday's uptick and reclaimed the 1.3300 hurdle and beyond, hitting three-day highs at the same time. The final S&P Global Services PMI is due, followed by annualised New Car Sales.

USD/JPY kept the bearish tilt in place for the second straight day, briefly breaching the 146.00 support to reach multi-day lows. The BoJ will publish its Minutes, ahead of the final S&P Global Services PMI.

AUD/USD clocked decent gains and maintained intact its march toward the 0.6500 milestone on Monday. Household Spending is next on tap in Oz prior to the final S&P Global Services PMI.

Prices of the American WTI retreated further on Monday, hitting multi-day troughs near the $65.00 mark per barrel in response to another output hike announced by the OPEC+

In response to the US Dollar's irresolute price action and mixed US yields, gold prices extended their recovery and traded at a small distance from the key $3,400 mark per troy ounce. Silver prices followed suit, adding to Friday's bounce and hitting three-day peaks near $37.50 per ounce.



Date

Created

 : 2025.08.05

Update

Last updated

 : 2025.08.05

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

Fed's Daly leans closer toward rate cuts, but still remains cautious

Federal Reserve (Fed) Bank of San Francisco President Mary C. Daly hit newswires late Monday, noting that although there's plenty of reasons to start looking at interest rate cuts, there remains plenty of uncertainty making it difficult for Fed officials to step into rate trimming too quickly.
New
update2025.08.05 05:24

Gold price surges on speculation of September Fed rate cut following weak US jobs data

Gold price posted modest gains on Monday as expectations that the Federal Reserve (Fed) could cut interest rates rose since last Friday, following last Friday's dismal US Nonfarm Payrolls report. The XAU/USD trades at $3,375, edges up 0.39%.
New
update2025.08.05 04:46

USD/CHF climbs as Swiss data beats fail to offset trade worries, US Dollar firms

The Swiss Franc (CHF) edges lower against the US Dollar (USD) on Monday, snapping a two-day winning streak as the Greenback stabilizes, supported by a rebound in Treasury yields following last week's soft jobs data.
New
update2025.08.05 04:30

Japanese Yen gains ground ahead of BoJ minutes, USD under pressure amid policy uncertainty

The Japanese Yen (JPY) extended its gains against the US Dollar (USD) on Monday, strengthening slightly after staging a sharp rebound from a four-month low of 150.84 following Friday's disappointing US employment report.
New
update2025.08.05 03:50

Forex Today: Focus shifts to the services sector

The US Dollar (USD) navigated a mildly positive start to the new trading week, as investors continued to digest Friday's severe pullback in response to the dismal prints from the US Nonfarm Payrolls.
New
update2025.08.05 03:46

Dow Jones Industrial Average claws back ground after a week of declines

The Dow Jones Industrial Average (DJIA) bounced back on Monday, clawing back over 500 points and scrambling back over the 44,000 major handle as equity markets recovered their footing following last week's late rout fueled by worse-than-expected hiring figures from the latest Nonfarm Payrolls (NFP)
New
update2025.08.05 03:06

Canadian Dollar treads water as bullish Greenback pressure eases

The Canadian Dollar (CAD) found some much-needed footing on Monday, trading in a steady range near 1.3775 against the US Dollar (USD).
New
update2025.08.05 01:58

GBP/USD rebounds as Fed fate cut bets rise on weak US jobs data

The GBP/USD rallies for the second straight day, up by 0.12% following a dismal jobs report in the United States (US). The data prompted investors to price in a rate cut by the Federal Reserve at the upcoming September meeting. The pair trades at 1.3289, after bouncing off daily lows of 1.3253.
New
update2025.08.05 01:33

Australian Dollar falters below 0.6500 as RBA rate cut bets weigh on sentiment

The Australian Dollar (AUD) loses traction against the US Dollar (USD) on Monday, as the Greenback stabilizes in the aftermath of Friday's disappointing Nonfarm Payrolls (NFP) report. July's jobs report delivered a clear downside surprise.
New
update2025.08.05 01:28

US President Trump: Will substantially raise tariff on India

United States (US) President Donald Trump said that he will raise the tariff rate on Indian imports "substantially."
New
update2025.08.05 00:12

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel