8.2.2022 FxGecko Forex News
2022-08-02 10:22:44
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1. Forex: The dollar weakened on Monday as investors increased their bets that the Fed's aggressive policies will plunge the U.S. economy into recession, U.S. manufacturing activity slowed less than expected in July, with signs that supply constraints are easing and manufacturing input price sub-indicators fell to a two-year low, suggesting inflation may have peaked.

2. Gold: Gold prices were near a one-month high on Monday as the dollar fell and investors awaited economic data that could influence the Fed's tightening policy path.

3. Crude oil: Oil prices fell more than 4 percent Monday as weak manufacturing data from several countries weighed on the demand outlook, while investors prepared for a supply meeting this week between OPEC and its oil-producing allies.

4. Stocks: U.S. stocks closed lower on Monday, with intraday moves shaky as ExxonMobil and other energy stocks moved lower while Boeing rose, while investors digested the biggest one-month gain in two years recorded by U.S. stocks in July.


Market News:

1. Gazprom's gas production down 12% in the first seven months of the year

2. Libya's oil production and exports rebounded in the second half of July.

3. Moody's: The Fed is expected to continue front-loading rate hikes at several upcoming FOMC meetings and is expected to raise the federal funds rate to 3.50%-3.75% by the end of the year and to above 4.0% by March 2023.


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