Baxia Markets
August 08, 2022

Weekly Update

foreign exchange market 24 hours baxia markets

The US S&P Global PMI falls short of expectations.

  • The PMI is still within the expansion area but came slightly short of what experts anticipated and lower than the previous month.


European Area S&P PMI also came short of expectations

  • Europe is now seeing a contraction as Factory Production slows down
  • The unemployment rate remains unchanged 


Reserve Bank of Australia hiked Interest Rates 50 basis points.

  • This is the fourth consecutive hike from RBA in an effort to control inflation and restore price stability.
  • The Balance of trade dropped 1.956B from the previous month.


Economic concerns in China and Taiwan strengthen the USD

  • The USD gained significant ground across all major pairs on Tuesday in a combination of Fundamental and technical factors.
  • European geopolitical concerns appear to be driving investors to purchase US assets despite US data indicating the country's economy is weakening.


Bank of England hikes Interest Rate.

  • BoE hiked the Interest rate by 50 bps to a total of 1.75%
  • The pound gained some ground over the US dollar but fell after US Non-Farn Payrolls data release.


US Non-Farm Payrolls data came out higher than expected

  • The result was 528K, more than double the consensus of 250K
  • The USD labor market continues to be strong, helping raise the value of the USD


Upcoming High Impact Economic Indicator Releases


CHF- Switzerland Unemployment Rate



CNY - China's Inflation Rate YoY



USD - USA Consumer Price Index

USD - Inflation Rate YoY



GBP - UK GDP Growth Rate

GBP - UK Goods Trade Balance

USD - USA Michigan Consumer Sentiment

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