High-Beta Currencies Are Recovering From Last Week’s Loss, Dollar Weighed By Kaplan’s Comments
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MARKET RECAP
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1️⃣ Stock markets in Asia closed higher as investors halted selling last week.

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FOREX RECAP
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1️⃣ USD declined after Robert Kaplan, president of the Dallas branch of the Fed, said he would consider delaying tapering in response to the effects of the COVID-19 Delta variant. Some analysts have speculated that Powell will announce a stimulus reduction delay in a speech at the Jackson Hole Meeting this time around.

2️⃣ AUD/NZD/CAD: High-beta currencies soared amid a positive market mood after a massive sell-off in the stock market last week.

3️⃣ Safe-haven currencies (JPY, CHF) slipped amid a surge in the stock market.

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COMMODITIES RECAP
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1️⃣ Crude oil prices rose more than 1.5% on Monday, following some demand after the oil market declined 7.7% last week. WTI crude traded around $ 63 a barrel.

2️⃣ Gold prices rose on Monday, following the weakness of the US dollar as investors waited for the Jackson Hole Meeting this weekend to see the Fed’s indications of tapering.

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Economic Data Focus On Today
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1️⃣ Australia Prelim Manufacturing/Services PMI for August (07:00 Malaysia Time) — Bearish Prediction — Due to recent lockdown in the country.

2️⃣ German Prelim Manufacturing/Services PMI for August (15:30 Malaysia Time) — Bearish Prediction — Concerns over COVID-19 could dampen the activity.

3️⃣ Eurozone Prelim Manufacturing/Services PMI for August (16:00 Malaysia Time) — Bearish Prediction — Concerns over COVID-19 could dampen the activity.

4️⃣ UK Prelim Manufacturing/Services PMI for August (16:30 Malaysia Time) — Bearish Prediction — Concerns over COVID-19 could dampen the activity.

5️⃣ US Existing Home Sales for July (22:00 Malaysia Time) — No Prediction — No prediction on the data.