Bitcoin down 6.3%, Gold up 1.2% Gold bugs and Bitcoin bulls have found common ground in the past two months. The combination of slowing growth, lower rates and trade fears have boosted both. In general, they have moved in lockstep — albeit with much larger percentage moves in BTC. Lately though, we’ve seen the correlation
The Kiwi Dollar keeps facing downside risks to the 0.6230 region in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Despite a recovery overnight, NZD was largely within our expected 0.6420/0.6505 range. Today, it is likely that NZD may grind higher but gains may be limited at 0.6485. Support is
GBP/USD remains on a back foot amid recent UK political news. Rebel MPs readying for early-September action. UK CPI, trade/political news in the spotlight.  GBP/USD keeps taking the rounds to two-day long ascending support-line while trading near 1.2060 during Wednesday’s Asian session. The Cable responded to the latest Brexit headlines with a cold heart as
Something else to look out for tomorrow besides the PBOC daily yuan fixing Of note, we’ll be getting the release of key Chinese data for July as per the below: Industrial production: +6.0% y/y expected (prior +6.3%) Industrial production YTD: +6.0% y/y expected (prior +6.0%) Retail sales: +8.6% y/y expected (prior +9.8%) Retail sales YTD:
Australian Dollar Talking Points AUDUSD pares the advance from the monthly-low (0.6677) as the People’s Bank of China (PBoC) continues to weaken the Yuan reference rate, and current market conditions may continue to drag on the exchange rate amid the growing threat of a US-China trade war. AUDUSD Rate Outlook Clouded by Mixed RBA Rhetoric
AUD/JPY shows little reaction to the RBA’s Kent’s speech. Risk catalysts like Hong Kong protest, updates from Argentinean politics and US-China trade developments dominate market sentiment. Second-tier data from Australia and Japan will provide fresh impulse. AUD/JPY failed to move much despite a speech from the RBA’s Assistance Governor as it seesaws around 71.10 during
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Why a no-deal Brexit will ultimately turn into a deal for the UK It was reported early this week that Brussels has finally accepted that Boris Johnson is not bluffing and is prepared to leave the EU without a deal.Further reports in the week, from Boris Johnson’s special adviser, Dominic Cummings, said that it is