Draghi and Merkel are meeting today, but somehow this meeting is kept out of the press and one has to wonder if Draghi is meeting with Merkel one week before the ECB meeting for a reason… Perhaps to align on possible more drastic dovish measures by the ECB?
China/U.S. at a Stalemate
Meanwhile, China and the US are not making significant progress, there is no date for any September meeting, while China has officially complained to the World Trade Organisation over the latest U.S. tariffs on billions of dollars worth of Chinese imports. Specifically, China's Commerce Ministry claimed that the U.S.’ latest move to impose new tariffs is in breach of an agreement reached by President Trump and Chinese President Xi Jinping at the G20 summit in Osaka in June.
Johnson Threatens with New Elections
The sterling neared a 2-year low against the USD this morning amid mounting uncertainty as British lawmakers prepared to vote on the first stage of a plan to block Prime Minister Boris Johnson from pursuing a no-deal Brexit. UK PM Johnson plans to vote for a general election on Wednesday if lawmakers vote for another Brexit delay today!
Forex Preview: GBP Plummets
The sterling plummeted to a multi-year low on the Brexit issues within Britain causing havoc which may send the Pound further lower. Elsewhere, the Australian dollar edged higher after the Reserve Bank of Australia kept interest rates unchanged at a record low of 1% on Tuesday. Meanwhile, the USD stood tall with traders now focusing on the ISM index data later today for more direction, while the EUR lost heavily on weaker German economic data yesterday and an immediate outlook of heavy dovish measures from the ECB.
Oil Wobbles, Gold Supported by Economic Slowdown Fears
Oil prices were mostly subdued today and could challenge the support on a build in the APIs later today.. Elsewhere, gold remained supported and is still in a position to edge higher as no resolution is anywhere to be seen in any of the risk matters globally, from the trade war to Brexit.
Bitcoin Recovers
Bitcoin came back “from the dead” to reclaim the 10k level breaking above it but only back to the former resistance of 10.3k to add 6.5% as of 8:20 GMT this morning. We could expect further gains from bitcoin today which currently leads a broader cryptocurrency rally followed by NEO and Ethereum which have also added 4% today.
Watch the video here:
China/U.S. at a Stalemate
Meanwhile, China and the US are not making significant progress, there is no date for any September meeting, while China has officially complained to the World Trade Organisation over the latest U.S. tariffs on billions of dollars worth of Chinese imports. Specifically, China's Commerce Ministry claimed that the U.S.’ latest move to impose new tariffs is in breach of an agreement reached by President Trump and Chinese President Xi Jinping at the G20 summit in Osaka in June.
Johnson Threatens with New Elections
The sterling neared a 2-year low against the USD this morning amid mounting uncertainty as British lawmakers prepared to vote on the first stage of a plan to block Prime Minister Boris Johnson from pursuing a no-deal Brexit. UK PM Johnson plans to vote for a general election on Wednesday if lawmakers vote for another Brexit delay today!
Forex Preview: GBP Plummets
The sterling plummeted to a multi-year low on the Brexit issues within Britain causing havoc which may send the Pound further lower. Elsewhere, the Australian dollar edged higher after the Reserve Bank of Australia kept interest rates unchanged at a record low of 1% on Tuesday. Meanwhile, the USD stood tall with traders now focusing on the ISM index data later today for more direction, while the EUR lost heavily on weaker German economic data yesterday and an immediate outlook of heavy dovish measures from the ECB.
Oil Wobbles, Gold Supported by Economic Slowdown Fears
Oil prices were mostly subdued today and could challenge the support on a build in the APIs later today.. Elsewhere, gold remained supported and is still in a position to edge higher as no resolution is anywhere to be seen in any of the risk matters globally, from the trade war to Brexit.
Bitcoin Recovers
Bitcoin came back “from the dead” to reclaim the 10k level breaking above it but only back to the former resistance of 10.3k to add 6.5% as of 8:20 GMT this morning. We could expect further gains from bitcoin today which currently leads a broader cryptocurrency rally followed by NEO and Ethereum which have also added 4% today.
Watch the video here:
