FX Handover Gold Bucks It Parabolic Trend Bitcoin Cracks 12k
A summary of news and snapshot of moves from today’s Asia session.
Share this:
- The US dollar remains supported after comments from Powell and Bullard were perceived as less dovish than feared. The weak lead from Wall Street also weighed on Asian equity markets early on.
- NZD is the strongest major after RBNZ held rates and provided only a slightly dovish statement. Still, it paves the way for an August cut with key employment and inflation data arriving just ahead of their next meeting.
- Slight improvement to risk appetite saw gold fall -1.3%, currently its most bearish session in 3 months. USD/CNH nudged its way up to a 5-day high. JPY is the weakest major.
- China has suspended Canadian meat imports from select companies with immediate effect.
- A Senior administration official says Washington will not accept any conditions around the US use of tariffs in trade talks.
- Bitcoin racks $12k to reach its highest level since January 2018.
- The US dollar remains supported after comments from Powell and Bullard were perceived as less dovish than feared. The weak lead from Wall Street also weighed on Asian equity markets early on.
- NZD is the strongest major after RBNZ held rates and provided only a slightly dovish statement. Still, it paves the way for an August cut with key employment and inflation data arriving just ahead of their next meeting.
- Slight improvement to risk appetite saw gold fall -1.3%, currently its most bearish session in 3 months. USD/CNH nudged its way up to a 5-day high. JPY is the weakest major.
- China has suspended Canadian meat imports from select companies with immediate effect.
- A Senior administration official says Washington will not accept any conditions around the US use of tariffs in trade talks.
- Bitcoin racks $12k to reach its highest level since January 2018.
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
AUD/USD hammered by US yields and fading RBA hike bets
US yields, dollar strength and fading RBA hike bets have combined to drive AUD/USD to fresh multi-month lows. The macro and technical bias remains bearish, although history suggests parts of the move are now reaching unusually stretched levels.
Japanese Yen Outlook: USD/JPY, GBP/JPY, AUD/JPY Setups
USD/JPY and GBP/JPY show signs of stabilising, while AUD/JPY remains vulnerable as yen crosses deliver mixed technical signals.
EUR/USD Forecast: Euro Struggles to Find Support Even After U.S. PCE Data
The euro continues to face a challenging environment in the short term. The currency has struggled to regain ground against a U.S. dollar that remains firmly supported, a dynamic reflected in EUR/USD, which has now recorded three consecutive losing sessions and a decline of roughly 0.6%.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.