AUD/USD consolidates in a range above mid-0.6700s

AUD/USD consolidates in a range above mid-0.6700s

AUD/USD holds steady above mid-0.6700s during the Asian session on Tuesday. The US Dollar languishes near a three-month low touched on Monday. Apart from this, the prevalent risk-on environment, bets that the RBA could be raising interest rates again and hopes for more stimulus from China lend support to the pair.

AUD/USD News

USD/JPY attracts some buyers above 158.00, investors await US Retail Sales data

USD/JPY attracts some buyers above 158.00, investors await US Retail Sales data

USD/JPY trades on a stronger note around 158.30 on Tuesday during the early Asian trading hours. The uptick of the pair is bolstered by the modest rebound in US Dollar. Investors will take more cues from the US June Retail Sales and the speech from the Federal Reserve’s Adriana Kugler.

USD/JPY News

Gold price holds comfortably above $2,400 amid September Fed rate cut bets

Gold price holds comfortably above $2,400 amid September Fed rate cut bets

Gold price is seen consolidating in a range during the Asian session on Tuesday. Growing acceptance that the Fed will start cutting interest rates in September keeps the US Dollar close to over a three-month low and continues to offer support to the non-yielding yellow metal. The upbeat market mood is seen acting as a headwind for the safe-haven precious metal.

Gold News

Meme coins soar in double-digit gains as PEPE, WIF, FLOKI, MOG lead the charge

Meme coins soar in double-digit gains as PEPE, WIF, FLOKI, MOG lead the charge

Meme coins are leading the crypto market again as the ripple effect of Bitcoin's recovery is flowing across major crypto categories. PEPE, WIF, FLOKI and MOG are at the forefront of the recovery, elevating their daily performance above the 20% mark on Monday.

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The Trump trade

The Trump trade

The US markets may have had a mild reaction to the assassination attempt on Donald Trump at a rally in Pennsylvania at the weekend, however, there are long term ramifications for financial markets, particularly in Europe.

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The geopolitical influence on global trade

The geopolitical influence on global trade

Geopolitics have been top of mind over the past few years as geopolitical developments have, at times, rattled financial markets and disrupted global economic activity. So far, geopolitical events have only caused temporary bouts of market volatility and activity disruptions.

Will debt sink the American empire?

Will debt sink the American empire?

Will Debt Sink the American Empire?" So asks the Wall Street Journal, in an uncharacteristically gloomy article for the bull market's paper of record. They kick off with the problem: America is "cruising" into an uncharted sea of federal debt, with a government seemingly incapable of turning it around.

Despite import decline, net exports to slice Q2 real GDP growth

Despite import decline, net exports to slice Q2 real GDP growth

The U.S. international trade balance worsened for the second straight month in May, leaving the deficit at its widest position since late 2022. A resilient domestic U.S. economy and steady dollar strength are supportive of a widening deficit this year. 

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Gold: XAU/USD on its route to retest record highs at $2,450 Premium

Gold: XAU/USD on its route to retest record highs at $2,450

Gold price extends gains above the $2.400 mark, approaching its all-time high of $2,449.92. XAU/USD shed some ground at the beginning of the day amid resurgent US Dollar demand on the back of weekend news. Former President and current Republican candidate Donald Trump suffered an assassination attempt while on campaign in Pennsylvania, a headline that initially spurred risk-aversion.

However, the Greenback quickly lost ground as investors lifted bets that Trump could win the upcoming presidential election and loosen the fiscal policy. Meanwhile, Moody’s Credit Rating Agency said the Federal Reserve (Fed) could begin easing the monetary policy as soon as this month, as the central bank is scheduled to meet on July 30-31. Furthermore, analysts at Moody’s expect the   Fed Funds Rate to be reduced by 50-75 bp in 2024 and another 100-125 bp through 2025. As a result, stock markets rallied, and Wall Street hit record highs.

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CRYPTOCURRENCIES

Crypto Today: Bitcoin, Ethereum and XRP what to expect as SEC executive says Howey test applies to cryptos

Crypto Today: Bitcoin, Ethereum and XRP what to expect as SEC executive says Howey test applies to cryptos

Bitcoin trades above $62,500 on Monday, sustains above key support as head of US SEC enforcement division says Howey test applies to cryptos. Ethereum and XRP trade above key support, extending gains by nearly 3% on the day. 

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Ripple whales buy hundreds of millions of XRP tokens as the altcoin rallies

Ripple whales buy hundreds of millions of XRP tokens as the altcoin rallies

Ripple (XRP) noted the highest weekly gains in 2024 over the weekend as XRP holders celebrated the one-year anniversary of Judge Torres’ ruling in the SEC vs. Ripple lawsuit. XRP rallied to a peak of $0.5661 on Saturday, July 13. 

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Bitcoin surges past $60,000 as ETFs report $1.04 billion inflows last week

Bitcoin surges past $60,000 as ETFs report $1.04 billion inflows last week

Bitcoin breached above the descending trendline on Sunday and trades 3.5% up at $62,924 at the time of writing on Monday. On-chain data indicates a decrease in miners' selling activity, complemented by US spot Bitcoin ETFs recording $1.047 billion in inflows last week. 

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JasmyCoin price surges following partnership with NOWPayments

JasmyCoin price surges following partnership with NOWPayments

JasmyCoin price breaks above a descending channel, signaling a break in market structure from bearish to bullish. NOWPayments announces its partnership with JASMY in Japan. JASMY featured in a Forbes article for coins outperformed Bitcoin in the first half of 2024.

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THE STOCK OF THE DAY

QS shares blast off 17% in second day of Volkswagen production rally Premium

QS shares blast off 17% in second day of Volkswagen production rally

QuantumScape (QS) stock is refusing to fade on Friday after its 30% Thursday session spike with shares of the automotive battery maker adding another 17% at the time of publication. 

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WEEKLY FORECAST

EUR/USD: The door appears open to extra gains in the near term Premium

EUR/USD: The door appears open to extra gains in the near term

Another auspicious week saw EUR/USD trade with decent gains and extend its positive streak for the third consecutive week, including a visit to the key 1.0900 region for the first time since early June.

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GBP/USD: Pound Sterling awaits high-impact UK data for further upside Premium

GBP/USD: Pound Sterling awaits high-impact UK data for further upside

The Pound Sterling hit a new 2024 top above 1.2950 against the US Dollar. GBP/USD looks to UK inflation and jobs data for a fresh leg higher. The daily technical setup continues to favor Pound Sterling buyers.

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US Dollar: Check the king! Premium

US Dollar: Check the king!

The selling pressure in the FX world continued to punish the Greenback this week, sending the USD Index back to the 104.00 region, or multi-week lows, against the backdrop of the strong pick-up in expectations surrounding the timing of the start of the Fed’s easing cycle.

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Gold: Turns bullish as US data bolster case for Fed rate cut in September Premium

Gold: Turns bullish as US data bolster case for Fed rate cut in September

Gold gathered bullish momentum and climbed above $2,400 on broad-based USD weakness. Investors expect the Fed to reduce the policy rate in September after soft inflation data. 

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Bitcoin: Investors wonder if BTC troubles are behind

Bitcoin: Investors wonder if BTC troubles are behind

Bitcoin (BTC) stabilized around the $57,000 mark this week, while the German Government persists in transferring Bitcoin to exchanges. Concurrently, US spot Bitcoin ETFs have recorded inflows.

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Week ahead – ECB set to hold rates, plethora of data on the way

Week ahead – ECB set to hold rates, plethora of data on the way

ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States. UK CPI report will be vital for BoE’s August decision. China GDP data to kickstart busy week.

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