AUD/USD dips below 0.6750 amid China worries-driven risk aversion

AUD/USD dips below 0.6750 amid China worries-driven risk aversion

AUD/USD is losing ground below 0.6750 in the Asian session on Tuesday. The US Dollar rebounds alongside the USD/JPY pair, undermining the pair. China's economic concerns-driven risk-off mood also weighs on the higher-yielding Aussie. US Retail Sales data and Fedspeak eyed. 

AUD/USD News

USD/JPY stretches beyond 158.50, awaits US Retail Sales data

USD/JPY stretches beyond 158.50, awaits US Retail Sales data

USD/JPY is extending gains above 158.50 in Asian trading on Tuesday. Despite risk aversion and the Fed-BoJ policy divergence, the Japanese Yen is under intense selling pressure against the US Dollar. Traders eye more cues from the US Retail Sales data and Fedspeak before placing fresh bets. 

USD/JPY News

Gold price bulls retain control despite modest USD strength, risk-on environment

Gold price bulls retain control despite modest USD strength, risk-on environment

Gold price remains close to a nearly two-month top set on Monday amid rising Fed rate cut bets. Investors seem convinced that the Fed will begin its rate-cutting cycle at the September meeting. The risk-on mood, along with a modest US Dollar strength, might cap the upside for the XAU/USD. 

Gold News

Ethereum ETFs to launch next Tuesday. Here’s why ETH's price could be set to explode

Ethereum ETFs to launch next Tuesday. Here’s why ETH's price could be set to explode

Ethereum is up more than 7% on Monday following updates from Bloomberg analysts that the SEC would potentially greenlight spot ETH ETFs to launch next week Tuesday. The increased inflows across global Ethereum investment products also align with the new development.

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Trading the week ahead

Trading the week ahead

This week presents several high-probability opportunities to closely monitoring. The Canadian CPI print is one of the main events. The Bank of Canada has expressed concern about the impact of higher interest rates on mortgage holders, with about 50% yet to remortgage. 

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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 gathers pace to retest all-time high at $2,450 Premium

Gold gathers pace to retest all-time high at $2,450

Gold price is looking to extend previous gains early Tuesday, having clinched a new two-month high at $2,440 a day ago. Growing expectations that a US Federal Reserve (Fed) interest-rate cut in September is a done deal continue to underpin the non-interest-bearing Gold price.

Gold price capitalizes on Fed rate cut bets

Fed Chairman Jerome Powell’s comments affirmed bets for a rate reduction in September after he said Monday that the central bank will not wait until inflation hits 2% to lower interest rates. The Fed is looking for “greater confidence” that inflation will return to the 2% level, Powell added.

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CRYPTOCURRENCIES

Ethereum ETFs to launch next Tuesday. Here’s why ETH's price could be set to explode

Ethereum ETFs to launch next Tuesday. Here’s why ETH's price could be set to explode

SEC preparing Ethereum ETFs to launch next week Tuesday after asking issuers to return final S-1s, says Bloomberg analyst. Ethereum investment products raked in $72 million in inflows, its highest level since March.

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Could US become most crypto-friendly nation following Trump's VP pick?

Could US become most crypto-friendly nation following Trump's VP pick?

Crypto community shows high enthusiasm following Donald Trump's choice of JD Vance as his running mate. Vance has been vocal in supporting crypto, holding a portion of Bitcoin and voting against the SAB 121. 

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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.

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Traditional investors continue to bet big on crypto despite recent market drawdown

Traditional investors continue to bet big on crypto despite recent market drawdown

CoinShares’ report on Monday showed that crypto ETFs experienced over $1.44 billion in net inflows last week as most traditional investors saw the market drawdown as a potential buy-the-dip opportunity.

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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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