• A risk off session in Asia saw gold and JPY strengthen and weigh on USD.
  • Trump placed sanctions on Iranian supreme leader and top officials. Iran says the sanctions mean the diplomatic path has closed forever.
  • Ahead of the G20, a senior official claims Trump said Trump is “comfortable with any outcome” from talks with Chinese President Xi Jinping.
  • Gold burst to a 6-year high with little in the way of resistance coming from the 2013 high. USD/JPY fell to its lowest level since January’s flash crash. Asian equities broadly lower, led by Hang Seng 1400 and China’s CSI300. US futures all point lower.
  • NZD and JPY are the strongest majors, CAD, AUD and USD are the weakest.

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Editors’ Picks

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.

EUR/USD News

GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.

GBP/USD News

USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.

USD/JPY News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

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