Summary
The UK voted to leave the EU in a shocking decision. We explain what happened, how the pound collapsed 1700 pounds and reached levels last seen in 1985. We also look at how how other currencies suffered and the various reactions across the board. We also look forward to the next events, the potential implications for the Fed, European politics and various other potential ramifications.
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EUR/USD stays weak near 1.0700 after German GDP data
EUR/USD is keeping the red near 1.0700 as investors await inflation and growth data for the Eurozone. The data from Germany showed that the GDP contracted at an annual rate of 0.2% in Q1 as expected, not allowing the Euro to attract investors.
GBP/USD remains pressured toward 1.2500 on US Dollar rebound
GBP/USD is extending losses toward 1.2500 in European trading on Tuesday. A cautious risk tone and a decent US Dollar comeback weigh negatively on the pair. The focus now shifts to mid-tier US data amid a data-light UK docket.
Gold price remains depressed near $2,320 amid stronger USD, ahead of US macro data
Gold price (XAU/USD) remains depressed heading into the European session on Tuesday and is currently placed near the lower end of its daily range, just above the $2,320 level.
BNB price risks a 10% drop as Binance founder and ex-CEO Changpeng Zhao eyes Tuesday sentencing
Binance Coin price is dumping, with the one-day chart showing a defined downtrend. While the broader market continues to bleed, things could get worse for BNB price ahead of Binance executive Changpeng Zhao sentencing on Tuesday, April 30.
Data fuels China optimism
China's factory activity has expanded for a second consecutive month, marking the best streak in over a year and fueling optimism for the sustainability of the world's second-largest economy's recovery.