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Aussie is Under pressure of UsDFor more T.me/venusfx The Australian and New Zealand Dollars finished lower last week, weighed down by lingering domestic issues. A plunge in U.S. Treasury yields on Friday drove the U.S. Dollar lower, lending a little support to the beat up Aussie and Kiwi, while helping to reduce some of their earlier losses in the week. Looking ahead, escalating tensions between the United States and China could keep a lid on the Australian and New Zealand Dollars. Last week, the AUD/USD settled at .6756, down 0.0027 or -0.40%, and the NZD/USD closed at .6396, down 0.0029 or -0.45%. The Aussie received a boost early in the week when the Reserve Bank of Australia (RBA) Monetary Policy Minutes showed policymakers were willing to “wait and see” how the economy does after a pair of rate cuts in June and July. This helped reduce the chances of a September rate cut. The New Zealand Dollar drifted lower all week until Friday. The selling pressure was enough to take out the August 7 bottom that was reached after the Reserve Bank of New Zealand (RBNZ) shocked the markets with an unexpected 50-basis point rate cut. The kiwi jumped from a three-and-a-half-year low after RBNZ Governor Adrian Orr said he was “pleased” with where interest rates were, dampening expectations of another rate cut in September. Looking at the bigger picture, President Trump triggered a steep break in the U.S. Dollar when he tweeted, “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.” The move by the greenback indicates there are increasing concerns that Trump’s latest comments will push the U.S. economy into a recession. Although the biggest reaction in the markets was to Trump’s tweet, remarks from Federal Reserve Chairman Jerome Powell did put some pressure on the dollar due to their dovish nature. Powell did not announce a major stimulus measure to ease concerns over a slowdown in global economic growth, but did prepare investors for further interest rate cuts. Powell acknowledged the U.S. economy was in a “favorable place” and the Fed would “act as appropriate” to keep the current economic expansion on track.
Short
by Venusfx
Gold is Bullish After consolidating for two weeks on below average volume and volatility, gold futures finished higher last week and in a position to challenge a six-year high after U.S. Treasury yields plunged and equities plummeted on increased fears of a U.S. recession. To a lesser degree, Fed Chairman Jerome Powell fueled some of the rally with dovish comments, however, most traders will agree it was the action of President Trump that triggered the biggest reaction in the gold market. Last week, December Comex gold futures settled at $1537.60, up $14.00 or +0.92%. Powell Set Early Bullish Tone Federal Reserve Chairman told global investors on Friday the Fed is prepared to act to sustain the more than ten year recovery. Powell said the Fed stands ready to do whatever it takes to support the record-long U.S. economic expansion, while stating that international developments are weighing most heavily on the Fed’s decisions. “Based on our assessment of the implications of these developments, we will act as appropriate to sustain the expansion,” Powell said at the central bankers’ symposium in Jackson Hole, Wyoming. Powell also acknowledged Fed policymakers have a limited toolbox in how it can respond to an ongoing trade war with China, noting that monetary policy is a “powerful” but not universal tool. Nonetheless, the Fed chief provided no clear indication of whether the Fed plans to meet the market’s demand for a 25-basis point rate cut in September and as many as four more over the next 12 months in an effort to continue the expansion and defend the U.S. against a recession. Powell also said uncertainty caused by Trump’s tariffs on China and other trading partners is the major risks the Fed is monitoring. He also acknowledged that since the Fed’s first rate cut in ten years on July 31, market conditions “have been eventful, beginning with the announcement of new tariffs on imports from China,” he said. Trump’s Comments Spike Prices Higher After China retaliated with fresh tariffs and Fed Chairman Jerome Powell calmed the markets by seemingly opening the door to further rate cuts by saying the central bank stands ready to do what is necessary to support the record-long U.S. expansion on Friday, President Trump lit up the Twitterverse with a series of scathing tweets criticizing the Fed, Jerome Powell and China. But this time, he didn’t stop there, he took action that triggered a steep break in the stock market, while spiking demand for safe-haven assets. Trump’s series of tweets damaged investor confidence in the economy, driving the major indexes sharply lower, with their fourth consecutive weekly loss. The blue chip Dow dropped about 1% this week while the benchmark S&P 500 pulled back 1.4%. The tech-based NASDAQ Composite Index lost 1.8%. The plunge in the stock market set off a flurry of activity in the safe-haven markets. U.S. Treasury yields fell. Also, the yield curve inverted briefly again on Friday, but was mostly flat throughout the day. Gold surged 2% with some of the gains attributed to Powell’s dovish remarks. The Japanese Yen rose to a one-week high. Weaker Dollar Drives Up Demand for Dollar-Denominated Gold The U.S. Dollar plunged against a basket of currencies last week, falling from a three-week high, after President Donald Trump ordered U.S. companies to start looking for an alternative to China. The move took place in response to Beijing imposing more tariffs on American goods, further escalating tensions between the two economic powerhouses in a prolonged trade dispute. A weaker dollar drives up demand for dollar-denominated assets like gold. Weekly Forecast The week’s important U.S. economic reports are Durable Goods, Conference Board Consumer Confidence, Preliminary GDP and Personal Spending. Preliminary GDP is expected to come in at 2.0%, down from the first estimate of 2.1%. This is the major report in my opinion because this will let investors know how much closer the economy has moved toward a recession. Remember, the classic definition of a recession calls for 2 consecutive quarters of negative economic activity. On Friday, after Trump’s initial Twitterstorms, the President announced that Washington will impose an additional 5% duty on Chinese goods. Trump said the United States would raise its existing tariffs on $250 billion worth of Chinese imports to 30% from the current 25% beginning on October 1, the 70th anniversary of the founding of the communist People’s Republic of China. At the same time, Trump announced an increase in planned tariffs on the remaining $300 billion worth of Chinese goods to 15% from 10%. The United States will begin imposing those tariffs on some products starting September 1, but tariffs on about half of those goods have been delayed until December 15. Given China’s retaliatory tariffs on Trump’s August 1 tariffs and the gold market’s reaction, we have to expect China to hit the U.S. with a countermeasure that could send gold prices even higher.
FX:XAUUSDLong
by Venusfx
Bitcoin Price Bounces Back Near $10K But Analysts Aren’t ConvincBitcoin (BTC) was challenging the $10,000 barrier again on July 18 after a modest uptick broke up several days of losses *A sea of green for Bitcoin and altcoin* Data from Coin360 showed BTC/USD hovering just below the significant marker Thursday, circling $9,900 on the back of 2.9% gains over the past 24 hours. The pair had encountered difficulties over the week, declining from near $11,000 to hit local lows close to $9,000. Analysts immediately sounded the alarm about a possible sentiment change for Bitcoin, but found it hard to reach consensus about whether the price declines were part of a long-term bearish trend. “Bitcoin had a nice bounce that tapped the previous 4hr chart low and I honestly think it needs to push up more before continuation down,” investor and trader Josh Rager wrote in his most recent daily Bitcoin price update on Twitter late Wednesday. Rager added that if Bitcoin breaks above $9,830 — which is subsequently did — resistance would in fact come into play slightly beyond $10,000, at between $10,192 to $10,342. Longer term, the picture is more uncertain for some, with veteran trader Peter Brandt even forecasting an 80% correction in overall cryptocurrency market cap gains seen this year. Altcoins suddenly wake up Bitcoin’s negligible shift to the upside meanwhile appeared to have a more profound impact on altcoin markets, which had long failed to halt their own declines. Many tokens in the top 20 cryptocurrencies by market cap showed improved performance Thursday, with Ether (ETH) gaining 6.1% to hit $217. Litecoin (LTC) led the top performers with 15% daily gains, while the embattled Bitcoin SV (BSV) also achieved double-figure growth. Previously, bearish warnings had appeared — specifically from Brandt — suggesting altcoin markets would not recover at all after Bitcoin’s gains eclipsed them in 2019.
COINBASE:BTCUSD
by Venusfx
Eurusd Returned Back in Down Wave What Next?Hi guys, as over previous setup worked very well on eurusd as over other posts,what we see here next is that the pair may head a little more down from now so be ready to see some more downward moves in upcoming time. Location : Eurusd H4 chart BEst OF Luck "Trade At your Own Risk" If you you want to learn how we do it just Dm Us Here Or Any Other of Over SocialMedia PlatForm Like Insta (venusfx9) Fb(Forexvenus) WhatsApp(ask in Dm), And Start Earning Through over 07 Years Of Market Robust Knowledge by learning From Us And Shortern you learning period.
Short
by Venusfx
CADJPY Just Kicked Down The Wedge Whats NExt?Hi, Guys What I am Seeing In This Pair is that it Will Pretty Nearly Go Down In The Next Week So Lets See And Be Ready!! Location : CadJpy H1 BEst OF Luck "Trade At your Own Risk" If you you want to learn how we do it just Dm Us Here Or Any Other of Over SocialMedia PlatForm Like Insta (venusfx9) Fb (Forexvenus) WhatsApp(ask in Dm ), And Start Earning Through over 07 Years Of Market Robust Knowledge by learning From Us And Shortern you learning period.
Short
by Venusfx