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Thread: EUR USD

  1. #631
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    AUD/USD and NZD/USD Fundamental Weekly Forecast – RBA Minutes, New Zealand GDP on Tap This Week

    The Australian and New Zealand Dollars could start the week under pressure due to reports of additional U.S. tariffs on China. The Wall Street Journal reported Saturday, citing individuals familiar with the matter that President Trump is planning to impose a fresh round of tariffs targeting about $200 billion in Chinese goods.
    The Australian and New Zealand Dollars rose last week. The currencies were driven higher by a weaker U.S. Dollar. The catalysts behind the bullish price action were optimism over U.S.-China trade relations and weaker-than-expected U.S. producer and consumer inflation data.
    For the week, the AUD/USD settled at .7155, up 0.0049 or +0.69% and the NZD/USD finished at .6546, up 0.0012 or +0.19%.
    The Aussie was also supported by strong domestic employment data. The government reported the Australian economy added 44,000 jobs in August in seasonally adjusted terms, well above forecasts of an 18,000 gain. Overall participation levels edged higher, which left the unemployment rate steady at 5.3%. Quarterly data on the underemployed, fell by 0.3% to 8.1%.
    The good news helped drive up Australian bond yields which made the Australian a more attractive investment, at least temporarily. However, it was not good enough to sway Reserve Bank of Australia policy. The fall in underemployment is considered a positive sign, but the RBA is waiting for consistent growth in wages before it will consider a rate hike.
    The AUD/USD and NZD/USD gave back some of its gains on Friday in reaction to rising U.S. Treasury yields ahead of a widely expected Fed rate hike later this week. The price action was driven by upbeat U.S. retail sales and consumer confidence reports. A report that President Trump told his aides to proceed with tariffs on about $200 billion worth of Chinese imports also rattled investors.
    Read more:https://www.xtreamforex.com/academy/...orex-forecast/




  2. #632
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    Bitcoin – Bitcoin Bucks the Trend Early. Will Institutional Money Help?
    Bitcoin sees red early, giving gains from the start of the day. A move back through to $6,500 will be a must to support an afternoon rebound.
    Bitcoin bucked the trend across the broader market by ending in the red on Sunday, with a 0.2% fall that partially reversed Saturday’s 0.5% gain. Bitcoin ended the week at $6,500, gaining 3.92% to partially reverse the previous week’s 14.3% slide.
    A choppy start to the day saw Saturday’s late in the day reversal continue into the early hours of Sunday, with Bitcoin falling through the day’s first major support level at $6,461.47 and second major support level at $6,410.23 to an intraday low $6,370.2 before recovering back to $6,500 levels.
    Through the 2nd half of the day, Bitcoin slid through the first major support level at $6,461.47 to an afternoon low $6,413.8 before breaking back through to $6,500 levels by the day’s end.
    While the news wires were relatively silent through the weekend, supporting the net gains for Bitcoin and the broader market, focus is beginning to shift to the next phase of the cryptomarket movement, institutional money.
    For now, Bitcoin continues to be touted as the primary beneficiary, which looks to be an accurate assessment, with financial institutions recently announcing plans to provide their clients with products to gain Bitcoin exposure, the announcements coming in the wake of Goldman Sachs’ decision to hit pause on launching its Bitcoin desk.
    Whether the influx of institutional money will lead to a resurgence of Bitcoin’s dominance remains to be seen, though the reality is that such a limited product offering to an asset class will likely see existing cryptocurrency investors shun altcoins in favour of Bitcoin, drawn by the anticipated inflow of institutional money.
    Does that mean that the cryptomarket is still some way off performing based on product offering and success in the real world?
    It would certainly seem so. The focus on Bitcoin seems little different to banks offering a single stock such as Alphabet Inc. to their institutional clients in place of a full listing of U.S equities, though with one distinct difference. Bitcoin’s perceived success as an alternative to fiat money is limited at best, with other true cryptocurrencies offering far more competitive transaction speeds and fees that could ultimately topple the likes of PayPal and even Visa. Alphabet Inc. on the other hand is the parent of Google.
    Read more:https://www.xtreamforex.com/academy/...currency-news/

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