Westpac lowering their expectations for the New Zealand dollar citing familiar (by now) reasons: Those first two points are also applicable to the AUD, and on the third there are arguments to lean that way also (but applied to the NZD they are stronger, hence the underperformance of the kiwi against the aussie)
I posted much earlier on re tweets from Fahrettin Altun, Communications Director, Turkish Presidency He is a spokeman for President Erdogan His earlier tweets were in Turkish (I translated them ….. h/t to Google Translate not my language teachers (and my lazy self) back in school 😉 )
Modest rebound Yesterday, the GBPUSD fell below a trend line on the daily chart. Today the underside of that trend line was tested at the highs. The level held and the price continued the move lower (see daily chart below).
Love doesn’t pay the bills Meanwhile the Istanbul Chamber of Commerce is calling for urgent measures on the currency, saying it’s at a point where it’s forcing the quality of balance of payments. The meaning there is that it’s tough to get anything done when the currency is moving 1% minute to minute.
Lets see what he comes up with next So far the strategy of begging people to buy the lira isn’t working. USD/TRY is at 6.37. ForexLive
USD is attacting flows too The JPY and the USD are both attracting flows as there are a lot of global concerns, stocks are weak and yields are lower. The AUD and the EUR are the weakest. The AUDUSD broke to the lowest levels since January 2017 and the EUR is under pressure from concerns…
Comments from China’s central bank The comments are in the Q2 monetary policy implementation report. USD/CNY: ForexLive
Broadly unchanged JOLTS, CPI and PPI were the only new inputs this week and they didn’t have much effect. ForexLive
Tests July 2017 lows and near the low for the year today and bounces. But rise is limited. Those topics can be thought as risky events and in the old days, might have led to flights into the safety of the gold.
First test stalled the fall The EURGBP is moving toward support defined by its 50% of the recent move higher and the 200 hour MA at 0.8936 -0.89417 area. The low just reached 0.8943.