Trump and UK Employment Numbers can create volatility
It’s a big day for the pound, with UK data coming out, including June unemployment and wage growth figures along with July claimant count numbers. A possible scenario is for the popular GBPUSD pair to face volatility.
The Demand for USD drives Gold further down
Investors are flirting with safe haven currencies and USD amid Turkish Crisis as precious metals continue to lose ground. Gold prices continued to fall after the third session on Monday, while the greenback climbed to more than a year high versus major pairs. Spot Gold XAUUSD fell almost 245 pips since yesterday breaking key support at 1206.3 level.
Bitcoin – As the Market Tumbles Bulls lose confidence
Bitcoin drops below $6,000 level from July for the first time and this could worsen. On Monday the popular coin fell more than 1% creating more fear in the crypto world. The recent SEC’s decision to delay some key Bitcoin ETF approvals was the catalyst to ignite the uncertainty in the market.
Turkey flu infects Europe and drives EURUSD lower
The Turkish lira’s collapse spread its toxic sentiment to the European and EM financial markets. The lira gave up almost 11% to 7.11 per USD since Monday. It has now somewhat stabilized after the Minister of Finance said that the Turkish government is working on a plan to ease the current situation.