Trump delayed tariffs due to pressure from US businesses while US-China trade talks continue to show no progress. Gold could resume its uptrend.
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After the surprise cut of 50bps, RBNZ Gov Orr hinted at negative rates amid worsening trade conflict and darkening global outlook. NZD/JPY could head towards 65.30.
RBNZ could hint that they are looking for further easing amidst escalation of the US-China trade war. NZD/JPY could fall further.
Chief Strategist Jimmy Zhu discusses in this CGTN report why the US Treasury department’s decision to label China as a Forex manipulator is a symbolic move without much implication.