Trump delayed tariffs due to pressure from US businesses while US-China trade talks continue to show no progress. Gold could resume its uptrend.
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.
China is likely to retaliate if the tariffs were to go into effect, which could cause funds to flow into safe havens. Gold could resume its uptrend.
Odds of a no-deal Brexit increased after PM Johnson said he will not meet EU leaders unless they shift their Brexit position. With GBP/USD hitting a 2016 low, we could expect some retracement after Fed cuts rates this week.
With Boris Johnson’s “do or die” commitment to leave the EU by the hard deadline of 31st October, a no-deal Brexit seems highly probable. Sterling could weaken across the board.