{"id":151951,"date":"2019-07-22T12:02:15","date_gmt":"2019-07-22T16:02:15","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151951"},"modified":"2019-07-22T12:02:15","modified_gmt":"2019-07-22T16:02:15","slug":"safe-havens-lag-as-tensions-take-their-toll","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/safe-havens-lag-as-tensions-take-their-toll\/","title":{"rendered":"Safe Havens Lag As Tensions Take Their Toll"},"content":{"rendered":"
July 22, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Kiwi Leads Risk Assets On Positive Global Developments<\/strong><\/h1>\n

High-risk assets<\/strong>\u00a0including the New Zealand and Australian dollar\u00a0continue to trade on good footing on <\/strong>Monday, rolling on from last week\u2019s strong economic data.<\/p>\n

Kiwi pushes higher<\/strong>\u00a0in an attempt to break last weeks high of 0.6783, whereas\u00a0Aussie, a little lagging<\/strong>, telegraphs some of this sentiment, albeit higher up than the 70c. mark.<\/p>\n

Meanwhile, of all commodity pairs, the\u00a0Canadian dollar came under pressure only recently<\/strong>\u00a0as oil bulls seem to be taking some profits off the markets. USDCAD could be heading for a fresh multi-day high provided the oil slide continues.<\/p>\n

Pound Lower As Markets Price In Borris Win<\/strong><\/h1>\n

The British pound is the\u00a0worst performer<\/strong>\u00a0so far on Monday. The possibility of a no-deal with Boris\u2019 leadership and increased tensions between the UK and Iran pushed GBPUSD down to $1.2450 from a daily high of $1.2518.<\/p>\n

The pound is likely to be\u00a0affected by the PM race results.<\/strong>\u00a0This is because\u00a0there are no major economic updates<\/a>\u00a0for the week. Sentiment could continue like this until the end of the week.<\/p>

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Dollar Positively-Biased Ahead of NY Open<\/strong><\/h1>\n

The US Dollar is a little quieter than expected at the start of the week as market participants shift their\u00a0focus towards central bank rhetoric.<\/strong>\u00a0 Regardless of little change in sentiment, the index trades a tad higher on the day. This is a result of last Friday\u2019s\u00a0upbeat consumer sentiment<\/strong>\u00a0figures and spurred by Fed\u2019s Bullard comments against aggressive rate cuts.<\/p>\n

USDJPY, however, is quite upbeat on the day as\u00a0safe havens seem to be affected by increased risk appetite.\u00a0<\/strong>This can be attributed\u00a0to renewed tensions between the UK and Iran.<\/p>\n

The\u00a0Swiss franc and gold are weaker<\/strong>\u00a0as well. However, this has not been channeled through the markets as much as with the yen.<\/p>\n

Equities Higher As Rate Cuts Still On The Table<\/strong><\/h1>\n

Despite markets discounted some of the aggressiveness Fed\u2019s Williams signaled markets should expect, the\u00a0chances of a rate cut have not decreased to a hold.<\/strong><\/p>\n

This allows equities markets to remain upbeat.\u00a0SPX is trading higher near 2985. This follows along with expectations that this week\u2019s corporations are going to report good earnings.<\/p>\n

Euro Muted Ahead of ECB Meeting<\/strong><\/h1>\n

Euro is\u00a0fairly muted<\/strong>\u00a0against the dollar and other currencies as uncertainty around policy sets the tone. The pair trades within a limited trading range but\u00a0remains above the psychological $1.12<\/strong>.<\/p>\n

EURUSD is likely to remain indecisive before the\u00a0upcoming ECB decision on Thursday<\/a>. Nevertheless, it is possible the range level could shift to the downside.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Kiwi Leads Risk Assets On Positive Global Developments High-risk assets\u00a0including the New Zealand and Australian dollar\u00a0continue to trade on good footing on Monday, rolling on from last week\u2019s strong economic data. Kiwi pushes higher\u00a0in an attempt to break last weeks high of 0.6783, whereas\u00a0Aussie, a little lagging, telegraphs some of this sentiment, albeit […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-151951","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=151951"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151951\/revisions"}],"predecessor-version":[{"id":151958,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151951\/revisions\/151958"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=151951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=151951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=151951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}