Singapore is preparing for the worst, Hong Kong protests are upsetting businesses, & Global economic chaos leads to a rise in oil.
After some of the worst economic data in years prompted warnings that a recession may be looming, Singapore’s government stands ready to stimulate the economy, Prime Minister Lee Hsien Loong said on Thursday. Affects SGD
Conglomerate Swire Pacific has said they are having a direct and indirect impact on demand on a number of its businesses, becoming the latest major Hong Kong company to voice concern about the impact of protests in the city on business activity. Affects Hang Seng
Expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions Oil jumped more than $1 a barrel on Thursday on. Affects Brent
Food giant Nestle on Thursday started selling Starbucks-branded coffee in mainland China, seeking to tap growth in a market where consumption is low compared to global standards. Affects Starbucks
Saudi Arabia told Reuters on Thursday, it will relax its bug-damage specifications for wheat imports from its next tender onwards, opening the door to Black Sea imports and strengthening ties with Russia beyond energy cooperation. Affects RUB
The British GDP (YoY) for Q2 will be published. It is the broadest measure of economic activity and the primary indicator of the economy’s health. Affects GBP.
The Russian ruble may react sharply to the weakness of the oil market. If the exporters of raw materials do not urgently agree to lower production volumes, and the U.S. and China cannot reconcile their trade war, the cost of raw materials will go down. Following it, the ruble.
We expect asset growth. If quotes rise above 65.6, more traders will buy USD/RUB.
We continue trying to understand the situation with this asset. Quotes fell below 1.80000. The new downtrend may continue to 1.76000.
Quotes should continue to go up after the break through of the base-level of the figure Head and Shoulders.
AUD/USD on this day in history
- Since 2000 August 9th has been a trading day 14 times.
- On 50% of those days, the asset ended with growth.
- The maximum reinforcement range was 1.59%.
- The trend down was limited to 1.48%.