AUD/USD Outlook Mired as IMF Adds to RBAs Verbal Intervention
AUD/USD remains at risk of facing further headwinds as the IMF attempts to talk down the aussie and sees scope for another RBA rate cut.
GBP Gains from GDP Report, BoE Rate Hopes - USD to Follow on FOMC?
The two currencies whose central banks are closest to raising rates are in the midst of an important few days.
Pound May Rise as 2Q UK GDP Data Boosts BOE Rate Hike Bets
The British Pond may rise as a pickup in second-quarter UK GDP growth boosts Bank of England interest rate hike speculation.
Commodities Recover As China Assures Stock Market Support
Copper cut losses in morning Asia trade after hitting six-year low yesterday in fears of a breakdown in China demand following stock market rout. Oil also stabilized although it entered bear market.
GBP/USD Risks Near-Term Breakout on Strong 2Q U.K. GDP Report
A pickup in 2Q U.K. GDP may spur a near-term breakout in GBP/USD as signs of a stronger recovery put increased pressure on the BoE to normalize monetary policy.