Traders Debate: US-China Trade War, Forex Forecasts & More | Podcast
Talking points on this podcast:
- US/China trade war: What now for EUR/USD?
- GBP/USD’s future as the Brexit dialog continues
- Is Bitcoin finally maturing as a market?
This time on Trading Global Markets Decoded, our host Martin Essex is joined by DailyFX analysts Nicholas Cawley and David Cottle, based in the UK and Singapore respectively. On the agenda this time: The latest on the US-China trade war and EUR/USD, the outlook for GBP/USD as the Brexit dialogue continues, and insight on a range of asset classes, from Crude oil to Bitcoin. You can listen to this podcast with Nick Cawley and David Cottle by clicking on the link above or one of the alternative platforms listed below.
Traders debate market forecast for forex, gold, crude oil, Bitcoin
Where is the most-traded pair, EUR/USD headed? Nick says: ‘Lower for longer. The upside is very limited for the Euro as a currency. The only way EUR/USD will go up is if the US Dollar weakens; I can see no reason for the Euro to strengthen. Everything points south.” David agrees: “From a fundamental perspective the Euro has all sorts of difficulties; a riven central bank, a new, [yet-to-be-established] head of the ECB; there’s always a chance of some general Dollar weakness feedback with a Trump presidency and a trade spat with China.”
Gold has been on a run during the summer – but has that interest waned in recent months? Nick says, “There’s always interest in gold. It’s a good trading market for an intraday or a day trader, with well-known drivers, and I like it as a trading vehicle. Can it go to $1,700? I don’t think so. Will it go back down to $1,400? Maybe. [We may be stuck in the] $1,460-$1,540 range [in the immediate future].”
In Bitcoin, Nick believes we have a market that is maturing. “I never thought I’d say that about cryptocurrencies. It used to be a long-only market; you bought it, you sat on it, you listened to the hype and you hope you’d double your money in 24 hours. And some days it happened.
“Will it go back to $20,000? I don’t know. But the longer the market goes on, the more types of investor that gets involved and you have an asset class that will continue to garner interest.”
However, David remains skeptical. “You get the market [rising], but I was reading about the lack of increase in people actually using it for things [as a medium of exchange], and I find it hard to square that.”
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.