Kiwi cheers NZ CPI, trade talks set to resume, and Bitcoin recovery falters

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  • NZ dollar advances further on steady NZ inflation data.
  • RBA minutes: Ready to ease further when needed.
  • Bitcoin faces rejection below the 11k mark.

Here is what you need to know to start your day on Tuesday, July 16th, European session: 

– New Zealand’s Q2 CPI data matched estimates and drove NZD/USD to fresh 3-month highs of 0.6738, Aussie hung near 10-day tops despite dovish RBA minutes, USD/JPY held steady near 108.00 amid weaker Asian stocks. *

– US dollar index extended overnight consolidation just below 97 mark, 10-year treasury yields were modestly flat, Gold traded firmer above 1415 levels. *

– UK: Easing fears over a Hard Brexit kept the Cable buoyed ahead of key UK jobs report and Carney’s speech. *

– S. Korea-Japan trade tensions escalated as Japanese Trade Minister Seko lashed out at S. Korea. US-China trade talks to resume this week, US Treasury Sec. Mnuchin said. *

– Oil prices steadied as US Gulf of Mexico output resumed, the focus stays on API data, Middle East developments. *

– Cryptocurrencies stalled the recovery from the recent carnage. Bitcoin’s recovery fizzled below 11k. Mnuchin joined US regulators to air concerns over Facebook’s Libra. *

 

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