Here is what you need to know on Wednesday, August 28th:
- Markets are calm after suffering on Tuesday. The US 10-year to 2-year bond yields remain inverted in a sign of an upcoming US recession. Reports suggest that China is preparing for the worst in trade wars as mistrust deepens.
- Brexit: Opposition parties have agreed to use legislation to block a no-deal. GBP/USD
is holding onto the gains.
- Australia: Construction Work Done missed with a drop of 3.8% in the second quarter, weighing on the Aussie. NZD/USD is also pressured.
- Gold and oil, are little changed.
- Cryptocurrencies remain stable despite reports that China may issue its cryptocurrency as soon as November.