GBP News 

Risk of no-deal Brexit ‘very real’, EU’s Juncker says

“There is very little time left…The risk of a no-deal is very real,” said Juncker, who met Johnson in Luxembourg on Monday” writes Midwest Communications Inc for 95kqds.com. STRASBOURG (Reuters) – An accord to ensure a smooth British exit from the European Union is still possible but the risk of a no-deal is also “very real”, European Commission President Jean-Claude Juncker said on Wednesday, six weeks before Britain is due to leave. Source: 95kqds.com

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News 

Vouch, a startup that provides insurance for other startups, raises $24.5 million from Ribbit Capital and Silicon Valley Bank in first outside financing round

“According to Hodges, business insurance is one of those pesky things startups need even if the company is essentially “two people in a garage.”” writes Megan Hernbroth for businessinsider.com. For Sam Hodges, the CEO and cofounder of Vouch, the need for startup insurance became apparent during his 15-year tenure as an investor and startup founder.”Folks don’t realize that insurance is a gating item to do what you need to do in business,” Hodges told Business Insider. Source: businessinsider.com

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News Oil 

Attacks on Aramco oil facilities risk higher inflation, lower growth in Turkey

“But the spike in oil prices could slow down the improvement in inflation in Turkey, which is almost completely reliant on imports to meet its energy needs” writes Midwest Communications Inc for 95kqds.com. In addition, USD10 increase in oil price adds 0.3ppt to inflation,” it said.”Its impact on current account will be limited if the rise in oil price stays around current levels.Piotr Matys, emerging markets forex strategist at Rabobank, said Turkey’s economy could suffer if oil prices remain high in the long term.ISTANBUL (Reuters) – The weekend attack on…

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News Regulators 

Powell’s checklist spells out three risks the Fed must manage

“Slowing global growth is still a risk; a big risk” writes Caroline Baum for marketwatch.com. So “slowing global growth” is still a risk factor.Those risks were the drivers behind the 25-basis-point rate cut on July 31, a move that is likely to be repeated on Wednesday.Germany, the eurozone’s largest — and world’s fourth largest — economy, reported a 0.1% decline in second-quarter real gross domestic product. growth. Source: marketwatch.com

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Markets News Oil Stocks 

Dow Crumbles as Stock Market Braces for Consumer Chaos

“In late afternoon trading, the Dow Jones Industrial Average had lost 127.71 points or 0.47%, pushing the DJIA down to 27,091.81” writes Francois Aure for ccn.com. Jerome Powell will not be keen to surprise the stock market (given how plenty of easing is priced into the Dow).The Dow Jones was rocked on Monday by a devastating surge in the price of crude oil after the attacks on Aramco’s key refinery.Knocking the British pound and worsening risk sentiment in Europe, this was an additional negative to consider for the US stock…

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News Oil 

NZD/USD sags for fourth day on sliding risk trade

“Commodity currencies are seen as a block but when you get a move in a single commodity like today, it underscores the rift between oil importers and producers” reports forexlive.com. Not only does New Zealand import oil but it’s more-leveraged to countries in Asia that import.Zooming out a bit, the bounce in NZD/USD at the start of the month is starting to look like the dead-cat variety and that spells trouble for the kiwi and risk trades elsewhere. Zooming out a bit, the bounce in NZD/USD at the start of…

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Markets News 

5 things the ultra-wealthy are doing to prepare their portfolios for a possible recession, from ditching bonds to stockpiling cash

“Many of them are rearranging their portfolios in an effort to protect their fortunes, a group of certified financial planners told Business Insider” writes Taylor Nicole Rogers for businessinsider.com. Folkes also recommends the high net worth individuals looking to mitigate their risk invest in dividend-paying stocks with long histories.For high net worth individuals, ETFs provide a lower-risk way to stay in the market amid increased volatility among equities. Source: businessinsider.com

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AUD News Oil 

Dollar falls as oil attacks send investors to safety

“The Canadian dollar rose 0.5% in morning trade in Asia to 1.3224 per dollar” reports cnbc.com. Both currencies often move together with the oil price because the countries are major oil exporters.The dollar fell while safe-havens and currencies of oil producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions.”Geopolitical risks and central bank rhetoric remain key drivers of risk this week,” Australia and New Zealand Banking Group analysts said in a note.The attacks wiped out last…

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News 

Video: A look at implied volatility in the week ahead and euro crosses

“But also the week ahead and the event risk through which you, as traders, will have to navigate” reports forexlive.com. I’ll update these key trading variables early in the week, but 1-week implied volatility does take into account the FOMC meeting, so I don’t think it is certainly relevant.Using this volatility, we can assess the expected move (up or down), which can define our risk and position sizing. Source: forexlive.com

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