Broadening USD selloff after the US ADP survey on pvt sector payrolls posted its 2nd biggest decline in 3 years, falling to 67K from 121K vs an expected 135K. Broad GBP strength exploited USD selling to hit the 1.31 for the 1st time in 7 months. The latest swings in economic data highlight the opacity in the global economy in the second half of 2019. As USDX breaks below its 100 DMA, Aussie slides after GDP. The BOC decision and ISM non-manufacturing are due up next (see more below.)  The English Premium video is posted below, recoding during the release of the ADP, focusing on the  latest FX and index trades.

Equity indices extend Monday's selloff after pres Trump widened his verbal tariff attacks on France and weighed the possibility of delaying a China deal til after the US elections. AUD is the strongest of the day after the RBA left rates unchanged and headed to a long holiday break with an opportunity to wait and see vis-a-vis the trade war. GBP hit $1.30, now up 1.9% on the year as the 2nd best performing currency behind CAD, which is up 2.4% vs USD. USDJPY extended its downfall, after failing a major quadruple confluence. (more below). CFTC positioning highlights the large net-negative position in NZD. A 2nd Premium trade has been issued earlier today after 2 key indicators used in the Premium Insights maintained their functionality during last week's run-up.