What you need to know about Monday 22 July
Publish Date : 2019/07/22 - 07:48

Here is what you need to know about Monday, July 22nd:


Currencies:

US dollar firmed up across the board on a likely smaller Fed rate cut, Gulf tensions stoked safe-haven demand, Asian equities slipped.


Japan's Abe won the upper house election, USD/JPY re-attempted 108.00.


Politics:

Trade: Some Chinese companies are seeking new purchases of US agricultural products, S. Korea-Japan trade concerns loom, China to impose an anti-dumping tax on stainless steel from Indonesia, EU, Japan, S. Korea.

UK: All eyes on new UK PM election. FinMin Hammond to quit if Johnson becomes the PM. Cable hovered around 1.2500.


Commodities:

Oil prices rallied on escalating UK-Iran tensions over 'hostile act' of UK tankers seizure by Iran.


Gold was lifted by Gulf tensions, but upside capped by dollar gains.


Cryptocurrencies consolidated in tight ranges. Bitcoin unmotivated below 11k.


Source: Fxstreet

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