What you need to know on Thursday, July 25:
UK PM Boris Johnson has announced his new cabinet, lowering the chances of a deal with the EU. Political experts suspect the UK is heading to elections. GBP/USD has been steady amid the change of the guard.
US data was mostly disappointing with New Home Sales coming out at 646K annualized – another worrying sign for the sector. Today's Durable Goods Orders provides critical insight for Friday's GDP. The USD is stable and next week's Fed decision is awaited.
Cryptocurrencies are recovering with Bitcoin topping $10,000. Oil and gold are stable.