What you need to know on Friday, July 26:
Currencies are stable ahead of the all-important first release of US GDP growth for the second quarter. Expectations stand at a slowdown from 3.1% to 1.8%. Expectations may have risen after upbeat Durable Goods Orders.
EUR/USD has stabilized after hitting a new two-year low of 1.1101 after the European Central Bank signaled cutting rates and beginning of QE.
UK: New PM Boris Johnson spoke about controversial Irish backstop. His speech in parliament was swiftly rejected by the EU's Jean-Claude Juncker and Michel Barnier. GBP/USD remains depressed below 1.2500.
Tensions around North Korea and Iran persist but fail to move currencies. US Secretary of State Mike Pompeo says the door is open to negotiations with North Korea despite the regime's recent missile tests.
Cryptocurrencies sit back with Bitcoin falling below $10,000.