Market News 21/7
🔔EURUSD is back above 1.0200 ahead of a European Central Bank meeting where it is expected to hike for the first time in more than a decade, almost certainly raising rates by 25 basis points. The rate announcement is at 15:15 MT time, while the central bank’s press conference starts at 15:45 MT time.
💹The Bank of Japan maintained its policy rate and lowered its economic growth forecast for this year. USDJPY is stable at around 138.00.
🔥Russia resumed sending gas to Europe through the key Nord Stream pipeline, alleviating some investor concerns. XNGUSD is down from yesterday’s high at 7.917. US500 is at the highest level since June 10 as market sentiment improved a bit.
😬Still, not all are optimistic. Tech companies are getting ready for recession. Microsoft said Wednesday it was eliminating many job openings. Google is pausing hiring for the next two weeks.
🙈Tesla Inc. disclosed that it sold about 75% of its holdings of cryptocurrency during the second quarter. BTCUSD slipped below 23 000 after testing 24250 earlier this week.
🇺🇲🇨🇳US President Joe Biden said he expects to speak to Chinese leader Xi Jinping “within the next 10 days” as Washington considers lifting some tariffs on Chinese imports.
🛢WTI oil (XTIUSD) was back below $100 a barrel as growing stockpiles of crude and gasoline tempered fears of a tight market.
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