- US dollar reverses a part of Tuesday’s US retail sales data-led rally.
- US-Japan working towards a trade deal by September.
- Bitcoin recovers, but remains below the 10k mark.
Here is what you need to know to start your day on Wednesday, July 17th, European session:
- Aussie fell from weekly highs on China’s Camsing fraud scandal news, Kiwi emerged the strongest in Asia.
- US-Japan eyeing a trade deal by September, Fitch affirmed Japan at ‘A’, outlook ‘Stable’, USD/JPY defended 108.00 amid mixed Asian equities.
- US dollar index pulled back from overnight highs amid falling Treasury, Gold traded modestly flat.
- UK: The Cable attempted recovery above 1.24 ahead of key UK CPI report, hard Brexit fears to remain a weight.
- Oil prices stabilized following the overnight dip to weekly lows, EIA stocks data eyed.
- Crypto bears took a breather. Bitcoin remained below 10k. US senators grilled Facebook on crypto plans, as political and regulatory scrutiny of coins intensified.
Economic events to watch
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