Forex Today: USD attempts a comeback, China growth slows, and Bitcoin recovers

US dollar inches higher amid mixed Chinese data dump.
Trump takes a dig at the Fed once again, says the US is doing great economically.
Bitcoin back above the 10k level, but for how long?

Dhwani Mehta FXStreet

Here is what you need to know to start your day on Monday, July 15th, European session:

- The Chinese economy grew by 6.2% y/y in Q2, the weakest expansion in 27 years. Activity data showed a dramatic improvement, Antipodeans advanced further, Asian stocks traded mixed.

- US President Donald Trump tweeted that America is doing great economically despite the Fed’s antiquated policy on rates. US dollar index, 10-year treasury yields attempt a rebound, Gold slips. *

- UK: The Times reported that the British PM hopeful Johnson is ready to negotiate a post-Brexit trade deal with the US as his first step after being the UK Prime Minister. *

- Iran said it's ready to hold talks with the US if Washington lifts sanctions and returns to the 2015 nuclear deal. Meanwhile, S. Korea-Japan failed to resolve trade disputes. *

- Oil prices corrected lower on slowing Chinese growth concerns as US refineries, in the face of Tropical Storm Barry, continued to operate despite flood threats. *

- Cryptocurrencies are recovering following the weekend tailspin led by Trump’s criticism of cryptocurrencies late last week. Bitcoin dipped briefly below the 10k mark in early Asia. *

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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