Forex Today: USD bulls rescued by NY Fed while Gold takes a breather


  • US dollar index offered reprieve by the NY Fed’s clarification on President Willian’s comments.
  • Gold consolidates the rally to 2019 highs.
  • All eyes on trade and geopolitical developments.

Here is what you need to know to start your day on Friday, July 19th, European session: 

- US dollar bounced vs. main competitors after the NY Fed disavowed President Williams’ preventive rate cut comments, Treasury yields looked to stabilize.

- USD/JPY jumped off 107.21 lows, a dead cat bounce amid aggressive July Fed rate cut calls? Japanese CPIs matched estimates.

- Asian equities cheered risk-on. Aussie’s upside capped near 0.7080 amid trade anxiety. Kiwi bulls faced rejection just below 0.68 handle.

- US-China officials discussed trade; Mnuchin eyes possible in-person talks. Japan urged S. Korea envoy to act amid escalating trade row over wartime forced labor.

- UK: The Cable consolidated the recovery amid upbeat UK retail sales data and mounting Hard Brexit risks.

- Oil prices extended the corrective upside after US Navy ship 'destroyed' Iranian drone in Gulf, ignored IEA 2019 oil demand forecast downgrade. Gold pulled back from 2019 highs of $1452.

- Cryptocurrencies consolidated the latest upmove. Bitcoin capped below 11k.

Key events to watch

GMT
Event
Vol.
Actual
Consensus
Previous
Thursday, Jul 18
21:00
 
 
2.5%
23:30
0.6%
0.6%
0.8%
23:30
0.7%
0.7%
0.7%
23:30
0.5%
0.6%
0.5%
23:50
¥950.0B
 
¥297.0B Revised from ¥297.1B
23:50
¥-93.1B
 
¥192.2B
Friday, Jul 19
03:00
6.6%
5.4%
6.7% Revised from 6.6%
04:30
0.3%
-0.2%
0.8% Revised from 0.9%
06:00
1.2%
1.4%
1.9%
06:00
-0.4%
-0.2%
-0.1%
08:00
 
4.9%
7.3%
08:00
 
 
€21B
08:00
 
 
€19.2B
08:30
 
£3.200B
£4.463B
08:30
 
 
€-1.4B
08:30
 
4.9%
4.9%
11:30
 
 
12%
11:30
 
 
$429.91B
12:30
 
0.4%
0.1%
12:30
 
0.3%
0.1%
13:00
 
 
-7
14:00
 
98.5
98.2
15:00
 
 
$-460.1M
15:05
 
 
17:00
 
 
784
19:30
 
 
$17.2K
19:30
 
 
$244.8K
19:30
 
 
390.1K
19:30
 
 
£-73K
19:30
 
 
¥-3.7K
19:30
 
 
€-35.9K
19:30
 
 
$-54K
20:30
 
 
Saturday, Jul 20
24h
 
 
Sunday, Jul 21
24h
 
 
Monday, Jul 22
04:30
 
 
1.8%
04:30
 
 
0
06:00
 
 
-5
06:00
 
 
-0.7%
08:30
 
2.7%
2.8%
09:00
 
 
0.4%
09:00
 
 
3.3%
10:00
 
 
-15
10:00
 
 
2.9%
12:00
 
10.0%
9.9%
12:30
 
 
-0.05
12:30
 
0.2%
1.7%
15:30
 
 
2.115%
15:30
 
 
2.01%
22:30
 
 
Tuesday, Jul 23
05:00
 
 
6.6%
05:00
 
 
0.9
06:00
 
 
5.8
07:00
 
 
57.6
08:00
 
5.3%
5.4%
10:00
 
 
-42%
12:00
 
0.06%
0.06%
12:00
 
0.9%
0.9%
12:15
 
 
12:55
 
 
4.7%
12:55
 
 
1%
13:00
 
 
0.4%
14:00
 
5.35M
5.34M
14:00
 
1.2%
2.5%
14:00
 
 
3
14:00
 
-6.5
-7.2
17:00
 
 
1.695%
20:30
 
 
-1.401M
22:45
 
 
$5.81B
22:45
 
 
$-5.49B
22:45
 
 
$5.54B
22:45
 
 
$264M
Wednesday, Jul 24
00:30
 
49.7
49.3
05:00
 
 
0.9%
05:00
 
 
-0.1%
05:00
 
 
-0.7%
05:00
 
95.2
95.2
05:00
 
103.2
103.2
06:45
 
104
102
07:15
 
50.7
51.9
07:15
 
51.2
52.7
07:15
 
51.5
52.9
07:30
 
52.5
52.6
07:30
 
55.4
55.8
07:30
 
45.4
45.0
08:00
 
4.5%
4.5%
08:00
 
0.35%
0.30%
08:00
 
 
4.7%
08:00
 
4.6%
4.8%
08:00
 
51.8
52.2
08:00
 
48.0
47.6
08:00
 
52.9
53.6
08:30
 
 
42.384K
11:00
 
 
-1.1%
13:00
 
0.08%
0.01%
13:00
 
0.13%
0.16%
13:00
 
 
-4.9
13:45
 
50.4
50.6
13:45
 
51.0
51.5
13:45
 
 
51.5
14:00
 
 
-7.8%
14:00
 
0.650M
0.626M
14:30
 
 
-3.116M
17:00
 
 
1.791%
23:00
 
2.9%
1.7%
23:00
 
0.4%
-0.4%
23:50
 
0.0%
0.8%
23:50
 
 
¥950B
23:50
 
 
¥-93.1B
Thursday, Jul 25
03:05
 
 
06:00
 
 
3.2%
07:00
 
 
102.5
07:00
 
 
77.1%
07:00
 
13.5%
14.7%
07:00
 
 
4.5%
07:00
 
 
93.8
07:30
 
6.5%
6.8%
07:30
 
 
0%
07:30
 
 
3.5%
08:00
 
96.7
97.4
08:00
 
98.7
100.8
08:00
 
95.2
94.2
08:00
 
 
€3.11B
09:30
 
5.8%
6.4%
09:30
 
0.4%
0.5%
11:00
 
22%
24%
11:45
 
-0.4%
-0.4%
11:45
 
0%
0%
12:30
 
 
216K
12:30
 
 
1.686M
12:30
 
 
218.75K
12:30
 
 
0.4%
12:30
 
 
$-75.05B Revised from $-74.55B
12:30
 
0.1%
0.5% Revised from 0.4%
12:30
 
0.5%
-1.3%
12:30
 
 
-0.5% Revised from -0.6%
12:30
 
0.1%
0.4% Revised from 0.3%
12:30
 
 
13:00
 
1.4%
1.6%
13:00
 
 
0.7%
13:30
 
 
$0.662B
14:30
 
 
62B
15:00
 
 
-3
15:30
 
 
2.09%
17:00
 
 
1.889%
19:00
 
 
$1,373M
20:00
 
 
4.25%
21:00
 
 
97.5
23:50
 
1.1%
1.1%
23:50
 
0.9%
0.9%
23:50
 
0.8%
0.8%
Friday, Jul 26
05:00
 
-3.7%
-2.4%
05:00
 
-0.8%
-0.7%

 

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