ForexLive Asia FX news wrap: OPEC+ reaches an agreement, supply increases from August

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Monday 19 July 2021

The major news item of the day, from the weekend, was the calling of a snap OPEC+ meeting given last week's agreement between Saudi Arabia and the United Arab Emirates which patched up the rift blocking the OPEC+ deal. The meeting took place (virtually) on Sunday (Vienna time) and the deal was reached in no time, the details:

Oil markets opened soon thereafter and prices have dripped lower during opening trade. USD/CAD is higher.

Across the forex space it was a day of lower for many currencies against the USD, but not in large ranges. AUD/USD and NZD/USD continued to slip a little lower as the coronavirus lockdowns tightened and are set to extend in Australia's two largest of Sydney and Melbourne.

EUR and GBP lost a little ground against the USD while USD/JPY lost a few points also.

Forex news for Asia trading onMonday19July 2021

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