- Shanghai COVID restrictions creeping back in
- ICYMI - China's Xi'an city has entered a 7 day period of 'temporary control measures'
- Federal Reserve NY head Williams speaks Wednesday. FOMC minutes (June meeting) also due.
- PBOC sets USD/ CNY mid-point today at 6.7246 (vs. estimate at 6.7096)
- Oil price plunge - 2 reasons why "any further downside in the market to be fairly limited"
- Goldman Sachs says oil has overshot, global deficit remains unresolved
- Brent to fall to $65 on recession
- Russian court orders halt on CPC's Black Sea oil loadings for a month
- Asia is waking up to a sharply higher USD
- Russell Futures Anlaysis, 05 July
- UK Politics update - another government minister has just resigned. Solicitor General
- US official reiterates support for UN efforts to open sea lanes closed by Russia's war
- US to meet with China - bring up human rights issues
- New ministers appointed to the UK Cabinet. New Chanceller, new Education Minister.
- Forexlive Americas FX news wrap: Euro plunges to the lowest since 2002
- Trade ideas thread - Wednesday, 6 July 2022
USD/JPY dropped a little lower during the session with Asia morning lows just under 135.20. Its not much above there as I update.
Across major FX movement was subdued, especially following the huge shunt higher for the US dollar in Tuesday trade. AUD/USD popped above 0.6800 in a small range. NZD, GBP are also up a few ticks against the dollar. EUR/USD is barely changed on the day.
The People’s Bank of China weakened the onshore yuan at the reference rate setting today, much weaker (i.e. higher USD/CNY) than was expected.
Oil recovered a few dollars but has since dropped back to circa $100 again.
Data flow was non-existent. News flow was light also.
The Shanghai Composite slipped. COVID cases in China are rising a little, triggering some (light at this stage) restrictions.
Oil update:
