- Japanese media reporting that Tokyo will hike its COVID medical alert to the highest level
- US Commerce Sec warns on recession risk if chips from Taiwan cut off
- More on BOC Macklem - inflation will probably remain above 7% for the rest of 2022
- Preview: The Bank of Japan is widely expected to leave policy unchanged at today’s meeting
- Australian Q2 Business confidence 5 (prior 15)
- PBOC sets USD/ CNY reference rate for today at 6.7620 (vs. estimate at 6.7609)
- EU wants an 'insurance ban' on Russian oil shipping - by December
- Goldman Sachs economists see a 50/50 chance of a US recession in the next 24 months
- EUR/USD range in coming weeks - forecast 0.98 to 1.05
- Australian Prime Minister advises the RBA not to 'overreach' on interest rate rises
- Japan trade data for June: Exports +4.0% m/m and imports +3.6% m/m
- BOJ preview - Bank of Japan Governor Kuroda to stare down the doubters again
- ICYMI - EU has banned imports of Russian gold, & has frozen the assets of Sberbank
- A huge day coming for EUR: ECB rate hike, Italian political turmoil, Gas to flow (recuted)
- ICYMI - South Korean prosecutors & police are conducting raids at Terra offices in Seoul
- Citi EUR outlook - maintains a bearish bias and a sell-on-rallies bias.
- US President Biden says he will be speaking with China President Xi in the next 10 days
- Forexlive Americas FX news wrap: Euro struggles as Italian government crumbles
- Trade ideas thread - Thursday, 21 July 2022
- BoC Gov. Macklem says inflation is going to stay painfully high
- Bitcoin lower after Tesla reveals they converted most of theirs to fiat currency
Those three items in the headline promise an active day during the European timezone.
- The ECB will hike rates
- Draghi is expected to (finally) resign
- Nordstream gas flows will recommence, at reduced capacity
More on all of these in the points above.
Here in Asia news flow was light. The Bank of Japan policy decision is expected along any minute (no change is widely expected, more detail in the previews above).
After a solid 24 hours performance Bitcoin was rattled a little lower by the news out of Tesla that it had sold three quarters of the BTC it was holding in exchange for fiat currencies.
Across major currencies EUR/USD was a notable mover, popping back above 1.02 during the session. CAD also added on a few ticks. USD/JPY, meanwhile rose early to highs above 138.50 again before dropping back as we await the BOJ to lows towards 138.20.
