FX News

Central Bank Action Looms

Key Points:
• Worldwide coronavirus cases surpass 199.022 million with over 4.240 million official deaths.
• Australian Bank Holiday saw a quit start to the week.
• Covid fears send Oil and stocks lower Monday.
• Sydney, Australia has reported another 207 new cases of coronavirus Monday.
• New Zealand’s Medal Tally- 4 Gold, 3 Silver, 4 Bronze making us twelfth on the medal table.
• AUD to come under selling pressures if the RBA delay their taper.
• Japan extended its state of emergency to Osaka recently and 3 areas near Tokyo to avoid a spike in coronavirus cases in efforts to avoid a possible system collapse during the Olympics.

Major Announcements last week:
US Consumer Confidence improves in July
Federal Reserve dovish stance sparks risk off mood
US advanced GDP q/q prints at 6.5% from 8.5% anticipated
US jobs numbers rise by 400,000 from 382,000 expected

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