Daily Recap: Tuesday, July 21, 2020

The European agreement on the long-anticipated recovery fund and budget stood out as the most important event and market mover on Tuesday. Meanwhile, the Australian Dollar was probably the top performer against major currencies today, while the Euro and the British Pound increased their gains supported by the US Dollar losses, and so did the commodities currencies, as gold, silver, and crude oil prices also achieved big gains.

Following are the top stories of the day:

Forex:

• RBA Minutes and Remarks Give Boost to Aussie
• EUR/USD Surges on European Recovery Deal
• GBP/USD Keep Gains Near Weeks High

Stocks:

• S&P and Dow Settle Higher while Nasdaq Closes in Red
• European Stocks Close at Four-Month High
• US Treasury Yields Slightly Edge Down
• US Stocks Open Higher
• Europe Stocks Higher On Recovery Deal

Commodities:

• Gold Settles at Highest Level in Nine Years
• Silver Futures at Highest Level Since 2014
• Oil Prices Gain 3% on European Recovery Deal
• Oil Rises amid Hopes for Vaccine

Economic Data:

• Canada: Retail Sales Rise by 18.7%
• UK Borrowing Hits Record in 3 Months

News:

• EU Reaches ‘Historic’ Deal on Pandemic Recovery
• ECB: COVID-19 Wave in US to Impact Eurozone
• China’s Xi: Economic Recovery Leads the World
• China Accuses UK of Violating International Law