Daily Recap: Wednesday, July 22, 2020

Demand on safe havens increased on Wednesday, with rising tensions between the United States and China escalating to the closure of the Chinese consulate in Houston, which left a toll on the USD. Meanwhile, gold and silver maintained their record-breaking rallies, while oil prices were affected by a rise in US inventories.

There is a look at the top stories of today:

Forex:

• CAD Gains After Inflation Data
• EUR/USD Maintains Some Momentum

Commodities:

• Oil Settles Marginally Lower
• Gold Settles at Highest Level Since 2011
• US Oil Stocks Rise and Prices React with 1.3% Decline

Stocks:

• NYSE Indices Close in Green
• European Stocks Close Lower on COVID-19 Worries
• European Stocks Decline

Economic Data:

• Brazil Expects Increased Budget Deficit
• Reshetnikov: Russia’s GDP Declines by 4.2% in H1
• US Home Sales Post New Record Increase
• Canada: Annual CPI in June Climbs to 0.7%
• House Prices in US Retreats in May
• China’s Economy Recovers, PBOC Pausing Stimulus
• Australia Retail Sales Rise in June
• Japan Industrial Output Seen Rebounding

News:

• Lagard: EU’s Fiscal Package Could’ve Been Better
• Baker Hughes Announces Q2 Loses
• China Closes Its Consulate in Houston on US Decision
• COVID-19 Update: Cases Reach 15 Million