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Despite a little decline in US Treasury yields, the USD Index saw some gains and returned to the 104.50 region. The preliminary S&P Global Manufacturing and Services PMIs and advanced goods trade balance are due on July 24, with new home sales coming in second.
In addition to continuing Monday’s pullback, USD/JPY also made brief visits to multi-week lows below the 156.00 mark. Next up for release on July 24 are the preliminary Manufacturing and Services PMIs.
The broad-based theme of risk aversion caused EUR/USD to sharply decline, reaching multi-day lows close to 1.0840. On July 24, the German and European Union flash HCOB Manufacturing and Services PMIs are anticipated.
GBP/USD pierced the 1.2900 support amidst the better tone in the US dollar and the generalized offered stance in the risk complex. The advanced S&P Global Manufacturing and Services PMIs will be at the centre of the debate in the UK on July 24.
The downward pressure on AUD/USD did not abate, and as a result, the pair traded at a distance from the 0.6600 region. July 24 is the deadline for the flash Judo Bank Manufacturing and Services PMIs.
Geopolitical fears have subsided, while persistent demand uncertainties from China have driven WTI prices to six-week lows below $77.00 per barrel.
Although it was only slight, the gold price rebounded after four straight days of declines and broke through the $2,400 barrier per ounce. Silver slightly increased in price above $29.00 per ounce.
