{"id":68333,"date":"2022-07-12T03:54:11","date_gmt":"2022-07-11T23:54:11","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=68333"},"modified":"2022-07-12T03:59:53","modified_gmt":"2022-07-11T23:59:53","slug":"market-drivers-us-session-monday-july-12","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-monday-july-12\/07\/12\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 Monday, July 11"},"content":{"rendered":"\n

The US dollar touched fresh highs against most major rival currencies, as the week started amid risk-off mode.

The EUR\/USD pair trades in the 1.0040 price zone, its lowest since December 2002. The shared currency is under additional pressure amid an energy crisis. As expected, Russia closed the Nord Stream 1 pipeline for maintenance, although Germany fears it would not reopen it.

Economic Data
<\/strong>
No significant economic data was released on Monday.

Other Developments<\/strong><\/p>\n\n\n\n


<\/strong>China\u2019s news triggered the negative market sentiment as inflation in surged by 2.5% YoY in June, above the market\u2019s expectations. Shanghai officials reported the first case of the coronavirus Omicron sub-variant BA-5, spurring concerns of a new lockdown in the region just a few weeks after the end of a month-long isolation mandate.


The GBP\/USD pair trades below 1.1900. The UK\u2019s Conservative 1922 Committee announce that nominations to replace Boris Johnson as Prime Minister will open and close on Tuesday. They would have successive ballots until they reach the final two, which could happen early in the next week. Finally, the results will be announced on September 5.

The Australian dollar weakened against its US rival, with AUD\/USD trading near a fresh 2-year low of 0.6713. The greenback advanced against the CAD, but USD\/CAD remains within familiar levels and trades around 1.3000.

The USD\/JPY pair surged to a fresh multi-year high of 137.74, holding nearby despite volatile action among government bonds. Nevertheless, and despite back and forth, the US yield curve remains inverted, hinting at an upcoming recession.

Gold weakened by the end of the day, now trading at around $1,731.00 a troy ounce. Crude oil prices remained stable, with the barrel of WTI now at $103.65. Global equities fell ahead of earnings reports and US inflation figures.<\/p>\n\n\n\n

Also Read<\/strong><\/p>\n\n\n\n

Gold trades around key support at $1,730<\/a><\/p>\n\n\n\n

Bitcoin Leads Crypto Slide, Extending Weekend Losses<\/a><\/p>\n\n\n\n

AUD\/USD wavers above 0.6730 ahead of US Inflation<\/a><\/p>\n\n\n\n

USD\/CAD climbs on negative sentiment, stronger US dollar<\/a><\/p>\n\n\n\n

US Equities retreat as earning season looms<\/a><\/p>\n\n\n\n

T-Yields retreat as traders eye Wednesday\u2019s key inflation data<\/a><\/p>\n\n\n\n

Euro To Stay Low In The Near Term<\/a><\/p>\n\n\n\n

BoE\u2019s Bailey: Several things on table for August meeting<\/a><\/p>\n\n\n\n

US Median 1-year inflation expectations rise to 6.8% in June<\/a><\/p>\n\n\n\n

Fed\u2019s George: Speed at which interest rates should rise an open question<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The US dollar touched fresh highs against most major rival currencies, as the week started amid risk-off mode. The EUR\/USD pair trades in the 1.0040 price zone, its lowest since December 2002. The shared currency is under additional pressure amid an energy crisis. As expected, Russia closed the Nord Stream 1 pipeline for maintenance, although …<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6832,7462,8166,8796,6871],"class_list":["post-68333","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-china","tag-market-sentiment","tag-omicron","tag-risk-off","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68333"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68333\/revisions"}],"predecessor-version":[{"id":68343,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68333\/revisions\/68343"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}