This is what you need to know to trade today Monday, July 26:
Market sentiment is mixed, as optimism about falling covid cases in the UK contrasts with concerns about the US and a new Chinese techlash. Bitcoin is benefiting from new speculation. Investors will focus on various data pending the Fed’s decision.
Coronavirus cases in the UK fell for the fifth day in a row, a week after the country dropped most restrictions. The successful launch of the vaccine appears to defeat the highly transmissible Delta variant.
In the United States, Dr. Anothoni Fauci said “we are going in the wrong direction” with the increasing cases of covid and added that the high number of unvaccinated people is a problem. He suggested that a booster immunization dose might be necessary.
China cracked down on educational technology companies, sending EdTech and broader markets lower early Monday. Beijing’s move comes after removing access to Didi – the “Chinese Uber” – from app stores and other brakes against big business.
S&P 500 futures down on Monday after the index hit all-time highs on Friday. In addition to Chinese techlash, investors are cautious ahead of the Federal Reserve’s decision on Wednesday. The world’s most powerful central bank is grappling with strong growth and higher inflation, amid concerns about the virus.
US lawmakers have continued to deliberate on the bipartisan infrastructure bill over the weekend, hoping to move forward and close the deal as early as Monday.
Bitcoin soared about 10% towards $ 40,000,carrying other cryptocurrencies on the rise with him. Ethereum is trading above $ 2,300. Speculation that Amazon is venturing into digital assets is cited as the reason for this move. Last week, BTC received support from Elon Musk, Cathy Wood, and Jack Dorsey.
The EUR/USD it is trading below 1.18, slightly higher ahead of IFO’s German business climate figures. New home sales in the United States are also released later in the day.
The AUD/USD he is on the defensive amid speculation that the Sydney lockdown would extend through September. Most of Australia is under lockdown as the covid continues to spread, while the vaccination campaign is struggling to rebound.
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