Here is what you need to know on Wednesday, July 24: Following the choppy action seen on Monday and Tuesday, the market volatility could heighten on key macroeconomic events midweek.
S&P Global will release preliminary July Manufacturing and Services PMI data for Germany, the Eurozone, the UK and the US on Wednesday. During the American trading hours, the Bank of Canada will announce monetary policy decisions. The US economic calendar will also featureGoods Trade Balance and Wholesale Inventories for June. US Dollar PRICE This week The table below shows the percentage change of US Dollar against listed major currencies this week.
AUD/USD extended its downtrend early Wednesday and dropped below 0.6600 for the first time in over a month. USD/JPY continued to push lower despite the renewed USD strength on Tuesday and lost nearly 1% on the day. The bearish pressure surrounding the pair remains intact early Wednesday. At the time of press, USD/JPY was trading at its lowest level since mid-May near 154.50, falling more than 0.5%.
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