Re-opening in focus
Today's news headlines:
‘Binance customers frozen out of withdrawals via key UK payment network’. Since the ban on Binanace’s UK based entity, Binance Markets, customers have lost the ability to withdraw Sterling from the app. The suspension comes via the Faster Payments service that has effectively been suspended with the excuse that the service is ‘under maintenance’. Binance have emphasised that people can still withdraw funds via a bank card, but a lack of access to the Faster Payments service is hindering UK customers greatly. (Financial Times)
‘UK must “learn to live” with Covid, says new health secretary’. Optimism around a July 19th re-opening for the UK has lifted recently, with the appointment of Sajid Javid as the new UK Health Secretary. Javid is much more focused on lifting restrictions as soon as possible and has emphasised the reality of living with the virus. The UK reported an additional 22,868 cases of Coronavirus on Monday as the Delta variant continues to drive case numbers. (Financial Times)
Today's events, rates, and data
US markets were relatively mixed on Monday with the Nasdaq finishing 0.98% higher and the Dow Jones closing 0.44% lower. The FTSE 100 closed 0.88% lower as the UK travel industry continues to be pressured with limited re-openings. Cable is back below the $1.39 level while EUR/USD is holding ground above $1.19.
Japan Unemployment Rate: 3.0% vs 2.8% last month
Japan Retail Sales y/y: 8.2% vs 11.9% last month
FOMC Member Thomas Barkin Speaks: 2:00PM
ECB President Christine Lagarde Speaks: 2:40PM
US CB Consumer Confidence: 3:00PM
GBP/USD – 1.3874
GBP/EUR – 1.1638
EUR/USD – 1.1921
USD/CAD – 1.2336
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