Monday Briefing: From DXY to Latest Russia – Ukraine Conflicts; July 25, 2022

US Dollar Index Overview

  • The DXY depreciates on Monday and remains well supported below 106.50 mark.
  • It made intraday high at 106.88 and low at 106.18 mark.
  • A day Chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • Immediate hurdles are seen at 106.90 to 106.05 mark.
  • A sustained close of either side on H1 chart requires for the further directions of the U.S. dollar.

Key Headlines for the FX market:

  • Myanmar’s military junta has executed four democracy activists accused of helping to carry out ‘terror acts,’ it said, sparking widespread condemnation of the Southeast Asian nation’s first executions in decades.
  • China’s population has slowed significantly and is expected to start to shrink ahead of 2025, the state backed Global Times reported, citing a senior health official.
  • The number of Australians admitted to hospitals with COVID hit a record of about 5,450 on Monday, official data showed, as the spread of highly contagious new Omicron sub-variants strains the healthcare system nationwide.
  • Roads emptied and people were ordered to stay indoors in parts of Taiwan, including its capital Taipei, for an air-raid exercise as the island steps up preparations in the event of a Chinese attack.
  • U.S. chipmaker Intel said it will produce chips for Taiwan’s MediaTek, one of the world’s largest chip design firms.
  • European Union countries are seeking to soften the bloc’s plan to require them to use less gas as Europe prepares for a winter of uncertain supplies from its main gas supplier Russia.
  • China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to $44 billion in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.
  • Danish biotechnology company Bavarian Nordic (BAVA.CO) said on Monday the European Commission had given permission for its Imvanex vaccine to be marketed as protection against monkeypox, as recommended last week by the European Medicines Agency (EMA).

Latest updates on Russia – Ukraine Conflicts:

  • Barely a kilometer from Russian positions defending the captured eastern city of Izium, Ukrainian and foreign fighters hunker in a dank basement.
  • Artillery rains down on them most nights, shaking loose the plaster and filling the air with dust. At the sharp end of efforts to stop the Russian army’s progress in eastern Ukraine are the Carpathian Sich battalion, a unit of Ukrainians and foreign nationals.
  • Ukraine said on Monday it hoped a U.N.-brokered deal aimed at easing global food shortages by resuming grain exports from the Black Sea region would start to be implemented this week.

Source: Reuters

Keep an eye open for the latest news and fundamentals affecting the FX markets.

Take a look and do trade wisely!
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