From Marc Chandler at Bannockburn Global Forex:
The capital markets are off to a mostly quiet start today, with Japanese markets closed and mixed signals from the Middle East after the war expanded over the weekend. Crude oil prices initially rallied but have come back off. The line-up of the new UK government is awaited. The tech sell-off continued in Asia but US index futures are trading firmer.
The preliminary July PMIs are due at the end of the week, and the ECB meeting on July 23 is seen as paving the ground for the next hike in September. At the end of the week, the US Section 122 tariffs expire. The Section 301 (10%-12.5%) tariffs for using forced labor might not be ready to be implemented before the others expire. The Trump administration will likely address these issues in the coming days....
....MUCH MORE
