Market News 18/7
✨Good morning!
🇨🇳China is facing a rise in Covid cases again, containment lockdowns and problems in the real estate sector, now linked to a boycott of mortgage payments on some pending projects.
🛢Oil prices rose after US President Joe Biden ended a historic visit to the Middle East without a firm commitment from key producer Saudi Arabia to increase oil supplies. XBRUSD is $100.
☢️Bitcoin jumped above $21,500 amid a broad rise in cryptocurrencies. BTC is $22210.
🇺🇸Last week's data showing a decline in long-term inflation expectations in the US eased some concerns that higher price pressures are taking hold. Strong retail sales underscored the resilience of the economy despite monetary tightening.
🤔Traders are back on expectations of a 75 basis point Fed rate hike in July after speculating last week with the prospect of a 100 basis point hike to hit inflation. The USD is decreasing.
❗️Earnings season is continuing. This week we expect data from the IBM, Netflix, Coca-Cola, eBay, Tesla, Intel and AT&T! It’s a great chance to trade these stocks!
Have a great trading week! 🎉
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