#OPINIONLEADER# Morning market update 24 07 2021: US PMI data was elevated but the Services PMI (July) missed at 59.8 with 64.8 expected as well Markit Composite PMI (July) with 59.7 lower than the 63.7 expected. Alternatively the Manufacturing PMI (July) coming in at 63.1 beating expectations of 62.0. This saw the USDJPY pull back only to 110.38 and then moving higher to close out at 110.55, the theme overnight was still US dollar strength and the main focus next week will be on the FOMC Statement on Thursday at 02:00 GMT+8. USDCAD saw some weakness as the CAD Core Retail Sales (MoM) (May) come in at -2.0% better than expected with -2.2% forecast also the Retail Sales (MoM) (May) at -2.1% better than expected with -3.0% forecast and significantly beating the previous month reading of -5.7%. The USDCAD focus point will be the CAD CPI data coming out on Wednesday at 20:30 GMT+8 with a break over 1.25800 on a miss in CPI offering buying opportunities.

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Edited 24 Jul 2021, 10:17

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