Prime Minister Boris Johnson was rebuked by the EU, The Kremlin seeks Normandy style talks with Macron’s help, & Italy’s prime minister steps down with one final blow.
Accusing Matteo Salvini of sinking the ruling coalition and endangering the economy for personal and political gain, Italy’s prime minister announced his resignation on Tuesday and made the blistering attack on his own interior minister. Affects EUR
Prime Minister Boris Johnson was rebuffed on Tuesday by the bloc, which said Britain had failed to propose any realistic alternative to an agreed insurance policy for the Irish border after he had demanded that the European Union reopen the Brexit divorce deal. Affects GBP
Riot police fired water cannons and tear gas to disperse protesters demonstrating against the ousting of three Kurdish mayors five months after they were elected in southeast Turkey on Tuesday. Affects TRY
A U.S. banking regulator announced Tuesday he had approved a final rule simplifying the “Volcker Rule,” which restricts risky profit-seeking trades by banks. Affects the S&P500
No date has been set for Normandy format talks on the Ukraine crisis, the Kremlin said on Tuesday, after Russian President Vladimir told his French counterpart Emmanuel Macron a day earlier he saw no alternative. Affects RUB
The Canadian Core CPI (MoM) for July will be released. The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. Affects CAD.
The U.S. Existing Home Sales for July will be made public. Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. Affects USD.
U.S. Crude Oil Inventories will be announced. The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. Affects Brent.
The U.S. FOMC Meeting Minutes will be published. The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee’s policy-setting meeting held about two weeks earlier. Affects USD.
Recall, the Italian prime minister Conte resigned, changing the political balance causing the possibility of a dissolution of parliament and early elections.
The asset broke through the support level of 7150, which may cause increased activity from the bears.
The asset has formed a continuation trend Flag pattern. We expect a decline in quotes.
A break in the trend of the RSI indicator line indicates the possible beginning of a new trend.
EUR/USD on this day in history
- Since 2000 August 21st has been a trading day 14 times.
- On 22% of those days, the asset ended with growth.
- The maximum reinforcement range was 0.76%.
- The trend down was limited to 1.46%.