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OPEC+ reaches an agreement, supply increases from August

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Forex news for Asia trading on
Monday
19
July 2021

The major
news
item of the day, from the weekend, was the calling of a snap OPEC+
meeting given last week’s agreement between Saudi Arabia and the
United Arab Emirates which patched up the rift blocking the OPEC+
deal. The meeting took place (virtually) on Sunday (Vienna time) and
the deal was reached in no time, the details:

Oil
markets opened soon thereafter and prices have dripped lower during
opening trade. USD/CAD is higher.

Across
the forex space it was a day of lower for many currencies against the
USD, but not in large ranges. AUD/USD and NZD/USD continued to slip a
little lower as the coronavirus lockdowns tightened and are set to
extend in Australia’s
two largest of Sydney and
Melbourne.

EUR
and GBP lost a little ground against the USD while USD/JPY lost a few
points also.

Forex news for Asia trading onMonday19July 2021



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