Daily Wrap Up – 19 July

19 Jul 2017 06:22 PM

The economic calendar was not full of major economic events today. Most of the moves was in the trading range since of the beginning of the week, as markets awaiting a number of economic data tomorrow, as the Bank of Japan's monetary policy decision is likely to remain unchanged, plus that markets will also be looking closely at the ECB's statement and whether Draghi will give any hint on tightening monetary policy or easing the monetary easing program.

Housing data in the United States was the most prominent on the economic calendar, with the index of housing starts rose to its highest level in four months to end the second quarter of 2017 strongly, and this wasn't affected on USD movement significantly as a result of those data.

Crude oil inventories continued their decline for the third week in a row by 4.7 million barrels per day for the week ending July 14, and crude oil prices rising significantly to  47.36$, its highest level since June 7.

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