Psychology for major markets July 23
Oil Continue to Jump
EUR/USD – EUR/USD is close to unchanged as market participants quiet waits for the ECB, yet most expecting a hold. Middle East development remain in the driver seat with Saudi's tanker being attacked by Houthi, kickstarting the latest round of oil spike.
USD/JPY – USD/JPY has refreshed another historic high above 163. It triggered BoJ officials' remark on increasing rate faster than a six month interval. Market participants maybe anticipating an October hike and is mostly looking forward to a hike before year end 2026.
AUD/USD – The Aussie backed away from 0.7030 resistance area for a second try as sentiment turns sour.
Equities & Others – Broader risk are sour on rising escalation between U.S.-Iran. The latest leg of development sees market participants worry about even less oil traffic from the Middle East.