EUR Breaks Support, Boris Johnson Wins Tory Contest, CAD Extends Bearish Turn - US Market Open

EUR Breaks Support, Boris Johnson Wins Tory Contest, CAD Extends Bearish Turn - US Market Open

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As widely expected, Boris Johnson won the leadership contest with a margin of 66%. Euro hits a two month low, while CAD trades on the defensive.

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US
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The US Dollar is rallying after the NY Fed walked back comments from John Williams last week. How dovish will the Fed be at the bank's highly-expected rate cut?
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EURO
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Sterling traders will be eagerly waiting for the announcement of the new UK Prime Minister while the US Dollar may rise after the IMF releases its updated economic outlook.
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ASIA
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The US Dollar appreciated on less-dovish Fed monetary policy bets as Middle East tensions fueled risk aversion, leaving the S&P 500 with numerous bearish reversal warning signs.
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