The chart continues to spell out the dangers for Bitcoin
Bitcoin is still largely consolidating between the range of $30,000 and $40,000 in the bigger picture of things but with every passing day, things are not shaping up too well for the cryptocurrency – at least from a technical perspective.

The risk mood keeps steadier so far today
European indices are a little mixed after having opened up with slight gains only to see some choppy action during the session.

NZD/USD holds above 0.7000, trades near the highs at 0.7025
The pair is once again looking to try and hold a break above 0.7000 but after the failure to hold above the figure level earlier in the week, there is room for trepidation.

Latest data released by Eurostat – 16 July 2021

OPEC comments in its latest monthly report
If anything, the headline is what stands out and that just means that they will be pushing ahead with easing output cuts in the months ahead. That also reaffirms the more bullish outlook in the oil market going into next year.

The dollar is picking up some momentum ahead of North American trading
Fresh lows for commodity currencies, in particular the antipodeans as the dollar is seeing a bid going into US trading today.

Further remarks by Saunders
The final remark was when he was questioned on whether stopping QE early would damaged the central bank’s credibility. I guess this pretty much reveals which side of the camp he is on, but we’ll have to see how many others adopt a similar position.

BOE Saunders says ending QE is a possibility in the forthcoming meetings and that rate hikes could follow next year
That has seen cable come to life in a move from 1.3840 to a session high of 1.3884 as buyers also push for a move above the 100-hour moving average (red line):

Remarks by BOE policymaker, Michael Saunders
The talk on rate hikes is also something that will be welcome by sterling bulls as Saunders is already floating the possibility – albeit one that will be a limited, gradual rise.

Forex news from the European trading session – 14 July 2021
Headlines:
Markets:
– NZD leads, USD lags on the day
– European equities lower; S&P 500 futures up 0.1%