CFTC positioning data
One of the big theories on the drop in Treasury yields in the past month or so is that it was a big squeeze on shorts.
If so, it might be over.

Keep on knocking and they’ll eventually let you in
Cable is down 63 pips to the low of the session at $1.3765. That’s the worst level of the week and it will leave GBP/USD just above the cluster of lows that stretches down to 1.3731.

Looks like we
Barring an incredible turnaround, it looks like we’re going to close on the lows of the week in US equities.
The S&P 500 is down 26 points to 4334.

Forex news from the European trading session – 16 July 2021
Headlines:
Markets:
– NZD leads, JPY lags on the day
– European equities mixed; S&P 500 futures up 0.2%

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.