The effects of the pandemic continue to reverberate in Japan
Private sector members of a key government panel has called for the federal government to step up aid to small firms seeking to raise wages as part of efforts to prop up spending on tourism, restaurants and other sectors impacted by the pandemic.

Forex news from the European trading session – 20 July 2021
Headlines:
Markets:
– CAD leads, NZD lags on the day
– European equities higher; S&P 500 futures up 0.6%
It was a quiet session in terms of headlines as the market sought a bit of a breather after the sharp and heavy moves seen yesterday – where risk trades

Keep an eye on the bond market
European indices have trimmed its earlier advance and while US futures also did briefly pull back a little, the modest gains are still maintained for the most part as we start to move towards North American trading later.

A look at what is on the board for today
Just one to really look out for, as highlighted in .
bold
That could limit any topside plays before rolling off later in the day but as things stand, sentiment overrides everything else in the market so I would argue that it would be best not to be

Easy come, easy go
10-year yields have now fallen back down to 1.174% after having settled around 1.20% to 1.21% in early European trading.
With this, USD/JPY has also erased its earlier advance from 109.70 to fall to session lows now just under 109.40. European indices have also largely erased its earlier advance with US futures trimming

The market breathes in an air of calm so far in European trading
After the sharp declines yesterday and the deterioration of the risk mood, things are looking calmer today with European indices up by around 0.8% to 1.0% while US futures are also gaining modest ground; S&P 500 futures up 0.5%.

Bitcoin stays in a precarious spot to start the new week
Essentially, nothing has changed for Bitcoin since my last post .
here
It is down 1.5% on the day, keeping below $32,000 but added downside pressure is still hard to come by as the $30,000 level still holds for the time being.

USD/CAD hits 1.2800 for the first time since 5 February
The march higher in USD/CAD continues as buyers extend the upside break after (blue line) earlier in the day.

Remarks by BOE policymaker, Jonathan Haskel
– That is the case for the foreseeable future
– Immense support might have helped economy avoid deep scarring
– Risk of preemptive monetary tightening continues to outweigh the risk of temporary period of above-target inflation
The last line pretty much tells us where he stands and that somewhat contrasts with the remarks

10-year Treasury yields fall by close to 5 bps to 1.25%
The brief retreat early last week proved to be nothing more than what the name suggests as the series of lower highs and lower lows continues for Treasury yields.