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%

The ECB takes the next step towards a digital euro
The phase will last up to 24 months and aims to address key issues regarding design and distribution of a digital euro. ECB president Lagarde remarks:

Reuters with the headline, citing an OPEC+ source
WTI falls 1.5% to $74.10 but this is a dip worth buying into in my view as much of this is already priced in and it doesn’t really shake up the fundamentals by much.