1️⃣ Asian stocks were mixed as investors anticipated that the latest spikes in coronavirus cases would not stymie the global economic recovery.
1️⃣ Investors turned to safe-haven currencies (USD, JPY, CHF) as concerns about the spread of the highly contagious Delta Covid-19 variant continue to weigh on investor sentiment.
2️⃣ Meanwhile, NZD, AUD, and CAD pressured the most amid the risk-off sentiment.
1️⃣ WTI crude to fall below $72 a barrel amid worries that the OPEC deadlock may prompt producers to flood the market with petroleum. On Monday, OPEC+ talks to increase production by 400,000 bpd per month from August through December collapsed, with no new meeting scheduled.
2️⃣ Gold traded around $1,800 per ounce after FOMC minutes revealed that Fed officials are still divided on whether or not to cut their mortgage bond purchases.
Economic Data Focus On Today
1️⃣ FOMC Meeting Minutes for June (02:00 Malaysia Time) — No Prediction — No prediction from the central bank.
2️⃣ German Trade Balance for May (14:00 Malaysia Time) — Bullish Prediction — Should be boosted by further restrictions eased.
3️⃣ ECB Meeting Minutes for June (19:30 Malaysia Time) — No Prediction — No prediction from the central bank.