Asian Recap: JPY Soars As Investors Worry About Rising COVID-19 Delta Cases
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MARKET RECAP
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1️⃣ Asian stocks were mixed as investors anticipated that the latest spikes in coronavirus cases would not stymie the global economic recovery.
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FOREX RECAP
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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.
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COMMODITIES RECAP
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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.
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Economic Data Focus On Today
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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.