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CB holds rates unchanged as expected. Neutral statement. Some expected a more hawkish one. LaGarge presser next.
<p style=”text-align: center;”>Source: Try Newsquawk free for 7 days</p>GBPUSD 4 hour: What’s driving the GBP bus?
Momentum down but GBPUSD holding above key 1.3342 and 1.3322 supports.
A break of the rendline and 1.3395 would needed to break momentum.
Who’s driving the HBP bus?
EURGBP is drivng.
Offsets from EURGBP selling helped drive GBPUSD to the 1.3558 high
Offsets from a bounce in EURUSD has been a factor in the GBPUSD retreat.
Note, EURGBP has come off its earlier high, easing selling pressure on GBPUSD and removing a source of EURUSD demand.
Newsquawk Daily US Opening News – 23rd July 2026
- US Secretary of State Rubio said Iran was intending to double missile stockpile and that it looks like Iran is not ready to make a deal. He added that the price on Iran will get higher every night until they come to their senses but that Iran is begging to reach a deal.
- Yemeni Houthis targeted two Saudi oil tankers in the Red Sea, while reports noted that at least 9 ships have stopped passing through Bab al-Mandeb, following the blockade on Saudi ports by Houthis.
US equity futures are softer across the board as Alphabet raises AI Capex guidance and STMicroelectronics misses Q3 revenue guidance estimates.
DXY rangebound, AUD outperforms after a strong jobs report. - Fixed income lower but off worst levels as energy prices continue to drive price action (Brent +4.5%).\
- Looking ahead, highlights include Canadian Retail Sales (May), US Initial Jobless Claims (Jul/18), Chicago Fed National Activity Index (Jun), EU Consumer Confidence Flash (Jul). Policy Announcements from the ECB, CBRT, and SARB. Comments from ECB President Lagarde. Supply from the US. Earnings from Intel, Blackstone, Lockheed Martin & SAP.
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XAUUSD (GOLD) 4 HOUR: XAUYUSD wakes up
After ignoring higher US yields, XAUUSD has woken up today.
This follows the pause below 4180 and move below 4106 (see chart), which breaks the momentum for the last leg up.
However, to break the back of the rebound off the 3942 low and shift the focus back to 4000, the 4 hour trendline and 4044 would need to be broken
Forex Market Snapshot: Calm before the next storm?
While Middle East hostilities expand, oil continues to rise and US yields follow, the dollar has stayed on the sidelines, trading another lackluster session overnight.>
USDJPY has cautiously extended its 40-year high with fear of triggering a Bo J attack retraining the move.
EURUSD yet to shake a focus from 1.14 after running stops on the upside overnight, which has raised questions whether it is trading bid in n offered market or vice versa.
AUDUSD has extended its pivot around ..7000 for the7th day in a row. Range over this time has been .6965-.7027
Underperformers: NZD, JPY
COMING UP: Data: South Korean GDP (Q2), Australian Jobs Report (Jun), Canadian Retail Sales (May), US Initial Jobless Claims (Jul/18), Chicago Fed National Activity Index (Jun), EU Consumer Confidence Flash (Jul).
Events: CBRT Policy Announcement (Jul), ECB Policy Announcement (Jul), SARB Policy Announcement (Jul). Speakers: ECB President Lagarde. Supply: UK, US.
Earnings: Intel, Blackstone, Lockheed Martin, RTX, TotalEnergies, BNP Paribas, STMicroelectronics, Thales, SAP, Roche, Nokia, Repsol (Newsquawk.com)
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