On Tuesday, 19th of July, the key currency pair USD/JPY trades on negative area. Currently, the pair trades near to the level of 105.88 by losing 0.23%.
As MarketWatch reports, “The greenback strengthened sharply against the yen Monday as relative calm returned to the currency market after a failed military coup attempt in Turkey”.
Turkish President Recep Tayyip Erdogan said Saturday morning that the government is in charge and he is in power, after the country is smarting from a coup attempt overnight.
The eased worries led investors to unwind a surge of safe-haven trades and to buy higher-risk currencies like the U.S. dollar.
The greenback USDJPY has risen sharply against the yen so far this month—recording its largest weekly gain since 1999 on Friday—as the immediate fallout from the U.K.’s vote to leave the European Union has been less severe than many investors anticipated, stoking a rally in risky assets like stocks, and declines in safety plays like the yen and gold.
The yen strengthened late Friday as the coup attempt in Turkey stoked a global flight to safety. But it turned lower overnight as Japanese officials hinted that the Bank of Japan could further expand its already unprecedented stimulus efforts at a policy meeting later this month.
The resistance levels for the yen are 106.35 and 106.55
The support levels for the USD/JPY are following 105.04 and 103.26
On Tuesday 19th of July, Crude prices fell more than 1 percent in the previous session after concerns about potential supply disruptions eased in the wake of Friday's attempted coup in Turkey.
U.S. crude, known as West Texas Intermediate (WTI), slipped 13 cents to $45.11 a barrel as of 8.21 p.m. ET after settling down 71 cents, or about 1.6 percent, in the previous session.
As Reuters reports, "Oil prices fell as concerns over supply disruptions in Turkey subsided. Crude continued to flow through Turkey unhindered after the failed coup, according to the country’s Energy Minister," ANZ said in a note on Tuesday”.
"Weaker energy prices will continue to weigh on the wider complex in coming days. However, the impact of supply disruptions in several markets is still expected limit the downside," the note added”.
However, U.S. shale oil production is expected to fall in August for a tenth straight month - by 99,000 barrels per day to 4.55 million bpd, according to the U.S. Energy Information Administration's (EIA) drilling productivity report released on Monday.
Further weighing on supply, U.S. commercial crude oil inventories likely fell by 2.2 million barrels from 521.8 million barrels in the week ended July 15, a preliminary Reuters poll of analysts showed on Monday.
The resistance levels for US Crude oil are $45.42 and $46.01
The support levels for the oil are following $44.61 and $44.02