Forex Today: US Manufacturing Grows while the Fed and BoJ Intervene

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ISM Manufacturing PMI Numbers in the US Surprise; The Federal Reserve Joins the Bank of Japan in Intervention; Palantir Jumps Massively After Earnings Beat; Bitcoin Trader Deal with a New Hack; Boeing Jumps After FAA Approval; US/Iran Talks Still in Question While Crude Oil Reacts

1. The ISM Manufacturing PMI numbers come out hotter than anticipated in the United States on Monday, flying in the face of the “cooling” narrative that traders have been applying to the US economy, and by extension, the US dollar. The reading for July rose to 55.6 from 53.3 during the previous month.

2. USD/JPY and other yen-related pairs have been trying to stabilize after it was acknowledged that the Federal Reserve joined the Bank of Japan in selling the USD and other currencies against the yen to help stabilize the Japanese currency.

3. Palantir has launched 12% after hours on Monday, as the earnings call posted better than expected on the top and bottom line. Earnings per share came in at $0.41 vs. $0.35 expected. The revenue number was $1.94 billion vs. $1.80 billion. Palantir is helping to drive overnight futures higher in the NASDAQ 100 after hours.

4. Bitcoin traders around the world have woken up to bad news. This time it isn’t in the price of BTC, it’s another safety issue. Coldcard hardware wallets have been drained of over $88.6 million in the last couple of days, as an exploit to its hardware wallet has been exposed. The exploit is ongoing, and there have been roughly 600 suspected attacker addresses identified.

5. Boeing jumped over 8% on Monday, helping lead the Dow Jones 30 higher, as the FAA has cleared for commercial service the smallest of Boeing’s 737 Max planes, the 737 Max 7.

6. The situation between the United States and Iran continues to see a lot of questions, as President Trump has stated that the Iranians want to talk, yet Tehran insists there are no talks, and there is no real progress being made. This is the same situation we have seen play out multiple times recently, as one side says one thing, and the other denies it. Crude Oil has opened higher in Asian trading early on Tuesday, as traders had initially sold to kick off the week.

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