Morning wrap (19.07.2021)

• Downbeat moods can be spotted in Asia. Nikkei fell 1.15%, Kospi lost 0.90% and S&P/ASX 200 moved 0.78% lower. Indices from China are also under pressure.
• DAX futures point to a slightly lower opening of the European session
• OPEC+ decided to increase the oil supply from August until December 2021 by a further 2 million bpd or 0.4 million bpd a month. 
• Russian Deputy Prime Minister Novak says the country will return to pre-COVID output in May 2022
• Australia's will extended lockdown of its second second-most populous state Victoria
• New Zealand services PMI for June 58.6 (previous 56.1)
• Bitcoin trades near $31,500 mark
• Precious and industrials metals trade mixed, oil pulls back
• USD and JPY are the best performing major currencies while CAD and AUD lag the most

GOLD fell sharply on Friday and is currently testing the lower limit of the ascending channel which coincides with 50 SMA (green line). Should break lower occur, downward move may accelerate towards support at $1800. Source: xStation5