What you need to know on Tuesday, July 6:
The week started in slow motion amid a holiday in the US that kept local markets closed. The greenback held around Friday’s lows against most major rivals, but near multi-month highs. Further declines seem unclear.
UK Prime Minister Boris Johnson announced all restrictive measures would be lifted on July 19, including the use of masks and social distancing rules. He also noted that people will no longer be instructed to work from home, despite surging coronavirus cases. A final decision will be made on July 12. The country reported an increase in hospitalizations in the last 48 hours, although the levels are still far below the peaks from last year.
Markit final versions of its Services PMIs for the EU indicated substantial growth in June. US data will be out on Tuesday.
Crude oil prices soared as the OPEC+ meeting was postponed once again. Pretty much that…