The US Dollar Index (DXY) remains neutral near the 100.90 level at the end of the American session on Monday as investors digest hawkish comments from Federal Reserve (Fed) Governor Christopher Waller and resilient United States (US) services data.
The Australian Dollar (AUD) extends its rally into a third straight trading session, up 0.25% on Monday, as investors adjust their interest rate expectations for the Federal Reserve (Fed) following a soft US jobs report last week.
BNY’s Geoff Yu stresses that Chinese equities and Chinese Yuan (CNY) remain heavily under-owned versus APAC (Asia-Pacific) peers, with cross-border holdings at very low levels.
Societe Generale’s Kunal Kundu analyzes Indonesia’s May 2026 trade data, highlighting the first deficit since the pandemic and a record Oil and Gas shortfall.
NZD/USD trades under pressure near the 0.5700 level as the US Dollar (USD) remains supported by hawkish-leaning comments from Federal Reserve (Fed) Governor Christopher Waller and resilient United States (US) services data.
Gold (XAU/USD) price retreats by some 0.50% on Monday as the Greenback remains steady despite traders repricing a less hawkish Federal Reserve (Fed) following last Thursday’s softer-than-expected jobs report. The XAU/USD pair trades at $4,153, down 0.50%.
The US Dollar Index (DXY) trims its gains on Monday after opening the week on a firmer note, as traders await greater clarity on the Federal Reserve's (Fed) interest rate path before placing fresh directional bets.
West Texas Intermediate (WTI) has spent three weeks handing back what the war spent three months building, and the tape now reads as though February never ended.
Rabobank’s FX Strategy team discusses the New Zealand Dollar (NZD) ahead of the July 8 Reserve Bank of New Zealand (RBNZ) meeting, where consensus and the bank expect a 25 bp hike to 2.5%.
The Dow Jones Industrial Average (DJIA) finally crossed 53,000 on Monday, spiking to a record just above the handle in the opening minutes and holding it for roughly the length of the ceremony that produced it.
Gold (XAU/USD) consolidates losses on Monday as a firmer US Dollar (USD) and mild profit-taking cap gains following last week's rebound from a more than seven-month low of $3,941.
USD/CHF gains 0.37% on Monday, trading around 0.8060 at the time of writing, as the US Dollar (USD) rebounds despite slightly softer expectations for further monetary tightening by the Federal Reserve (Fed).
USD/JPY trades around 162.30 on Monday at the time of writing, up 0.58% on the day, extending its rebound after last week's pullback.
The Pound Sterling (GBP) steadies during the North American session on Monday as the week begins in a risk-off mood, evidenced by overall US Dollar (USD) strength in the FX markets, despite soft jobs data last week that trimmed hawkish Federal Reserve (Fed) bets for the rest of the year.
Scotiabank strategists Shaun Osborne and Eric Theoret note GBP/USD near 1.3338 is steady versus the US Dollar (USD) and outperforming on crosses despite weak construction Purchasing Managers' Index (PMI) data.
The Euro (EUR) trades on the back foot against the US Dollar (USD) on Monday as investors return after the extended US Independence Day weekend. At the time of writing, EUR/USD is trading around 1.1421, down 0.12% on the day.
European Central Bank (ECB) Executive Board member Isabel Schnabel said on Monday that the Eurozone is not back to a pre-war situation, even after the recent decline in Oil prices.
Federal Reserve (Fed) Governor Christopher Waller said on Monday that forward guidance can strengthen the impact of monetary policy when used properly, but warned that it can also become problematic if it limits policymakers’ flexibility.
AUD/USD trades with a cautious tone, sideways near the 0.6930 level on Monday after Australian inflation data showed further easing price pressures, while mixed United States (US) services figures kept the US Dollar (USD) broadly supported but without strong momentum.
United Overseas Bank’s (UOB) Quek Ser Leang indicates USD/CNH has seen a slight softening in momentum but remains confined to a narrow intraday band of 6.7800–6.7930. Over the next 1–3 weeks, the bank expects range trading between 6.7750 and 6.8080 as earlier Dollar strength has faded.
BNY’s Geoff Yu notes that crowded exposure to Latin American (LatAm) bonds is unwinding as higher U.S. yields drive a domestic repricing of real-rate risks. The bank sees flows rotating toward regional equities and maintains a constructive tactical view on Latin American carry.
Silver (XAG/USD) pauses a four-day winning streak on Monday as buyers take a breather following last week's 5.55% rally. A firmer US Dollar (USD) is also capping the precious metal's upside.
USD/CAD extends its advance for a second consecutive day and trades around 1.4230 at the time of writing on Monday, up 0.20% on the day.
Scotiabank strategists Shaun Osborne and Eric Theoret note EUR/USD around 1.1418 trading softer against the US Dollar, though mid-pack within G10. Euro area Producer Price Index (PPI) and retail sales were in line with expectations, while German factory orders surprised higher.
The Australian Dollar (AUD) is confronting a notable shift in market momentum as fresh domestic data points to cooling inflation.
TD Securities projects US output growth to move sideways in 2026, slightly below trend, with Real Gross Domestic Product (GDP) at 2.0% Q4/Q4 and unemployment around 4.3%. The Iran conflict and an oil shock pose stagflationary risks, while AI and high-income consumers support demand.
Commerzbank’s Dr. Marco Wagner notes that German manufacturing orders rose 1.9% in May, or 1.0% excluding large orders, pointing to an upward trend. He argues this supports a moderate recovery in German industry and a slight recovery in the broader German economy after a likely small Q2 decline.
Economic activity in the US service sector lost some momentum in June, with the ISM Services PMI easing to 54.0 from 54.5 in the previous month, matching analysts' expectations.
Scotiabank strategists Shaun Osborne and Eric Theoret describe USD/CAD around 1.4215 as consolidating, with the Canadian Dollar retaining a soft undertone despite narrower US–Canada front-end spreads.
GBP/JPY edges higher on Monday, climbing to levels last seen in January 2008 as the Japanese Yen (JPY) remains under pressure across the board. The Yen resumed its decline after a brief pullback last week, with USD/JPY climbing back to its highest level in four decades.
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