Market News
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British Pound: Range-bound against US Dollar with steady BoE expectations â Scotiabank
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.
Euro weakens as markets reassess Fed and ECB rate outlook
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.
ECBâs Schnabel: Current shock cannot simply be looked through
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.
Fedâs Waller: Forward guidance can be âvaluable toolâ but may become a hindrance
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 policymakersâ flexibility.
Australian Dollar trades sideways after softer Australian inflation
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.
Chinese Yuan: Sideways trade within defined band against US Dollar â UOB
United Overseas Bankâs (UOB) Quek Ser Leang indicates USD/CNH has seen a slight softening in momentum but remains confined to a narrow intraday band of 6.7800â6.7930. Over the next 1â3 weeks, the bank expects range trading between 6.7750 and 6.8080 as earlier Dollar strength has faded.
LatAm FX: Rotation favors equities and carry â BNY
BNYâs 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.
Canadian Dollar dips despite rising Oil prices amid firm US Dollar
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.
Euro: Soft tone against US Dollar with stable ECB expectations â Scotiabank
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.
Australian Dollar retreats toward 0.6900 amid renewed signs of cooling inflation
The Australian Dollar (AUD) is confronting a notable shift in market momentum as fresh domestic data points to cooling inflation.
United States: Sideways growth, sticky inflation â TD Securities
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.
Germany: Gradual industrial recovery prospects â Commerzbank
Commerzbankâs 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.
United States ISM Services Prices Paid down to 67.7 in June from previous 71.3
United States ISM Services Prices Paid down to 67.7 in June from previous 71.3