USD/JPY kicks off the new week on positive note and reverses Friday’s retracement slide. The Fed-BoJ policy divergence continues to lend some support amid renewed USD buying. Intervention fears might cap the upside ahead of this week’s important releases from the US. (FXStreet)

EUR/JPY is aiming to jump above 157.80 as ECB is expected to tighten policy further. Inflation in Eurozone is turning critical as the headline and core CPI is showing wide deviation. BoJ Himino conveyed that signs of cost-push inflation are easing and demand-driven inflation is taking some place. (FXStreet)

Euro kicks in the week on the back foot on US Dollar recovery. Stocks in Europe open the week within tight ranges. EUR/USD slips back below the 1.0900 support on Monday. Final Manufacturing PMIs take centre stage later in the session. in the limelight in NA trading hours. (FXStreet)

The index trades with small gains above the 103.00 mark. US markets will be closed due to Independence Day on Tuesday. US ISM Manufacturing PMI takes centre stage later on Monday. The greenback, in terms of the USD Index (DXY), starts the week on the positive foot and looks to reclaim the 103.00 hurdle in convincing fashion on Monday. (FXStreet)

EUR/GBP remains pressured, mostly inactive, after two-day downtrend amid sluggish markets. Trader’s wait for Eurozone/UK PMIs for June also restrict immediate EUR/GBP moves. Mixed EU data raise doubts on hawkish ECB talks but fears of UK recession prod EUR/GBP bulls. Hoes of easing British employment crunch, challenges for ECB rate hikes keep sellers hopeful. (FXStreet)

USD/CAD struggles for clear directions between 50-EMA and 12-day-old resistance line. Previous resistance line, 200-EMA acts as additional trading filters. Bearish MACD signals challenge recovery from yearly low, lures Loonie pair sellers. (FXStreet)

USD/CHF is struggling in keeping its auction above 0.8920 amid weakness in the USD Index. S&P500 futures are showing choppy moves as investors are getting cautious ahead of the quarterly result season. US Manufacturing PMI is expected to continue its seven months contraction further. (FXStreet)

AUD/USD oscillates in a narrow trading band through the early European session on Monday. A goodish pickup in the USD demand is seen as a key factor acting as a headwind for the pair. The downside seems limited ahead of the RBA on Tuesday and this week’s key US macro data. (FXStreet)

NZD/USD has sensed marginal selling pressure around a three-day high at 0.6160. Investors are awaiting the release of the US ISM Manufacturing PMI data for further guidance. NZD/USD is approaching the downward-sloping trendline plotted from June 15 high at 0.6250. (FXStreet)

USD/IDR is looking for stability above 15,000 amid a decline in Indonesian inflation. US equities were heavily bought on Friday as the street is anticipating that the Fed might go with only one interest rate hike. US Manufacturing PMI is expected to continue its contracting spell due to higher interest rates from the Fed. (FXStreet)

USD/INR prints the biggest daily loss on a day, so far, since early June on breaking the key support. India reports the biggest FPI inflow of 2023 in June, up for the fourth consecutive month. Firmer Oil price, mixed sentiment and softer US inflation gauge prod Indian Rupee traders. FOMC Minutes, US NFP will be crucial for clear directions. (FXStreet)

Prices of the barrel of WTI reclaimed the key $70.00 region on Friday, extending the recovery for the third straight session at the same time. The improvement in prices, however, was amidst shrinking open interest, removing some strength from the continuation of the rebound in the very near term. Immediately to the upside still emerges the weekly high around $72.70 (June 21). (FXStreet)

Friday’s uptick in prices of the natural gas was amidst diminishing open interest, which hints at the idea that further upside appears out of favour in the very near term. In the meantime, the $3.00 region per MMBtu (March tops) continues to offer tough resistance to occasional bullish moves in the commodity. (FXStreet)

Friday’s marked uptick in gold prices was on the back of rising open interest and a strong drop in volume. That said, while further gains appear on the cards in the very near term, a sustained bounce seems not favoured. On the downside, the yellow metal faces immediate support around the $1890 region per troy ounce. (FXStreet)

Silver struggles to preserve its modest intraday gains to a four-day peak. Acceptance above the 100-hour SMA favours bulls and should limit losses. A convincing break below the $22.50 area could negate the positive bias. (FXStreet)

Source: FXStreet

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