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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

FOREX
FOREX: Quiet start to the week, headlines expected to drive
- With Japan out for the Marine Day holiday, volumes remained light amid narrow
range trade.
- The quiet theme spilled over into Europe with headlines from Brexit and the
Putin-Trump summit expected to drive. The USD is marginally lower across the
board with SEK the stand out performer (+0.38), closely followed by NZD & GBP.
- EURUSD picked up fresh demand in early Europe, squeezed to $1.1707, but failed
to take out resistance at $1.1710. Traders reported accts that were buying
EURUSD at $1.1620 on Friday were also active this morning on breaks of $1.1700.
- GBP held $1.3226-60 for the balance of the session. This week brings a raft of
data release including CPI, Labour market report & Retail Sales which could
cement/draw questions over a BoE rate hike at the August MPC.
- Bullish divergence on the 14-day RSI around the 94.55/60 area cushioned DXY in
early Europe, gains extended to 94.65/70.
- Modest gains witnessed in the EM space today, RUB, MXN & HUF the standouts.
The Forint looks set to register its 3rd straight day of gains, last Huf322.00.