Preview: Due July 17 - U.S. June Industrial Production - Two straight sundued months after a strong April

July 2, 2026 3:51 PM UTC

We expect an unchanged June industrial production outcome with a marginal 0.1% increase in manufacturing. This will be a second straight subdued month but still leaving a healthy Q2 given a strong increase in April.

Preview: Due July 17 - U.S. June Housing Starts and Permits - Multiple starts to bounce, but trend is slowing

July 2, 2026 3:01 PM UTC

We look for June housing starts to bounce by 13.0% to 1.33m to correct a sharp 15.4% plunge seen in May, with most of the move again due to the volatile multiples component. We expect permits to suggest a modestly negative underlying trend, falling by 2.1% to 1.38m.

FX Daily Strategy: Asia, Jul 3

July 2, 2026 3:00 PM UTC

Quiet Calendar Sees Focus Back at Middle Easy
DXY Further consolidation
USD/JPY and the Silent Interventions

U.S. Fed's Daly - Favors a cautious approach

July 2, 2026 1:39 PM UTC

Fed's Daly appears to favor steady policy for now while major developments, including the spread of AI, are considered.

U.S. June Employment - Upside May surprise offset, but unemployment falls on lower labor force

July 2, 2026 1:20 PM UTC

June’s non-farm payroll is weaker than expected with a 57k increase, 49k private, with downward revisions to April and May. The slowing is consistent with an upturn in the initial and continued claims trends, though both were almost unchanged (-1k to 215k and +2k to 1.814m respectively)  in the l

U.S. June Employment - Charts and table

July 2, 2026 1:19 PM UTC

Payrolls trending around 100k per month, which is stronger than the labor force trend.

EUR/USD, USD/JPY - miss on payrolls trims Fed bets, pulls dollar back

July 2, 2026 12:43 PM UTC

Payrolls misses, especially with revisions and, even with unemployment dip, gives the Fed more space to stay on hold
Takes some wind out of the dollar's sail, and makes USD/JPY exit look well timed

Psychology for major markets July 2

July 2, 2026 10:17 AM UTC

USD/JPY self-policing ahead of holiday, long liquidation

Europe Summary and Highlights 2 Jul

July 2, 2026 10:10 AM UTC

USD/JPY down 1.5 figs after jittery market pares into holiday, wary of MoF guerrilla tactics 
EUR/GBP extends the range breakdown

FX Daily Strategy: N America, Jul 2

July 2, 2026 9:02 AM UTC

Payrolls in focus. Probably needs a 100k+/- surprise to prompt excitement
Friday's US holiday does indeed leave mkt wary of Japan intervention, and prompts early covering
EUR/GBP also does break key support, stretching sterling short covering

USD/JPY flows: Spoofy action to become occupational hazard

July 2, 2026 8:27 AM UTC

Specific trigger for quick USD/JPY dip unclear as yet
But burst of short yen covering had been expected prior to US holiday
And spoofing is likely to become increasingly common - both MoF and market generated

Chart GBP/JPY Update: Retest 216.00/60 highs

July 2, 2026 7:38 AM UTC

Break above resistance at 215.50 has seen extension to tag the 216.00 figure

Chart EUR/AUD Update: Settled back from test of 1.6600/20 resistance

July 2, 2026 7:23 AM UTC

Choppy recovery from the 1.6110 May current year low has met with selling pressure at the 1.6600/20 resistance

Chart AUD/NZD Update: Retracing the June gains

July 2, 2026 6:54 AM UTC

Under pressure as prices extend pullback from the 1.2255 high of last week

EUR/USD, USD/JPY, EUR/GBP flows: Cross consolidates break lower; dollar waits for payrolls

July 2, 2026 6:46 AM UTC

Waiting game ahead of payrolls holiday, some wariness over MoF
Dollar also checked since Warsh's comments
EUR/GBP the main interest in recent hours with the range breakdown

Chart USD/TWD Update: Extending May gains

July 2, 2026 5:52 AM UTC

Break above resistance at the 31.700/31.800 area has seen gains to approach the 32.000 figure

Chart USD/IDR Updates: Retracing June losses

July 2, 2026 5:13 AM UTC

Edging higher as prices extend bounce from the 17690 June low towards the 18000 level

Chart USD/INR Update: Extend corrective bounce from June low

July 2, 2026 4:58 AM UTC

Turned up in consolidation from the 94.1450 low has seen break above the 95.0000 level to retest the 95.2250 March high

Asia Summary and Highlights 2 July

July 2, 2026 4:17 AM UTC

Australian May Trade Balance Miss
U.S., Iran end Doha talks with no breakthrough

USD/JPY flows: Silent Intervention Soon?

July 2, 2026 4:11 AM UTC

Reuter cited sources that Japanese officials are moving away from telegraphing intervention risk and toward unsignalled action designed to squeeze speculative yen short positions

FX Daily Strategy: Europe, Jul 2

July 2, 2026 3:56 AM UTC

Payrolls in focus. Probably needs a 100k+/- surprise to prompt excitement
Friday's US holiday may leave mkt wary of Japan intervention, prompt some early covering
EUR/GBP still sitting on key support, risk of break remains

Chart USD/KRW Update: Consolidating below 1560.00 high

July 2, 2026 2:48 AM UTC

Break above 1550.00 has seen gains to approach 1560.00 high and channel resistance from 2025 year low

AUD/USD flows: Poor May Trade Data

July 2, 2026 2:17 AM UTC

Australian May Trade Balance Miss
U.S., Iran end Doha talks with no breakthrough

Chart USD/SGD Update: Consolidating, room for lower later

July 2, 2026 2:11 AM UTC

Turned up from test of the 1.2930/17 support as prices consolidate losses from the 1.2985 high