FX Weekly Update

?? Monday Market Update: Cautious Start Amid Key Developments ??

As we kick off the week, markets are displaying caution following news of an assassination attempt on former President Donald Trump. ?? The economic calendar for today lacks high-impact data releases, but all eyes will be on Federal Reserve Chairman Jerome Powell’s speech at the Economic Club of Washington later today. ???

Key Highlights:

• The US Dollar Index consolidates above 104.00 after last week's sharp decline.
• Benchmark 10-year US Treasury bond yield fluctuates above 4.2%.
• US stock index futures trade modestly higher.

Asia:

• China's Q2 GDP grew at 4.7% annually, missing expectations of 5.1%.
• Retail Sales rose 2% YoY in June, below the forecast of 3.3%.
• Industrial Production increased by 5.3%, down from 5.6% in May.

Forex:

• AUD/USD remains slightly below 0.6800 amid disappointing Chinese data.
• EUR/USD consolidates around 1.0900 after gaining over 0.6% last week.
• GBP/USD trades slightly below 1.3000 after rising over 1% for the second consecutive week.
• USD/JPY struggles below 158.00 following significant losses last week.

Commodities:

• Gold (XAU/USD) holds steady above $2,400 despite small losses on Friday.

Stay tuned for more updates and market insights! ????

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