UOB’s Quek Ser Leang notes that USD/CNH has seen a slight pickup in downward momentum, but still expects the pair to remain range-bound. The bank now looks for a lower intraday band around 6.7820–6.7940, while its 1–3 week view stays neutral, with USD/CNH likely to trade between 6.7750 and 6.8080.

Commerzbank highlights that strong Singapore manufacturing and electronics PMIs underpin a constructive growth outlook, with Q2 GDP expected to exceed Q1’s 6% expansion. Against this backdrop, USD/SGD has eased slightly but remains near this year’s highs.

Societe Generale notes that stronger-than-expected China PMI data suggest slow but steady growth, reducing urgency for the PBoC to ease policy. The bank highlights that USD/CNY has fallen back below its 50-day moving average as Yuan strength reflects robust exports supported by the global AI boom.

UOB’s Quek Ser Leang notes that USD/SGD’s sharp drop toward 1.2900 looks overdone, but the pair may still test support near 1.2890 in the near term before stabilising.

Societe Generale economist Kunal Kundu explains that the Reserve Bank of India’s revised Standardised Approach for credit-risk capital will tie regulatory risk weights to both borrower ratings and each agency’s historical default performance from April 2027.

Royal Bank of Canada (RBC) economists Claire Fan and Nathan Janzen assess the implications of the U.S. decision not to extend CUSMA (Canada-United States-Mexico Agreement) on July 1st.

Wells Fargo Economics expects Japan’s May labor cash earnings to confirm a sustained wage-price cycle, supporting Bank of Japan (BoJ) policy normalization.

TD Securities strategists highlight that the June United Kingdom (UK) Decision Maker Panel (DMP) survey shows one‑year inflation expectations easing while three‑year expectations stay near 3%.

Societe Generale economists Sam Cartwright, Michel Martinez and Jorge Garayo note that Euro area inflation has not yet shown indirect effects from the energy shock in food or goods prices.

Rabobank strategists Bas van Geffen and Lyn Graham-Taylor note that the European Central Bank (ECB) is reportedly considering raising the minimum reserve requirement from 1% to 2%, primarily as a cost-reduction measure.

Mexico Consumer Confidence s.a climbed from previous 43.5 to 43.8 in June

Mexico Consumer Confidence rose from previous 43.1 to 43.8 in June

TD Securities strategists expect the ISM Services index to retreat in June after May’s gain, pointing to broad-based slowing in US activity and new orders while employment remains in contraction.

Wells Fargo Economics sees Canada’s labor market as soft but stabilizing after a strong May rebound, with employment growth under 1% year over year and gains concentrated in full-time jobs.

Wells Fargo Economics expects Mexico’s June CPI to confirm gradual disinflation, with headline and core inflation easing but services prices still sticky.

Societe Generale notes that CEE FX is being shaped by diverging inflation and policy signals across the region.

A report from the Bank of England (BoE) decision maker panel (DMP) has shown that businesses’ year-ahead expected own-price inflation was 4.1% in the three months to June, 0.1% point higher than firms reported in the three months to May.

United Kingdom S&P Global Services PMI above forecasts (48.7) in June: Actual (48.8)

United Kingdom S&P Global Composite PMI came in at 49.3, below expectations (49.4) in June

Deutsche Bank strategists Jim Reid and colleagues note that a softer US jobs report reduced expectations for further Federal Reserve tightening in 2026, with just 30 bps of hikes priced by December.

Italy Retail Sales n.s.a (YoY) increased to 2.2% in May from previous 1.6%

Italy Retail Sales s.a. (MoM) came in at 0.2%, above expectations (0.1%) in May

EUR/CAD gains ground for the second successive day, trading around 1.6230 during the European hours on Friday. The currency cross appreciates as the Euro (EUR) rises ahead of the release of HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone later in the day.

Wells Fargo Economics, led by Tom Porcelli and colleagues, expects the June FOMC minutes to clarify what might push a divided Committee toward further tightening, but still sees the Federal Reserve keeping the funds rate unchanged.

Japan's Chief Cabinet Secretary Minoru Kihara reiterates, during the European session on Friday, that the administration is closely monitoring FX moves and is ready to intervene when needed. Kihara also said on Tuesday that officials are always ready to take the necessary action on forex.

Spain HCOB Services PMI came in at 54.2, above expectations (50.9) in June

Turkey Exports up to $24.94B in June from previous $22.5B

Turkey Consumer Price Index (MoM) in line with expectations (0.99%) in June

Turkey Consumer Price Index (YoY) came in at 32.11%, above forecasts (32.1%) in June

Spain Industrial Output Cal Adjusted (YoY): 3.4% (May) vs 2%