OCBC Bank strategists Sim Moh Siong and Christopher Wong highlight that the US Dollar (USD) remains supported by its yield advantage and safe-haven status, with FX moves still fitting the USD smile framework.
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said on Tuesday that the June Consumer Price Index (CPI) report was encouraging but cautioned against overreacting to a single month of data.
Dow Jones futures lose 0.12% to trade around 52,840 during European trading hours on Monday. Meanwhile, S&P 500 futures and Nasdaq 100 futures fall 0.45% and 1.30%, trading near 7,580 and 29,640, respectively.