TD Securities strategists note that softer Canadian Consumer Price Index (CPI) is lifting USD/CAD as rate divergence remains a key driver. They argue broad US Dollar (USD) strength should limit USD/CAD downside below 1.40 and see higher Oil prices as CAD-supportive on crosses but not versus USD.

HSBC strategists argue AUD/USD has room to rise into 2027, supported by Australia’s relatively high cash and government bond yields, which make the Australian Dollar attractive on a carry basis within G10 FX.

NZD/USD moves higher on Monday and trades around 0.5850 at the time of writing, up 0.14% on the day, as the US Dollar (USD) weakens following the latest US inflation data.

United Overseas Bank’s (UOB) Quek Ser Leang reports GBP/USD slipping but lacking strong downside momentum, with intraday trade expected between 1.3420 and 1.3475. The prior bullish view has faded after a break of 1.3450 support, and the pair is now seen in a 1.3385–1.3495 range.

USD/CAD edges higher on Monday as softer-than-expected Canadian inflation data and a firmer US Dollar (USD) weigh on the Canadian Dollar (CAD), while tensions in the Middle East keep financial markets volatile. At the time of writing, the pair is trading around 1.4045, up 0.17% on the day.

Brown Brothers Harriman’s (BBH) Elias Haddad expects Australia’s June labor force report to show a modest 15k job gain and unemployment steady at 4.4%, slightly above the Reserve Bank of Australia's (RBA) projection.

HSBC strategists see NZD/USD supported by New Zealand’s strengthening growth data and an aggressive Reserve Bank of New Zealand (RBNZ) hiking path. The RBNZ has begun raising rates and HSBC Economics projects 25bp hikes per quarter to 3.50% by Q3 2027.

DBS Group Research’s Philip Wee argues that the Euro (EUR) may find support in coming weeks as markets reassess geopolitical risks and central bank divergence.

The Euro (EUR) trades marginally lower to near 1.1432 against the US Dollar (USD) during the European trading session on Monday. The major currency pair edges down as the US Dollar recovers its early losses.

Brown Brothers Harriman’s (BBH) Elias Haddad expects New Zealand Q2 Consumer Price Index (CPI) to remain well above target, with quarterly and annual readings only slightly below the RBNZ’s own projections.

The Australian Dollar (AUD) appreciates against the US Dollar (USD) on Monday, as comments from Iranian Foreign Minister Esmaeil Baghaei offered a glimmer of hope for de-escalation in Iran and pushed Oil prices down from one-month highs.

BNY’s Geoff Yu reports that the Reserve Bank of India (RBI) has intervened onshore and offshore to support the Indian Rupee (INR) as USD/INR trades close to its all‑time high.

OCBC strategists Sim Moh Siong and Christopher Wong argue recent British Pound (GBP) strength looks stretched as markets price in fiscal discipline from the new UK government under Andy Burnham.

GBP/JPY wavers around 218.50, with bears contained above previous highs at 218.00.

BNY’s Geoff Yu argues that Euro (EUR) assets show emerging value as the European Central Bank (ECB) holds policy and inflation pressures ease, but stresses that Purchasing Managers’ Index (PMI) data and earnings must confirm stable growth.

EUR/JPY trades around 185.70 on Monday at the time of writing, showing little direction after a quiet start to the week.

MUFG’s Lee Hardman highlights the Pound as the best performing major currency in recent weeks, supported by higher UK real yields and favourable carry conditions.

The Japanese Yen (JPY) trades marginally higher against the US Dollar (USD) during the European trading session on Monday.

ING’s Chris Turner highlights that with Brent above $90, EUR/USD might normally trade below 1.14, but tighter correlation between energy and short-dated Euro swap rates is offering support.

Eurozone Construction Output s.a (MoM): 0.4% (May) vs previous 0.6%

Eurozone Construction Output w.d.a (YoY) climbed from previous 0.9% to 1.2% in May

The Canadian Dollar (CAD) holds gains near one-month highs against the US Dollar (USD) on Monday.

The USD/CHF pair turns lower for the second straight day following an intraday uptick to the 0.8100 neighborhood and touches a fresh daily low during the first half of the European session on Monday.

GBP/USD gains ground after two days of losses, trading around 1.3470 during the European hours on Monday.

The AUD/USD pair hits a fresh daily high during the early part of the European session on Monday, with bulls now looking to build on the intraday move up beyond the 0.7000 psychological mark amid a weaker US Dollar (USD).

According to the European Central Bank’s (ECB) Survey on the Access to Finance of Enterprises (SAFE), more than 5,000 firms that participated have downplayed expectations for an increase in selling prices.

The New Zealand Dollar (NZD) resumed its broader bullish trend against the US Dollar (USD) on Monday, following a mild pullback over the previous two trading days.

The Euro (EUR) holds its early recovery move at around 1.1450 against the US Dollar (USD) during the European trading session on Monday.

Societe Generale technical analysts highlight that USD/CAD failed to sustain a break above 1.4130, triggering a deeper pullback. The pair is drifting towards the 50-DMA and March peak near 1.3970, seen as key support.

Commerzbank’s Thu Lan Nguyen expects EUR/USD to see limited drivers from United States (US) data or Federal Reserve (Fed) communication this week, putting focus on the European Central Bank (ECB).