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).

The British Pound (GBP) snaps a two-day correction against the Japanese Yen (JPY) on Monday, rebounding to near 218.60 during the European trading session. The cross faced selling pressure in the past two trading days after profit-booking near multi-year highs at 219.61.

United Overseas Bank’s (UOB) Quek Ser Leang highlights that USD/JPY retains an intraday upside bias, with resistance at 162.75 and major resistance at 163.00 unlikely to be threatened. Over 1–3 weeks, the pair is expected to stay within a 161.30–163.00 band.

United Overseas Bank’s (UOB) Quek Ser Leang sees EUR/USD consolidating with a slight downside bias intraday, expecting moves within 1.1405–1.1450. Over 1–3 weeks, the Euro is still viewed with an upside bias as long as 1.1405 holds, though momentum toward 1.1520 remains uncertain.

The GBP/USD pair rebounds around 30 pips from the Asian session low on Monday, snapping a two-day losing streak amid a modest US Dollar (USD) downtick.

Germany Producer Price Index (YoY) fell from previous 2.2% to 1.8% in June

Germany Producer Price Index (MoM) came in at -0.3% below forecasts (-0.2%) in June

The NZD/USD pair holds positive ground near 0.5855 during the early European session on Monday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as softer US inflation data have led traders to cut bets on imminent rate hikes from the US Federal Reserve (Fed). 

USD/CAD extends its losses for the second successive day. trading around 1.4010 during the Asian hours on Monday. The technical analysis of the daily chart indicates the pair is moving downward within the descending channel, suggesting an ongoing bearish bias.