The USD/JPY pair surges past the critical 162.00 psychological threshold, hitting a fresh four-decade high during the Asian session on Tuesday. However, expectations of a possible intervention by Japanese authorities cap further upside.

New Zealand ANZ Business Confidence increased to 36.6 in June from previous 10

United Kingdom BRC Shop Price Index (YoY) below forecasts (1.3%) in June: Actual (1.2%)

Japan Industrial Production (YoY) down to -1.7% in May from previous 2%

Japan Industrial Production (MoM) below expectations (1.1%) in May: Actual (0.5%)

Japan Unemployment Rate in line with expectations (2.5%) in May

Japan Jobs / Applicants Ratio below expectations (1.18) in May: Actual (1.17)

Gold price (XAU/USD) declines to around $4,015 during the early Asian session on Tuesday. The precious metal extends its downside as inflationary pressure raised expectations that central banks would keep interest rates higher for longer.

South Korea Service Sector Output increased to 1.3% in May from previous -1%

UOB’s Senior Technical Strategist Quek Ser Leang expects USD/CNH to remain confined in a tight near-term range, with the Dollar likely to trade between 6.7950 and 6.8100. Despite easing upward momentum, UOB still sees scope for a move toward 6.8300 while 6.7900 holds as strong support.

European Central Bank (ECB) President Christine Lagarde delivered an introductory speech at the ECB Forum on Central Banking 2026 on Monday, warning that the Eurozone is likely to face more frequent shocks in the coming years that could move inflation away from the ECB’s target.

US Treasury yields steadied on Monday during the North American session, as tensions in the Middle East halted the decline in crude Oil prices, while money markets are still pricing in at least 34 basis points of Federal Reserve tightening in 2026.

United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD slipped to 1.2929 before recovering, with intraday price action still seen as range trading. For the day, the pair is expected to stay between 1.2930 and 1.2960.

OCBC’s Sim Moh Siong and Christopher Wong expect Asian FX to start the week on a softer footing as AI-led equity losses and renewed US–Iran tensions keep the Dollar bid.

United States Dallas Fed Manufacturing Business Index down to 0 in June from previous 0.4

Commerzbank analysts Charlie Lay and Dr. Henry Hao highlight that China’s industrial profit growth slowed to 21.1% year-on-year in May, with weaker consumption and investment pointing to easing momentum.

TradingKey - Devido ao feriado do Dia da Independência dos EUA em 3 de julho, o relatório de emprego não agrícola (payroll) de junho, originalmente agendado para sexta-feira, será divulgado antecipada

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of  Sintra this week. The European Central Bank (ECB) Forum will, as it does every year, gather the crème de la crème of central banks.

ING’s Global Head of Macro Carsten Brzeski warns that recurring European heatwaves are becoming a structural drag on Eurozone growth. He cites academic and ECB research showing measurable losses in output and higher food inflation linked to extreme temperatures.

Rabobank's Senior FX Strategist Jane Foley discusses EUR/USD within a broader reassessment of Dollar drivers. Foley notes that even if the US Dollar (USD) is in long-term decline, cyclical forces can still support it.

Guntermann at Commerzbank notes that while Oil prices near pre-war levels reduce tail risks for growth, inflation and rate volatility, Euro area inflation is not falling fast enough to dispel European Central Bank (ECB) hawkishness.

United Kingdom (UK) Greater Manchester Mayor Andy Burnham has stated during the European trading session on Monday that his plans after getting the leadership position would be consistent with Labour’s 2024 manifesto.

India Cumulative Industrial Output increased to 5.1% in May from previous 4.1%

India Industrial Output rose from previous 4.9% to 5.1% in May

India Manufacturing Output declined to 5.5% in May from previous 6.2%

ING strategist Frantisek Taborsky notes that a stronger Dollar and lower Oil have led markets to outprice most rate hikes in Poland and the Czech Republic, adding pressure on regional FX.

Belgium Consumer Price Index (YoY) down to 3.4% in June from previous 4.08%

Belgium Consumer Price Index (MoM): 0.3% (June) vs -0.08%

Iranian Deputy Foreign Minister Kazem Gharibabadi has stated in a post on X, formerly known as Twitter, that Tehran has concluded a meeting with Oman in which review current issues related to the Strait of Hormuz, a critical chokepoint to almost 20% of global energy supply.

Eurozone Consumer Confidence meets expectations (-17.7) in June