ING analysts Chris Turner, Frantisek Taborsky and Francesco Pesole note that higher energy prices and tensions in the Gulf are supporting the Dollar against low-yielding currencies. They highlight that US energy independence and live Fed tightening prospects underpin Dollar strength.

A spokesperson from the Iranian Foreign Ministry has confirmed in the European trade on Monday that efforts from Qatar, Oman, and Pakistan to mediate tensions with the United States (US) continue.

Societe Generale’s Kenneth Broux notes that Brent has sharply rebounded after defending the late-February low around $69 and is now testing the 200-day moving average and a descending trendline.

TradingKey - Às 10h ET de terça-feira (13 de julho), o presidente do Fed, Warsh, testemunhará perante o Comitê de Serviços Financeiros da Câmara, enfrentando o questionamento dos parlamentares sobre o

Deutsche Bank strategists highlight that the S&P 500 closed at 7575, gaining 0.42%, after a strong week supported by stabilising chip stocks and a rebound in the Philly semiconductor index.

ING’s Chris Turner highlights that USD/JPY is grinding higher above 162 as higher energy prices pressure Asian currencies. He notes that Japanese authorities may follow a similar intervention pattern to last year, with potential action ahead of the Marine Day holiday.

Turkey Current Account Balance came in at $-1.459B, below expectations ($-0.96B) in May

Here is what you need to know on Monday, July 13:

Japan currently has no immediate plans to change target asset allocations of its state pension funds but could work within existing allowable ranges to direct more investment to domestic assets, people with knowledge of government deliberations told Reuters.

Most Asian equities trade in negative territory on Monday amid renewed geopolitical tension in the Middle East after reports of US-Iran airstrikes and Tehran's closure of the critical Strait of Hormuz. 

USD/IDR gains ground after registering losses in the previous day, trading around 18,180 during the Asian hours on Monday. The US Dollar (USD) appreciated as intensifying geopolitical tensions in the Middle East sparked a wave of safe-haven demand.

NZD/USD depreciates after three days of losses, trading around 0.5750 during the Asian hours on Monday. The currency pair holds onto its losses as the New Zealand Dollar (NZD) remains subdued, failing to find immediate support despite a positive turnaround in local economic data.

West Texas Intermediate (WTI) oil price rises after two days of losses, trading around $74.20 during the Asian hours on Monday.

New Zealand Business NZ PSI rose from previous 47.5 to 50.6 in June

The US Central Command (CENTCOM) said that it launched additional strikes against Iran on Sunday aimed at further weakening the Islamic Republic’s ability to strike civilian vessels transiting the Strait of Hormuz, Bloomberg reported.

TradingKey - Na próxima semana, os mercados globais darão as boas-vindas à primeira verdadeira "Supersemana" do segundo semestre do ano. Uma agenda densa de dados cruciais de inflação e consumo dos EU

DBS economists Radhika Rao and Mo Ji forecast Singapore’s advance 2Q26 Gross Domestic Product (GDP) growth at 5.8% year-on-year and 1.5% quarter-on-quarter seasonally adjusted, slightly below 1Q26 but still resilient.

Commerzbank’s report on Taiwan notes that stronger inflation, with core CPI at 2.5%, is likely to push the CBC towards a more hawkish stance, including a possible 12.5 bp hike in H2.

DBS economists Radhika Rao and Mo Ji expect the Bank of Korea (BoK) to raise its base rate to 2.75% from 2.50% in July, citing persistent CPI inflation above 3% and resilient growth.

Eurozone CFTC EUR NC Net Positions dipped from previous €1.1K to €-16.2K

United States CFTC S&P 500 NC Net Positions fell from previous $-37.6K to $-42.9K

United States CFTC Gold NC Net Positions: $194.2K vs $194K

United States CFTC Oil NC Net Positions: 75.7K vs previous 110.5K

Australia CFTC AUD NC Net Positions down to $-24.7K from previous $-17.7K

United Kingdom CFTC GBP NC Net Positions climbed from previous £-102.1K to £-87.9K

Japan CFTC JPY NC Net Positions up to ¥-123.8K from previous ¥-155.1K

MUFG’s Lloyd Chan notes Bank Negara Malaysia (BNM) kept the Overnight Policy Rate (OPR) at 2.75% and expects it to stay on hold through 2026, with domestic fundamentals described as broadly supportive.

Commerzbank analysts highlight that China’s June Consumer Price Index (CPI) slowed to 1.0% year-on-year while Producer Price Index (PPI) rose 4.1%, widening the PPI-CPI gap and squeezing downstream margins.

The Federal Reserve released its monetary policy report, in which the US central bank acknowledged that inflation remains elevated and that the labour market is broadly stable, a signal that the price stability goal hasn’t been achieved.

UOB’s Quek Ser Leang notes USD/SGD remains range-bound, with intraday action expected between 1.2905 and 1.2940 as recent price moves provided no fresh directional clues.