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.

OCBC strategists Christopher Wong and Sim Moh Siong note that the European Central Bank's (ECB) June minutes justified the latest rate hike while keeping flexibility on future moves. Since then, Oil prices have fallen sharply and June Consumer Price Index (CPI) surprised on the downside.

DBS economists Radhika Rao and Mo Ji project China’s Gross Domestic Product (GDP) growth to slow from 5.0% year-on-year in Q1 to 4.8% in Q2.

Royal Bank of Canada (RBC) economist Nathan Janzen notes that Canadian labour markets showed further signs of stabilisation in June, following a stronger improvement in May. Employment rose modestly, while per-worker conditions improved and the unemployment rate edged down to 6.5%.

ING economists Deepali Bhargava and Lynn Song project India’s consumer inflation to edge up to 4.2% year-on-year in June, while wholesale inflation moderates to 9%.

Societe Generale analysts Dev Ashish and Brendan McKenna note that Mexico’s June inflation data surprised to the downside, with headline and core measures moving close to Banxico’s target range.

Qatar has dispatched negotiators to Iran for meetings with Iranian officials in a renewed diplomatic effort to de-escalate tensions and create conditions for broader negotiations to continue, according to a Reuters report citing a source familiar with the matter.

OCBC strategists Christopher Wong and Sim Moh Siong note that the New Zealand Dollar (NZD) outperformed after stronger manufacturing data and hawkish Reserve Bank of New Zealand (RBNZ) commentary reinforced expectations for further tightening.

Royal Bank of Canada (RBC) analysts Abbey Xu and Rachel Battaglia report that June spending by RBC Canadian cardholders remained relatively stable, with core retail sales up modestly. Discretionary goods led gains, while essential spending including gasoline also contributed.

Commerzbank economists Dr. Jörg Krämer and Bernd Weidensteiner argue that the AI-driven investment surge in US high-tech and IT is substantial but not yet excessive compared with past booms.

Canada Net Change in Employment came in at 18.2K, above forecasts (10K) in June

Canada Unemployment Rate came in at 6.5%, below expectations (6.6%) in June

Canada Building Permits (MoM) climbed from previous -7.6% to -1.7% in May

Canada Participation Rate remains unchanged at 65% in June

Wells Fargo economists Tom Porcelli and Sarah House discuss upcoming BEA changes to the Personal Consumption Expenditures (PCE) Price Index that will affect data from 2021 onward.

Mexico Industrial Output (YoY) came in at -0.7%, below expectations (-0.1%) in May

TD Macro Research expects the Canadian labour market to soften in June, with employment unchanged versus market expectations for a 10k gain after May’s 87.8k surge.

India Bank Loan Growth: 18.6% (June 15) vs 17.7%

Portugal Global Trade Balance: €-8.705B (May) vs previous €-8.563B

ING’s Francesco Pesole notes the US Dollar (USD) has been broadly unchanged despite renewed Middle East tensions, as Oil has retraced and risk sentiment improved.