A cautious but calm start to week with soft equities, U.S. 10yr yields at 2.48%, and a rise in the USD. The focus is geopolitics but with the link into markets blurred the reaction is only one of caution. This week’s focus will be the unfolding geopolitics, earnings, where25% of the S&P will release and global inflation prints. The Fed has enteredits quiet period with the Fed meeting on July 30th; today’s only data release is Chicago Fed, expected to dip to 0.18.
Read the full report: FX Daily