CAD is outperforming ahead of its Q2 GDP release, JPY and AUD are weak, and most of the remaining G10 currencies are consolidating ahead of the NA session. For EUR and GBP, shifting technicals and improved releases hint toward near term stabilization—the highlight being an unexpected improvement to euro area core inflation with a rise to 0.9% y/y. The broader market tone is neutral, despite elevated geopolitical risk as equity futures find support and gold prices fall. The US 10Y yield is consolidating within a narrow range and oil prices are showing modest gains.
Read the full report: FX Daily