Posted at 07 July 2026 / Categories Market Roundups
Market Roundup
•Japan Household Spending (YoY) (May) -0.4%, -2.3% forecast,-0.5% previous
•Japan Household Spending (MoM) (May) 3.7%, 1.4% forecast, 1.6% previous
•Japan Overall wage income of employees (May)3.2%,3.4% forecast, 3.6% previous
•Japan Overtime Pay (YoY) (May) 2.90% , 4.80% previous
•Japan Leading Index (MoM) (May) 0.7%, 0.7% previous
•Japan Coincident Indicator (MoM) (May) 0.4% , 1.3% previous
•Japan Leading Index (May) 116.8,116.9 forecast, 116.1 previous
Looking Ahead Economic Data (GMT)
•09:00 Spanish 12-Month Letras Auction 2.543% previous
•09:00 Spanish 6-Month Letras Auction 2.376% previous
Looking Ahead Events And Other Releases (GMT)
• 10:30 UK BoE MPC Meeting Minutes
Currency Forecast
EUR/USD : The euro dipped against dollar on Tuesday as investors awaiting minutes of the U.S. Federal Reserve's June meeting for insight into Chair Kevin Warsh's monetary policy direction.Traders now see about ?a 56% chance of a rate increase in September, down from more ?than 60% ?before the data, according to the CME FedWatch tool. Forward guidance can be a "valuable tool" that speeds the impact of monetary policy under the right circumstances, though it can be a problem when used inflexibly, Fed Governor Christopher Waller said on Monday. Immediate resistance can be seen at 1.1475(SMA 20), an upside break can trigger rise towards 1.1495(50%fib).On the downside, immediate support is seen at 1.1368(38.2%fib), a break below could take the pair towards 1.1291(Lower BB).
GBP/USD: The pound eased on Tuesday as investors shifting their attention to the minutes of the Federal Open Market Committee's (FOMC) June meeting, due on Wednesday, for clues on the U.S. rate outlook.Fed watchers will get another glimpse into how new Chair Kevin Warsh steers the central bank when it releases Federal Open Market Committee minutes on Wednesday, the first of his tenure. Meanwhile, President Donald Trump said on Monday the United States would either reach a deal with Iran or "finish the job," renewing his threat of military action as Tehran projects defiancefollowing the funeral of former Supreme Leader Ayatollah Ali Khamenei. Immediate resistance can be seen at 1.3389(Daily high), an upside break can trigger rise towards 1.3485(50%fib).On the downside, immediate support is seen at 1.3343(38.2%fib), a break below could take the pair towards1.3296(SMA 20).
AUD/USD: Australian dollar dipped against dollar on Monday investors shifting their attention to the minutes of the Federal Open Market Committee's (FOMC) June meeting, due on Wednesday, for clues on the U.S. rate outlook. The Federal Open Market Committee's ?June 16-17 ?meeting minutes will be released on Wednesday. U.S. services sector activity dipped in June as some of the boost from businesses rushing to place orders amid the Middle East war ebbed, but employment rebounded after contracting for three ?straight months, pointing to continued labor market stability. Oil edged higher, but gains were limited as traders turned their attention to supply increases and demand prospects after prices hit pre-Iran war levels on Monday.Immediate resistance can be seen at 0.6952 (38.2%fib), an upside break can trigger rise towards 0.6986(SMA 20).On the downside, immediate support is seen at 0.6882(61.8%fib), a break below could take the pair towards 0.6822(Lower BB).
USD/JPY: The dollar eased against yen on Tuesday as investors remained on watch for intervention amid signs of a possible shift in strategy by Japanese authorities.The absence of official action despite the pair trading at elevated levels has reinforced market confidence that the yen may weaken further in the near term.From a fundamental perspective, persistent demand for U.S. dollars from Japanese importers is expected to continue supporting USD/JPY. Retail investors in Japan also remain active buyers of foreign assets, maintaining underlying demand for the dollar.. Immediate resistance can be seen at 162.73(23.6%fib) an upside break can trigger rise towards 163.00(Psychological level) .On the downside, immediate support is seen at 160.81(38.2%fib) a break below could take the pair towards 159.58(50%fib).
Equities Recap
Asian stocks declined on Tuesday, with South Korea leading losses after Samsung Electronics' forecast triggered a reassessment of stretched valuations tied to the AI trade, while oil prices largely stabilised as investors refocused on supply and demand.
Japan’s Nikkei 225 was down by 2.04% , Hang Seng was down at 0.60 %, China A50 was down at 0.38
Commodities Recap
Oil prices edged higher on Tuesday as traders looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects.
Brent crude futures gained 85 cents, or 1.2%, to $72.84 a barrel, while U.S. West Texas Intermediate crude rose 74 cents, or 1.1%, to $69.29 a barrel as of 0645 GMT, after settling down at around pre-Iran war levels ?on Monday.
Gold prices eased on Tuesday as the U.S. dollar and Treasury yields rose, with investors awaiting minutes of the U.S. Federal Reserve's June meeting for insight into Chair Kevin Warsh's monetary policy direction.
Spot gold fell 0.9% to $4,127.59 per ounce by 0639 GMT, while U.S. ?gold futures for August delivery eased 0.7% to $4,139.50.