Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Australian Household Spending Dips in December as RBA Tightens Policy 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The U.S. Treasuries remained resilient on Monday as investors wait to watch the summit between President Donald Trump and his Russian counterpart Vladimir Putin, scheduled to be held later today. Also, the country’s retail sales data for the month of June, due to be released today by 12:30GMT, will be eyed upon for extra insights into the debt market.
The yield on the benchmark 10-year Treasuries remained tad higher at 2.83 percent, the super-long 30-year bond yields hovered around 2.93 percent and the yield on the short-term 2-year traded 1/2 basis point higher at 2.58 percent by 11:15GMT.
The main event in the US this week will arguably be Fed Chairman Jerome Powell’s semi-annual testimony to Congress, the first leg of which takes place before the Senate Banking Committee tomorrow. The second leg before the House Financial Services Committee will follow on Wednesday, when the Fed’s Beige Book will also be released. The Q2 corporate reporting season will also begin to heat up with 7 DJI and 59 S&P500 companies scheduled to state their earnings.
Turning to the US economic data, the advance retail sales report for June and the New York’s Fed’s manufacturing survey for July are due later today. Tomorrow we will receive the IP report for June and the NAHB housing index for July.
On Wednesday attention turns to the housing market with the housing starts and permits report for June. The Philadelphia Fed’s manufacturing survey for July and the Conference Board’s leading index for June are released on Thursday. In the bond market the US Treasury will auction 10-year TIPS on Thursday.
Meanwhile, the S&P 500 Futures slipped 0.06 percent to 2,801.50 by 11:25GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at -90.30 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
