Market Roundup
• Canada GDP (MoM) (Apr): 0.5%, 0.4% forecast, -0.1% previous.
• Canada GDP (MoM) (May): 0.1%, 0.5% previous.
• US Redbook (YoY): 10.5%, 10.0% previous.
• US S&P/Case-Shiller 20-City HPI YoY (Apr): 1.1%, 0.9% forecast, 0.9% previous.
• US S&P/Case-Shiller 20-City HPI MoM (Apr): 1.0%, 1.1% previous.
• US House Price Index (MoM) (Apr): -0.1%, 0.2% forecast, 0.2% previous.
• US House Price Index (YoY) (Apr): 2.0%, 1.8% previous.
• US S&P/Case-Shiller 20-City HPI s.a. (MoM) (Apr): 0.0%, -0.2% previous.
• US House Price Index (Apr): 441.4, 441.8 previous.
• US Chicago PMI (Jun): 56.7, 55.7 forecast, 62.7 previous.
• US JOLTS Job Openings (May): 7.594M, 7.280M forecast, 7.585M previous.
• US CB Consumer Confidence (Jun): 91.2, 94.4 forecast, 90.6 previous.
Looking Ahead Economic Data (GMT)
• 02:30 Australia Building Approvals (MoM) (May): 0.5%, -3.4% previous.
• 02:30 Australia Building Approvals (YoY) (May): 23.1% previous.
• 02:30 Australia Private House Approvals (May): -1.0% previous.
• 02:45 China Caixin Manufacturing PMI (Jun): 51.9 forecast,, 51.8 previous.
•Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro dipped lower on Tuesday a resurgent dollar pushed the euro lower. The dollar has been supported by markets seeing a higher chance of Federal Reserve rate hikes. U.S. inflation is well above target, the economy is growing and policymakers' new quarterly projections show nine out of 19 anticipate a rate hike by year-end.The dollar index , which measures the U.S. currency against six other units, clawed back some of its overnight losses to be last at 101.32, set for a 1.4% rise in the quarter after gaining 1.6% in the first three months of 2026.The euro dipped 0.26% to $1.1398, not far from the one-year low it hit last week.On the data front, Germany’s retail sales rose 1.1% month-on-month in May 2026, rebounding from a revised 0.4% decline in the previous month and defying market expectations for a 0.1% fall. Immediate resistance can be seen at 1.1450(38.2%fib), an upside break can trigger rise towards 1.1510(SMA20).On the downside, immediate support is seen at 1.1343(38.2%fib), a break below could take the pair towards 1.1283(Lower BB).
GBP/USD: The pound dipped on Tuesday as stronger dollar offset upbeat UK GDP data. Investors are amassing bullish positions on dollar at a record pace thanks to a remarkable re-pricing of the U.S. interest rate outlook, which has flipped from cuts to hikes, due to the surprising strength of the U.S. economy and persistent inflationary pressures beyond energy prices. Official figures released by the UK's Office for National Statistics (ONS) showed that gross domestic product (GDP) grew by 0.6% in the January-to-March period, in line with market expectations and unchanged from the preliminary estimate published last month. The reading marked a significant acceleration from the 0.2% expansion recorded in the final quarter of 2025, reinforcing expectations that the UK economy has entered the year on a stronger footing. Immediate resistance can be seen at 1.3276(38.2%fib), an upside break can trigger rise towards 1.3316(SMA 20).On the downside, immediate support is seen at 1.3151(23.6%fib), a break below could take the pair towards1.3122(Lower BB).
USD/CAD: The Canadian dollar firmed against the U.S. dollar after domestic data showed stronger-than-expected economic growth .Canada's economy grew 0.5% in April, the strongest monthly gain in nine months, easing concerns over a deeper tariff-driven slowdown.Economists had forecast a gain of 0.4%, while a preliminary estimate for May showed growth of 0.1%.The Trump administration is expected to formally announce on Wednesday that it will not renew the USMCA (CUSMA in Canada), triggering a 10-year countdown to wind down the North American trade pact.Immediate resistance can be seen at 1.4255(23.6% fib), an upside break can trigger rise towards 1.4316(Higher BB).On the downside, immediate support is seen at 1.4178(June 29 low), a break below could take the pair towards 1.4117(38.2%fib).
USD/JPY: The U.S. dollar held firm on Tuesday as yen slumped to levels not seen since 1986 , leaving traders on alert for any potential intervention from Japan to shore up the persistently weak currency. Japan reiterated on Tuesday that authorities stood ready to respond to currency moves, keeping the rhetoric unchanged despite the yen's slide to a four-decade low..The yen has shrugged off bouts of intervention worth 11.7 trillion yen ($72.25 billion) and interest rate hikes from the Bank of Japan in the past few months as the Iran war stoked inflationary worries and derailed the global rates outlook.The Japanese currency was set for a 2% drop in the second quarter, its fourth straight quarter of decline, its longest such streak since 2022. Immediate resistance can be seen at 162.59(23.6%fib) an upside break can trigger rise towards 162.86 (Higher BB) .On the downside, immediate support is seen at 161.21(Daily low) a break below could take the pair towards 160.13(SAM 20).
Equities Recap
European stock indices closed at record highs on Tuesday as softer inflation data reinforced expectations of lower interest rates, boosting sentiment toward corporate earnings.
UK's benchmark FTSE 100 closed up by o.12percent, Germany's Dax ended up by 1.50 percent, France’s CAC finished the day up by 0.44 percent.
The S&P 500 and Nasdaq ended June on Tuesday with their strongest quarterly gains since 2020, as optimism over economic and earnings growth outweighed concerns about the Middle East conflict.
Dow Jones closed up by 0.26% percent, S&P 500 closed up by 0.78 % percent, Nasdaq settled up by 1.52% percent.
Commodities Recap
Gold edged higher on Tuesday but remained on track for its steepest quarterly decline in 13 years, as inflation concerns linked to the Middle East conflict reinforced expectations that the Federal Reserve could raise interest rates..
Spot gold rose 0.3% to $4,027.03 per ounce by 1:40 p.m. ET (1740 GMT) after hitting its lowest level since November earlier. Prices slid 11.2% in June so far.U.S gold futures settled largely unchanged at $4,038.50 per ounce.
Oil prices were little changed on Tuesday but remained on track for their steepest monthly and quarterly declines since early 2020, as investors monitored potential U.S.-Iran talks in Doha and a fragile ceasefire in the four-month conflict..
Brent futures fell 23 cents, or 0.3%, to settle at $72.92 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.25, or 1.8%, to settle at $69.50 a barrel.
