Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), edged lower to 2% in June from 2.1% in May, Destatis' flash estimate showed on Monday.

Gold (XAU/USD) is entering the week below $3,300 at the time of writing on Monday as markets brace for heightened volatility ahead of Friday’s US Independence Day holiday. 

The Indian Rupee (INR) trades on the back foot against the US Dollar (USD) on Monday, weighed down by month-end Greenback demand, capital outflows, and a mild rebound in Crude Oil prices. This pullback comes after the Rupee notched its strongest weekly performance since January 2023.

Germany Consumer Price Index (MoM) came in at 0%, below expectations (0.2%) in June

Germany Consumer Price Index (YoY) dipped from previous 2.1% to 2% in June

South Africa Trade Balance (in Rands) climbed from previous 14.08B to 21.67B in May

Germany Harmonized Index of Consumer Prices (MoM) below forecasts (0.3%) in June: Actual (0.1%)

Germany Harmonized Index of Consumer Prices (YoY) came in at 2%, below expectations (2.2%) in June

The Japanese Yen (JPY) is up 0.3% against the US Dollar (USD) and outperforming all of the G10 currencies as we enter Monday’s NA session.

US Dollar (USD) is likely to trade in a range of 7.1590/7.1780 against CNH (Chinese Yuan). In the longer run, there has been a tentative buildup in momentum; USD is likely to edge lower toward 7.1450, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The EUR/USD pair is trading sideways on Monday, consolidating near the multi-year highs, at 1.1750 reached last week.

The Pound Sterling (GBP) is soft and entering Monday’s NA session with a marginal 0.1% decline against the US Dollar (USD), trading just below last week’s multi-year highs, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The current price movements appear to be part of a range trading phase between 144.05 and 145.00. In the longer run, US Dollar (USD) appears to have moved into a range trading phase between 143.50 and 146.50 against Japanese Yen (JPY), UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The Canadian Dollar (CAD) slumped Friday following news that President Trump was suspending trade walks with Canada in response to the Digital Services Tax which was due to come into force this week, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar is unable to put any significant distance from last week’s long-term low at  0.7960 area, as the pair remained capped below 0.8000 on Monday, with hopes of trade deals and reviving fears about the US fiscal health weighing on the Greenback’s recovery.News that the US and China have rea

The Euro (EUR) is entering Monday’s NA session unchanged against the US Dollar (USD) as it consolidates in a tight range in the mid-1.17s just below last Friday’s multi-year high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar (USD) is steady to slightly lower at the start of what may be a relatively quiet and somewhat disjointed week, given holidays in North America, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

USD/CNH continued to trade in subdued ranges near its recent lows. Consistent trend of CNY fix being set stronger, relatively upbeat PMIs, confirmation of trade deal framework between US and China as well as a softer USD environment should continue to point to a more constructive outlook for RMB.

The markets are increasingly optimistic about the prospect of a permanent reduction in US tariffs after the end of the 90-day moratorium, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

New Zealand Dollar (NZD) is likely to consolidate between 0.6040 and 0.6080 against US Dollar (USD). In the longer run, NZD is likely to test the 0.6090 level; it is too early to determine if it can break clearly above this level, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The US Dollar has bounced up from three-year lows on Monday, but remains depressed below the 97.00 level.

The Chinese Purchasing Managers' Index, published this morning, shows a slight improvement, though it remains at a low level.

There has been no increase in either downward or upward momentum; Australian Dollar (AUD) is expected to trade in a sideways range of 0.6505/0.6555 against US Dollar (USD). In the longer run, there is potential for AUD to test 0.6595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

LME Copper has regained strong upward momentum after clearing the 50-day moving average, setting the stage for a potential move toward multi-month highs, Société Générale's FX analysts note, Société Générale's FX analysts note.

The first half of July could prove pivotal for the FX market, with three events in focus: the Senate vote on the "One Big Beautiful Bill Act" (OBBBA), which US President Donald Trump wants passed by 4 July, Thursday’s US jobs data, and the expiration of the reciprocal tariff pause on 9 July.

Pound Sterling (GBP) is expected to trade in a sideways range of 1.3670/1.3750 against US Dollar (USD). In the longer run, outlook remains positive but GBP may consolidate for a couple of days first; the next technical objective is 1.3800, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Gold (XAU/USD) is bouncing higher on Monday, but the broader trend remains bearish, following a nearly 3% decline last week.

India Cumulative Industrial Output fell from previous 4% to 1.8% in April

India Manufacturing Output fell from previous 3.4% to 2.6% in May

India Industrial Output below forecasts (2.4%) in May: Actual (1.2%)