Global markets started the week cautiously as investors monitored renewed US-Iran tensions and awaited key US economic data, including June’s Nonfarm Payrolls report.
USD/CAD slipped for a third consecutive session to around 1.4180 after retreating from a 14-month high of 1.4248. Despite the decline, the pair remains in a bullish trend, although its RSI of 75.3 points to overbought conditions. Support is seen at 1.4155, while resistance remains at 1.4248.
USD/JPY traded near 161.80, holding below the key 162.00 level as traders remained alert for possible Japanese government intervention. The pair’s RSI of 71.6 also signals overbought conditions, while investors await US employment data that could influence the Federal Reserve’s next move.
WTI crude oil fell below $70, trading around $69.80, as uncertainty surrounding renewed US-Iran negotiations weighed on prices. Meanwhile, ING noted that speculative long positions in ICE Brent fell by 23,790 contracts to 90,338, the lowest level since December 2025, suggesting bearish momentum remains despite geopolitical risks.
The US Dollar Index (DXY) edged lower by 0.16% to around 101.20, while markets continued to assess expectations that the Federal Reserve could keep interest rates higher for longer.
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