The outlook for US indices is still bullish, but headwinds like stubborn inflation data, inflation expectations, a less inclusive rally, and a seasonal consolidation limit the extent that indices are likely to rise in Q3

US inflation cooled in Q2 as did economic growth, opening the door to a rate cut later this year. US yields have likely peaked, leaving the dollar vulnerable to a dovish repricing

The Australian dollar has been one of the standouts in the FX space for a couple of weeks now, propped up by rising inflation and higher inflation expectations

Japan’s top currency official stepped up rhetoric around the undesirable decline of the yen, but markets don’t quite buy it. However, USD/JPY remains fraught with risk

May CPI indicator exceeds estimates, increasing chances of another RBA rate hike. Explore the implications for AUD with a closer look at AUD/NZD

May sees surprise uptick in Canadian inflation as 12-month CPI rises to 2.9%. USD/CAD lifts and the CAD/CHF bullish reversal extends

Le Pen's National Rally tops French polls. Discover how this political shift might affect the euro, bond markets in the lead up to Sunday’s first round of elections

The bull trend in US equities is undeniable, but questions are being asked about the longevity of the rally as stocks now that fewer stocks are taking part in the ascent

The renewed yen depreciation led USD/JPY perilously close to the 160 mark after BoJ minutes mentioned the effect of currency weakness on a potential inflation overshoot

Japanese CPI data shows mixed results as yen continues to decline despite rising JGB yields. USD/JPY approaches 160, raising intervention concerns

The yen continues its steady decline, approaching levels that triggered intervention in April. AUD/JPY and USD/JPY climb as bond yields offer no support

The Swiss National Bank voted to lower its policy rate, following on from March’s surprise cut. Inflation is expected to remain well below the 2% target, stabilising at 1%

The risk gauge for EU bond markets (periphery bond yields) have risen since French President Macro’s announcement to hold parliamentary elections, weighing on the Euro

UK job losses accelerated in May by over 50,000 – the most since February 2021 while pay growth rose. The Bank of England meets next week to set interest rates

Stubborn inflation and a robust labour market are likely to add to concerns FOMC members are having around cutting interest rates prematurely. Even growth is on track for a recovery

The UK job market has eased, unlike what we’ve seen in the US after last week’s NFP surprise. UK growth remains constrained but that has not impeded sterling gains

The NFP report on Friday caused a sizeable amount of volatility as the data caught the forecasters off guard, coming in significantly stronger than anticipated as did wage growth

Months of restrictive monetary policy have had little effect on the labour market but recent jobs data suggests we may be approaching a steady decline

The South African Rand has surrendered a lot of ground as the uncertainty around the new coalition government hangs in the balance

The ECB marked a historic moment, initiating a cutting cycle before the Fed. The euro rose on the back of upward revisions to both inflation and growth in 2024

The Bank of Canada cuts rates to 4.75% as inflation settles into the target range. Wages, house prices and geopolitical uncertainty still pose risks to the outlook. Dovish repricing seen in CAD

Aussie growth stalls in Q1, growing just 0.1% as household spending falters. AUD/USD holds steady for now, with key support and resistance levels identified ahead of NFP

US dollar setups come into focus as data weakens. EUR/USD awaits ECB cut, AUD/USD eyes lower levels on waning risk appetite, and USD/CHF flashes overheating signals after a sharp drop

A weaker US dollar has struggled to propel commodity prices higher as gold and silver head lower. Oil markets sink on news of supply returning later this year

Euro in focus ahead of the highly likely ECB rate cut. Euro positioning has improved in recent weeks and softer US data could improve the outlook for the single currency

Oil attempts to find support after OPEC+ extended output cuts into 2025. Oil prices attempt to make a recovery after multiple days of losses

The US dollar may prove resilient ahead of the crucial PCE inflation data, while EUR/USD seeks catalysts and USD/JPY maintains its uptrend. Traders eye German and EU inflation figures for guidance

A worsening economic backdrop, declining consumer spending and a lack of progress in the desired wage-price spiral hampers the BoJ amid future rate hikes

Gold loses it shine after a Hawkish Fed and firmer USD Pressure XAU/USD. The precious metal is set for its worst week since December, as bulls waver. Will PCE data extend the slide?

The US dollar has taken a step back this week as moves have been driven largely by localised data and central bank developments during a quieter week for the US