North American Summary and Highlights 29 June

June 29, 2026 8:00 PM UTC

Overview - The USD was generally softer, GBP/USD leading with help from a speech by the likely next Prime Minister, Andy Burnham. 

Chart USD/CAD Update: Gains to remain limited

June 29, 2026 3:44 PM UTC

Cautious trade is giving way to a drift higher

FX Daily Strategy: APAC, Jun 30th

June 29, 2026 3:21 PM UTC

Still in dollar consolidation/correction mode. Period end, options, wait for payrolls also
Spec mkt long dollars and at extreme for GBP. Latter could risk a squeeze
ECB conference, inflation data on the calendar

Preview: Due July 15 - U.S. June PPI - Some fading from recent strength

June 29, 2026 3:16 PM UTC

We expect an unchanged June PPI, a significant slowing from two straight gains of 1.1% as energy corrects from recent strength and other inflationary stimuli from the conflict in the Middle East fade. We expect a 0.4% rise ex food and energy, matching May’s outcome, and also a 0.4% increase ex foo

Chart AUD/USD Update: Leaning lower

June 29, 2026 1:39 PM UTC

Cautious trade has given way to a break below 0.6900, with prices currently balanced in range extension beneath here

A Strong U.S. Q2 Report Now Looks Unlikely

June 29, 2026 1:26 PM UTC

After a sharp deterioration in May’s trade deficit, previously positive forecasts for Q2 GDP need to be trimmed significantly, though there is still uncertainty over June data. We now expect a Q2 GDP increase of only 0.9%, down from a  previous estimate of 2.3%. After an upward revision to Q1 our

Chart USD/JPY Update: Consolidating - background studies rising

June 29, 2026 1:05 PM UTC

Little change, as prices extend cautious trade beneath critical resistance at the 161.95 multi-year high of July 2024

Preview: Due June 30 - Canada April GDP - Growth resuming

June 29, 2026 12:10 PM UTC

We expect April GDP to increase by 0.3%, not quite as strong as a 0.4% estimate given with March’s report. After a 0.1% decline in March this would still leave quite a subdued picture though Q2 looks likely to see a return to growth after marginal declines seen in both Q4 2025 and Q1 2026. 

GBP/USD flows: Manchesterism; max GBP spec shorts at risk of buy the fact?

June 29, 2026 11:13 AM UTC

PM-elect speech focuses on devolution so far, as expected
IMM data shows max levles of GBP shorts - suggests some risks of a short-squeeze / buy-fact ahead

Chart EUR/CAD Update: Cautious trade

June 29, 2026 10:22 AM UTC

Still little change, as prices extend cautious trade above support at 1.6150

Psychology for major markets June 29

June 29, 2026 9:35 AM UTC

Crossfire ended early

FX Weekly Strategy: N America, Jun 29 - Jul 3

June 29, 2026 9:06 AM UTC

EZ HICP seen peaking, US payrolls solid but flattered
Central bank get-together. Rate hike expectations easing in tandem
Dollar still firm, but market to finish unwinding overbought conditions

Chart USD/CHF Update: Cautious trade - daily studies under pressure

June 29, 2026 8:26 AM UTC

Anticipated minor tests lower have bounced from 0.8065

IMM Commitment of Traders Reports w/e Jun 23

June 29, 2026 8:19 AM UTC

Latest IMM data underscores mkt strongly long-dollar, playing to current overbought pullback/consolidation
CAD (pre USMCA) and NZD shorts large; AUD remains more sidelined if forced out of longs
GBP shorts at historic highs - last out here in 2017 
This occurring at the EUR/GBP range lows - so creates

Chart USD Index DXY Update: Cautious beneath highs

June 29, 2026 8:15 AM UTC

Little change, as prices extend cautious trade above congestion support at 101.00

Chart EUR/USD Update: Limited tests higher

June 29, 2026 7:44 AM UTC

The anticipated test above resistance at congestion around 1.1400 and the 1.1410 monthly low of 13 March has been pushed back from 1.1435~