North American Summary and Highlights 6 August

August 6, 2026 7:51 PM UTC

Overview - The USD was firmer on a pick-up in Middle East risks. 

EUR/USD, USD/JPY Flows: Oil, UST, dollar, all on edge

August 6, 2026 4:45 PM UTC

More wires comments leaving the market on edge over rhetorical exchanges and practical problems with deal
Oil, USTs, dollar also see a pop

Chart USD/CAD Update: Consolidating test of 1.3980/00 - background studies under pressure

August 6, 2026 4:00 PM UTC

The anticipated test of support at the 1.3980 Fibonacci retracement and the 1.4000 break level is giving way to expected consolidation

FX Daily Strategy: Asia, Aug 7

August 6, 2026 3:00 PM UTC

U.S. July Non-Farm Payrolls Stronger than June
Canada August Employment Another positive month
USD/JPY Directionless With Looming Intervention Threat

Chart AUD/USD Update: Test above 0.7050 not sustained

August 6, 2026 1:36 PM UTC

The anticipated break above congestion resistance at 0.7050 has been short-lived

Preview: Due August 7 - U.S. July Employment (Non-Farm Payrolls) - Stronger than June, but with a rise in unemployment

August 6, 2026 1:27 PM UTC

We expect July’s non-farm payroll to rise by 120k overall and by 110k in the private sector, a significant improvement from June’s respective gains of 57k and 49k but largely explained by a recovery in leisure and hospitality. We expect unemployment to rise to 4.3% from 4.2%, reversing a June de

Chart USD/JPY Update: Consolidating - potential for a minor test higher

August 6, 2026 1:10 PM UTC

Still little change, as prices extend consolidation beneath congestion resistance at 158.00

U.S. Initial Claims remain low, Q2 Productivity and Unit Labor Costs healthy but Non-Labor Costs surge

August 6, 2026 1:07 PM UTC

Initial claims at 199k from 198k remain very low though continued claims at 1,801m from 1.777m hit a 4-week high. Claims data on balance are giving positive signals for July’s non-farm payroll. Q2 non-farm productivity at 1.4% is stronger than expected and Q2 unit labor costs at 1.3% softer than e

Preview: Due August 7 - Canada July Employment - Another positive month, but tariffs a risk going forward

August 6, 2026 11:53 AM UTC

We expect Canadian employment to increase by 20k in July, a third straight gain, similar to June’s 18.2k though well below May’s 87.8k which was correcting preceding weakness. We expect unemployment to match June’s 6.5% but before rounding to fall to 6.451% from 6.498%.

AUD/USD flows: DRC tightens copper exports

August 6, 2026 9:52 AM UTC

Copper's break higher picks up as DRC restrict raw exports
Marginally AUD supportive albeit a varied overall commodity mix price picture

FX Daily Strategy: N America, Aug 6

August 6, 2026 9:26 AM UTC

A familiar story of waiting for an unclear deal, amid a neede-ly backdrop; dollar still slanted long and heavy
An argument that gold and especially silver poised for a breakout from base
Payrolls Friday next other focal point, largely mid-to-low tier data Thursday

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

August 6, 2026 8:16 AM UTC

Still little change, as prices extend cautious/choppy trade within the 0.8050 - 0.8100 range