Preview: Due July 7 - U.S. May Trade Balance - Advance goods data shows deficit up sharply

July 6, 2026 5:52 PM UTC

We expect a May trade deficit of $78.7bn, up from $55.9bn in April and the widest deficit since a pre-tariff record of $133.0bn in March 2025. We expect a 3.4% decline in exports after four straight gains and a 3.1% increase in imports, which would be a fourth straight gain.

Chart USD/CAD Update: Choppy at year highs

July 6, 2026 4:27 PM UTC

Little change, as choppy trade within resistance at 1.4200 - 1.4248 gives way to consolidation around 1.4200

FX Daily Strategy: Asia, Jul 7

July 6, 2026 3:31 PM UTC

Dollar steadies, risk steadies, summer slowdown may be here
USD/JPY recoups - recovery time seems proportionate to scale of the drop
Thin calendar, Minutes and RBNZ still the later highlights

EUR/USD, USD/JPY - US NM ISM solid as expected

July 6, 2026 2:25 PM UTC

US NM ISM broadly as expected, another solid report

Chart AUD/USD Update: Room for a minor test higher

July 6, 2026 1:54 PM UTC

Little change, as prices extend consolidation beneath the 0.6950 weekly high of 3 July

Chart USD/JPY Update: Smart bounce in both USD- and JPY-driven trade

July 6, 2026 1:13 PM UTC

Consolidation has given way to a sharp run higher in both USD- and JPY-driven trade

Chart EUR/CAD Update: Balanced at highs - room for a minor pullback

July 6, 2026 11:01 AM UTC

Little change, as prices extend cautious trade beneath strong resistance at the 1.6250~ monthly high of 14 April and the 1.6270 monthly high of 19 June

FX Weekly Strategy: N America, Jul 6-10

July 6, 2026 9:11 AM UTC

FOMC, ECB Minutes, RBNZ decision the highlights
Dollar ardour cools but spreads still in favour
NZD attempting to bounce if RBNZ plays ball, though some correction prior
USD/JPY remains uncertain, levels post holiday

Chart USD/CHF Update: Limited tests higher

July 6, 2026 8:25 AM UTC

Anticipated continuation lower has not been seen

Chart USD Index DXY Update: Immediate gains to remain limited

July 6, 2026 8:16 AM UTC

Consolidation is giving way to a push higher, as intraday studies turn higher, with prices currently testing levels just above resistance at 101.00

Psychology for major markets July 6

July 6, 2026 7:58 AM UTC

USD Solid

Chart EUR/USD Update: Drifting lower

July 6, 2026 7:50 AM UTC

Cautious trade beneath congestion resistance at 1.1450 is giving way to a drift lower

Chart GBP/USD Update: Leaning lower, but downside to remain limited

July 6, 2026 7:35 AM UTC

Choppy trade beneath the 1.3385 weekly high of 2 July is giving way to a drift lower

USD/JPY NZD/USD flows: Corrective action overnight

July 6, 2026 6:33 AM UTC

USD/JPY regains 162 after US holiday passes
NZD/USD sees some profit-taking ahead of RBNZ, not yet holding onto 0.57