FX Daily Strategy: Asia, July 3rd

July 2, 2025 9:00 PM UTC

USD could suffer on weaker US employment report
USD/JPY likely to respond most to lower US yields
GBP struggling as UK fiscal policy continues to disappoint

North American Summary and Highlights 2 Jul

July 2, 2025 8:05 PM UTC

Overview - Fiscal worries saw the GBP particularly weak. Elsewhere the USD reversed European gains in North America. 

FX Daily Strategy: APAC, July 3rd

July 2, 2025 3:01 PM UTC

USD could suffer on weaker US employment report
USD/JPY likely to respond most to lower US yields
GBP struggling as UK fiscal policy continues to disappoint

Europe Summary and Highlights 2 July

July 2, 2025 10:14 AM UTC

The USD was generally stronger through the European morning, with USD/JPY and GBP/USD leading the way. 

Psychology for major markets Jul 02

July 2, 2025 10:09 AM UTC

Consolidation as markets await employment data and tariff news

FX Daily Strategy: N America, July 2nd

July 2, 2025 8:58 AM UTC

USD may manage some recovery ahead of major data
GBP to remains under some downward pressure as BoE turns more dovish
CHF remains very expensive and hard to favour without significant geopolitical risk
AUD/CAD and NOK/SEK both have scope to gain

Asia Summary and Highlights 2 July

July 2, 2025 5:33 AM UTC

Trump says that Israel has agreed to a 60-day Gaza ceasefire proposal

FX Daily Strategy: Europe, July 2nd

July 2, 2025 5:13 AM UTC

USD may manage some recovery ahead of major data
GBP to remains under some downward pressure as BoE turns more dovish
CHF remains very expensive and hard to favour without significant geopolitical risk
AUD/CAD and NOK/SEK both have scope to gain

FX Daily Strategy: Asia, July 2nd

July 1, 2025 9:00 PM UTC

USD may manage some recovery ahead of major data
GBP to remains under some downward pressure as BoE turns more dovish
CHF remains very expensive and hard to favour without significant geopolitical risk
AUD/CAD and NOK/SEK both have scope to gain

North American Summary and Highlights 1 Jul

July 1, 2025 7:56 PM UTC

Overview - The USD slipped in Europe though reversed its losses in North America, supported by stronger job openings. 

FX Daily Strategy: APAC, July 2nd

July 1, 2025 2:48 PM UTC

USD may manage some recovery ahead of major data
GBP to remains under some downward pressure as BoE turns more dovish
CHF remains very expensive and hard to favour without significant geopolitical risk
AUD/CAD and NOK/SEK both have scope to gain

Europe Summary and Highlights 1 July

July 1, 2025 10:14 AM UTC

The USD weakened across the board through the European morning, with the JPY and CHF the best performers, both gaining around 0.5%, while riskier currencies were generally up around 0.3%, although the NOK matched CHF and JPY gains, and the SEK also slightly outperformed the EUR.

Psychology for major markets Jul 01

July 1, 2025 10:10 AM UTC

EUR testing highs, JPY weakness looks overdone, equities holding near highs

FX Daily Strategy: N America, July 1st

July 1, 2025 9:01 AM UTC

Data looks unlikely to move markets
USD and JPY remain under pressure
CHF strength looks puzzling and excessive
GBP could be vulnerable to more dovish BoE comments

Asia Summary and Highlights 1 July

July 1, 2025 5:18 AM UTC

The Q2 BoJ Tankan Index shows business resilience 

FX Daily Strategy: Europe, July 1st

July 1, 2025 3:27 AM UTC

Data looks unlikely to move markets
USD and JPY remain under pressure
CHF strength looks puzzling and excessive
GBP could be vulnerable to more dovish BoE comments

FX Daily Strategy: Asia, July 1st

June 30, 2025 9:00 PM UTC

Data looks unlikely to move markets
USD and JPY remain under pressure
CHF strength looks puzzling and excessive
GBP could be vulnerable to more dovish BoE comments

North American Summary and Highlights 30 Jun

June 30, 2025 7:50 PM UTC

Overview - The USD weakened in North America after being little changed in the European morning. 

FX Daily Strategy: APAC, July 1st

June 30, 2025 3:08 PM UTC

Data looks unlikely to move markets
USD and JPY remain under pressure
CHF strength looks puzzling and excessive
GBP could be vulnerable to more dovish BoE comments

Europe Summary and Highlights 30 June

June 30, 2025 10:03 AM UTC

EUR/USD was not much changed but USD/JPY was slightly higher, gaining 20 pips to 144.20, and USD/CHF slightly lower, falling 15 pips to 0.7970. 

Psychology for major markets Jun 30

June 30, 2025 10:01 AM UTC

EUR testing highs, JPY weakness looks overdone, equities making new highs

FX Weekly Strategy: June 30th - July 4th

June 30, 2025 8:45 AM UTC

US employment report the prime focus
Some risk of weaker numbers after higher claims figures from mid-May
General USD weakness remains hard to oppose
JPY could recover some ground on the crosses on weaker US data

IMM Commitment of Traders Reports w/e June 24th

June 30, 2025 7:44 AM UTC

Net long JPY positioning slightly reduced but still large, EUR longs rising

Asia Summary and Highlights 30 Jun

June 30, 2025 5:01 AM UTC

Canada rescinds Digital Services Tax to advance broader trade negotiations with the US
Trump whining about unfair auto trade, wants Japan to buy more oil

FX Weekly Strategy: Asia, June 30th - July 4th

June 29, 2025 9:00 PM UTC

US employment report the prime focus
Some risk of weaker numbers after higher claims figures from mid-May
General USD weakness remains hard to oppose
JPY could recover some ground on the crosses on weaker US data

FX Weekly Strategy: APAC, June 30th - July 4th

June 29, 2025 5:00 PM UTC

US employment report the prime focus
Some risk of weaker numbers after higher claims figures from mid-May
General USD weakness remains hard to oppose
JPY could recover some ground on the crosses on weaker US data

North American Summary and Highlights 27 Jun

June 27, 2025 8:07 PM UTC

Overview - The USD was slightly firmer, most notably versus the CAD after Trump broke of trade negotiations with Canada. 

FX Weekly Strategy: June 30th - July 4th

June 27, 2025 3:04 PM UTC

US employment report the prime focus
Some risk of weaker numbers after higher claims figures from mid-May
General USD weakness remains hard to oppose
JPY could recover some ground on the crosses on weaker US data

Europe Summary and Highlights 27 June

June 27, 2025 10:16 AM UTC

EUR/USD gained 20 pips to 1.1710 in the European morning, while the CHF and scandis made even larger gains, with EUR/CHF and EUR/NOK dropping around 0.25%, and EUR/SEK down 0.5%. 

Psychology for major markets Jun 27

June 27, 2025 10:12 AM UTC

EUR testing highs, JPY weakness looks overdone, equities making new highs

FX Daily Strategy: N America, June 27th

June 27, 2025 9:12 AM UTC

Preliminary CPI data weaker in Japan, stronger in Europe
EUR/USD gains may not be over, but market is stretched near term
CAD could slip further on weak GDP

Asia Summary and Highlights 27 Jun

June 27, 2025 5:46 AM UTC

Japan Tokyo Headline CPI 3.1%y/y

FX Daily Strategy: Asia, June 27th

June 26, 2025 9:00 PM UTC

Preliminary CPI data of limited relevance, but could extend JPY weakness
EUR/USD gains may not be over, but market is stretched near term
CAD could slip further on weak GDP

North American Summary and Highlights 26 Jun

June 26, 2025 7:51 PM UTC

Overview - The USD was softer in both Europe and North America, with eyes on the Fed more than mixed US data. 

FX Daily Strategy: APAC, June 27th

June 26, 2025 2:55 PM UTC

Preliminary CPI data of limited relevance, but could extend JPY weakness
EUR/USD gains may not be over, but market is stretched near term
CAD could slip further on weak GDP

Psychology for major markets Jun 26

June 26, 2025 10:13 AM UTC

EUR making new highs, JPY weakness looks overdone

Europe Summary and Highlights 26 June

June 26, 2025 10:11 AM UTC

The USD weakened in the European morning falling around 0.5% against the EUR and JPY and 0.25% against the AUD and CAD.

FX Daily Strategy: N America, June 26th

June 26, 2025 9:08 AM UTC

USD could slip on US claims data
Equity strength looks overdone
JPY weakness on the crosses is extreme, particularly versus CHF
SEK can slip back against EUR and NOK

Asia Summary and Highlights 26 Jun

June 26, 2025 5:24 AM UTC

Reuters reported that the US is allowing ethane to be loaded and shipped to China
Wall Street Journal reported Trump considers naming next Fed chair early

FX Daily Strategy: Europe, June 26th

June 26, 2025 4:11 AM UTC

USD could slip on US claims data
Equity strength looks overdone
JPY weakness on the crosses is extreme, particularly versus CHF
SEK can slip back against EUR and NOK