🇺🇸 USD – BEARISH
1️⃣ The dollar index sank for the 6th straight session on Monday, the lowest since September 21st 2018, amid increasing concerns about the economic recovery in the US and as Fed is likely to signal more stimulus measures during the meeting this week.
2️⃣ Florida, Arizona and Tennessee recorded a record number of coronavirus cases on Sunday, in another sign that the US is struggling to contain the pandemic and further casting doubts about the country’s economic recovery.
🇬🇧 GBP – BULLISH
1️⃣ The British pound held above $1.28 on Monday, having touched its strongest level since March 11th in early trading, mainly boosted by a weaker US dollar, which hovered around a two-year low as concerns about a spike in coronavirus cases across the US and growing tensions between Washington and Beijing raised expectations that further policy easing might be needed.
🇪🇺 EUR – BULLISH
1️⃣ The euro crossed the $1.17 level for the first time since September 2018 on Monday as the bloc’s common currency continues to benefit from a massive coronavirus aid package agreed by EU leaders last week.
2️⃣ German Business Climate came in on the strong side in July.
3️⃣ German Q2 GDP should be better due to spending recoveries.
🇳🇿 NZD – BULLISH
1️⃣ Prime Minister Jacinda Ardern and Education Minister Chris Hipkins announced an NZ$51.6 million package, providing a range of subsidies and new policies to support New Zealand’s overseas education sector.
2️⃣ US and China continue to weigh on the sentiment, the heavy selling pressure surrounding the greenback allows NZD/USD to stay bullish.
🇨🇦 CAD – BEARISH
1️⃣ Oil price gains are capped by concerns the resumption of COVID-19 in America will curtail demand.
2️⃣ Flaky risk sentiment are hampering the Loonie.
🇦🇺 AUD – BEARISH
1️⃣ Australian Premier Daniel Andrews revealed a record 532 new coronavirus cases in Victoria on Sunday, posting a new record increase.
2️⃣ Dropped in consumer inflation expectations in Q2 will affect Australia’s CPI data this week.
🇯🇵 JPY – BULLISH
1️⃣ The Japanese Yen gains as accelerating coronavirus infection rates continued to dampen hopes of recovery for the United States economy.
2️⃣ The recent escalation of diplomatic tensions between the world’s two largest economies forced investors to take refuge in traditional safe-haven assets.
🇨🇭 CHF – BULLISH
1️⃣ The recent escalation in diplomatic tensions between the US and China added to market concerns that the economic recovery in the US could be grinding to a halt amid the resurgence in coronavirus cases.
2️⃣ Risk-off markets sentiment will help Swissy.
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