FINWIRES · TerminalLIVE
FINWIRES

US Dollar Mixed Early Monday; Focus on Inflation, Retail Sales Data, Warsh Testimony

By

The US dollar was mixed against its major trading partners early Monday -- up versus the pound and yen, down versus the euro and Canadian dollar -- as markets turn their attention this week to inflation and retail sales data for June, as well as semi-annual testimony from Federal Reserve Chairman Kevin Warsh.

Monday's schedule is light, with a speech by Fed Governor Christopher Waller at 12:30 pm ET and the US Treasury's June budget statement due at 2:00 pm ET.

Consumer price data for June are the statistical highlight of Tuesday's schedule, released shortly before Warsh's first day of testimony. Small business sentiment data for June and weekly Redbook same-store sales will also be released.

Wednesday's highlights include producer price data for June, the New York Federal Reserve's Empire State manufacturing reading for July, the Fed's Beige Book report, and Warsh's second day of testimony.

Thursday's busy schedule includes weekly jobless claims, retail sales data for June, the New York Fed's services reading for July, the Philadelphia Fed's manufacturing data for July, pending home sales data for June, and home builder sentiment data for July.

Housing starts, import and export price data, and industrial production data, all for June, are due to be released on Friday before the preliminary consumer sentiment report for July from the University of Michigan.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.1430 from 1.1417 at the Friday US close, but was below a level of 1.1432 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank policy board member Isabel Schnabel is due to speak at 12:45 pm ET, followed by ECB President Christine Lagarde at 5:00 pm ET. The next European Central Bank meeting is scheduled for July 23.

GBP/USD fell to 1.3388 from 1.3399 at the Friday US close and 1.3430 at the same time Friday morning. There are no UK data on Monday's schedule, but Bank of England policy board member Huw Pill is due to speak at 2:00 pm ET. The next Bank of England meeting is scheduled for July 30.

USD/JPY rose to 162.1384 from 161.7086 at the Friday US close and 161.7695 at the same time Friday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD fell to 1.4129 from 1.4156 at the Friday US close and 1.4169 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Wednesday, when no change in the policy rate is expected.

Related Articles

International

Pace of Rise in New Zealand Food Supermarkets' Supplier Costs in June Little Changed, Infometrics Says

The pace of increases for supplier costs for food supermarkets in New Zealand was little changed in June, Infometrics said in a Monday report.The Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index showed an average increase of 2.1% from a year earlier."[June saw] the fifth highest number of monthly cost changes since 2018, across a variety of products," said Brad Olsen, Infometrics chief executive and principal economist. "As had been expected, a large number of cost adjustments stemming from conflict in the Middle East have finally landed."Over 6,900 products increased in cost in June month over month from May, with around half directly attributable to fuel adjustments, Olsen said."Larger increases for a number of fruits, fish fillet and shellfish, and fries, hashbrowns, as well as berries saw larger average increases across produce, seafood, and frozen departments, respectively," Olsen added.The majority of the cost increases in June were of a small-to-medium magnitude, with around 6,500 being increases of 0% to 20%.

^NZ50
International

Australians Spend Over AU$7 Billion in 2026 FIFA World Cup

Australian customers have so far spent over AU$7 billion during this year's FIFA World Cup, with spending increases recorded across key fan categories, according to an ANZ analysis released Monday.Spending has increased in various sectors: takeaway food by 6.6%, cafes and restaurants by 5.5%, bars and hotels by 5.2%, and sporting apparel by 9.3%, the report said.The trends reflect ANZ's observations from the 2022 FIFA Men's World Cup, where customer spending rose by 8.2% year on year, exceeding AU$11 billion.During the 2022 tournament, spending rose in different categories, including takeaway food, cafes and restaurants, sporting apparel, takeaway alcohol, and bars and hotels.

ASX 200
International

Market Chatter: China's Q2 GDP Deflator to Turn Positive After Three Years, Analysts Say

China's second-quarter GDP deflator is projected to turn positive for the first time in over three years, state-owned China Daily reported Sunday, citing analysts and executives.The GDP deflator, which measures price changes across all goods and services produced domestically, has been in the contraction zone for 12 straight quarters and stood at 0.1% in the first quarter of 2026, the report said.Su Jian, director of Peking University's National Center for Economic Research, expects the Q2 GDP deflator to turn positive at around 1.9%, while Robin Xing, chief China economist at Morgan Stanley, upgraded his full-year deflator projection to 0.5%, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE