The UK economy contracted by 0.6% in June, beating a more pessimistic -1.3% market estimate, while a raft of industrial and manufacturing data also topped market expectations.

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The US Dollar clawed its way off recent lows in the aftermath of another soft inflation number, but still appears vulnerable despite hawkish Fed jawboning. New high for DXY?

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EUR/USD appears to be responding to the former support zone around the May low (1.0349) as it fails to extend the series of higher highs and lows from earlier this week.

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AUD/USD neared its 200-day SMA on supportive moves higher in copper, coal and iron ore prices. A weaker US Dollar and a worsening energy crisis in Europe provided another tailwind to the Aussie Dol…

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USD/JPY appears to be on track to test the monthly low (130.39) after struggling to push back above the 50-Day SMA (135.24).

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