The US Dollar regained its ascendency after the US debt deal passed Congress and was supported by solid jobs data. OPEC+ announced output cuts and the Fed is now in blackout mode.

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The Japanese yen’s slide appears to be losing steam as US Federal Reserve rate hike expectations take a ‘U’-turn after dovish remarks from central bank officials. What is the outlook for USD/JPY, EUR/JPY, and AUD/JPY?

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Crude oil prices made solid gains to start the week on the back of OPEC+ reduced output targets with Saudi Arabia making the largest sacrifice in an effort to boost prices.

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With the US debt default crisis averted which has been largely priced by markets previously, central focus this week could be shifted back to the US Fed rate outlook.

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After some key activity data and the passage of the debt ceiling bill last week, markets could be in for a relatively quieter week on the data front. With the US Federal Reserve expected to pause hiking rates, inflation moderating in recent months, and US economic growth showing signs of resilience, optimism has been running high in equities.

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