EUR/USD has fallen significantly in recent weeks, hit by the broad-based U.S. dollar strength, with the pair now testing trendline support, the last line of defense against a deeper pullback.

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Spot Gold rose and the dollar index (DXY) fell despite positive PMI data. Manufacturing remains a concern, but service sector growth accelerated to a 13-month high due to increasing demand.

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CAD remains around the 1.35 level with bulls and bears torn between the US debt ceiling narrative as well as OPEC+.

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The International Monetary Fund has performed a quick 180 and predicted that the UK economy will grow in 2023 and after last month warning of a contraction.

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The Dow and CAC40 have struggled to make progress, though inflows continue to support the Nasdaq 100.

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