Last Friday, at close, US equities turned into positive territory and in the process soothed some of the weekly losses, however gains were only modest ones. Last Friday the final reading of University of Michigan Consumer confidence for June was out at 82.5 slightly higher than the previous.

The US Dollar ekes out some marginal gains this morning after the US dollar index hit monthly lows last Friday down to 80.03. The buck’s setback was due to the recent mixed data out of the US. The EUR/USD has kept to a range of 1.3640-1.3654 as the currency pair continues to delve deeper into record low volatility levels.

Asian indices were mixed this morning as investors opted for caution ahead of some major event risk later this week. From the Asia, early into Tuesday Morning China reports its June Manufacturing PMI and even the RBA is expected to announce its rate decision policy. Next Thursday we also have an ECB rate decision and US Payrolls data.

Seen against the US dollar the Yen was at its highest for June as lingering geo-political tensions in North Korea Iraq and Ukraine boosted its safe haven appeal, especially at a time of USD weakness.

Ahead of us today we are awaiting Canadian GDP data for April.

Good Day,