In the absence of significant new developments, the dollar is consolidating within narrow ranges against G10 currencies, exhibiting a slight upward bias against most emerging market currencies, except for a few in the Asia Pacific region.
US index futures are trading with a firmer bias after the S&P 500 and NASDAQ reached new record highs yesterday.
Gold retraced its pre-weekend gains yesterday, potentially influenced by news that the PBOC did not increase its holdings for the second consecutive month in June. However, support near $2350 held firm, and it is trading with a firmer bias today.
September WTI crude, after reversing lower before the weekend from nearly $83.60, fell almost 1% yesterday and is down about 0.7% today, slipping below $81. Initial support is seen around $80.

Asia Pacific Markets
The Asia Pacific session was quiet with a light news flow, but this will change tomorrow with the release of China’s CPI and PPI data.
Additionally, the Reserve Bank of New Zealand meets tomorrow morning, with expectations that it will hold the rate.
The dollar spent most of the North American session below JPY 161 and continues to hover around this level today.
The Australian dollar traded on both sides of its pre-weekend range yesterday but settled within it, indicating near-term consolidation.

European Markets
In the UK, the new Chancellor of the Exchequer, Reeves, swiftly announced several initiatives, including the restoration of mandatory local housing targets, previously abandoned by the Tories, and the end of what was essentially a ban on offshore wind farms.
Sterling ended its seven-day rally with a minor loss yesterday, marking its longest advancing streak since a ten-day rally four years ago. Today, sterling is trading within a narrow range of less than a quarter-of-a-cent above $1.2795, with nearby resistance seen near last month’s high.

American Markets
The key event this week is the US CPI figure, due on Thursday. Ahead of this, market attention is focused on Fed Chair Powell's testimony today before the Senate Banking Committee and tomorrow before the House panel.
Canada's economic calendar is light this week, featuring May building permits and June existing home sales at the end of the week.
The greenback moved sideways within a narrow band in the upper end of its pre-weekend range against the Canadian dollar yesterday and remains quiet today.