Date: 10.07.2026
Market Sentiment
Risk appetite is cautiously constructive as semiconductor strength offsets renewed US-Iran hostilities. Asian equities advanced, while Europe opened quietly. Oil retains a geopolitical premium because Strait of Hormuz shipping remains constrained, keeping inflation risks active. The dollar is softer, while the yen strengthened after Japan proposed encouraging pension funds to increase domestic holdings. Sterling remains supported by firmer Bank of England rate expectations. With limited US data scheduled, Canada’s labour report is today’s clearest event risk, while energy headlines may continue driving currencies, commodities, and equity sentiment.
Previous Session Recap
The S&P 500 gained 0.81%, while the Nasdaq rose 1.30%. Brent settled at $76.05.
Top Overnight Global Forex Headlines
| Driver | Impact |
|---|---|
| Japan pension proposal | Yen strengthens |
| US-Iran attacks | Oil premium persists |
| Chip optimism | Asian equities rise |
Forex Focus of the Day
USD/CAD trades near 1.4170 before Canada’s employment report. Weak data could lift the pair despite oil support for CAD.
Key Economic Events
| UTC | Event |
|---|---|
| 12:30 | Canada employment and unemployment |
| All day | Middle East energy headlines |
Major Forex Currency Outlooks
| Instrument | Outlook |
|---|---|
| EUR/USD | Firm near 1.1435 |
| GBP/USD | Supported near 1.3420 |
| USD/JPY | Softer near 161.7 |
| USD/CAD | Data-sensitive near 1.4170 |
Commodities Watch
| Instrument | Outlook |
|---|---|
| Gold | Softer near $4,108 |
| Brent | Supported near $76 |
| WTI | Firm near $72 |
Key Forex Technical Zones
| Instrument | Support | Resistance |
|---|---|---|
| EUR/USD | 1.1400 | 1.1500 |
| GBP/USD | 1.3400 | 1.3450 |
| USD/JPY | 161.30 | 162.50 |
| USD/CAD | 1.4135 | 1.4180 |
| Gold | 4,080 | 4,140 |
| Brent | 75.00 | 77.00 |
| WTI | 71.00 | 73.50 |
Trader’s Takeaway
Prioritise Canadian data, oil headlines, and yen volatility. Wait for confirmation before following sharp moves.
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Disclaimer
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