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Australia NAB Business Conditions improved from 1 to 3 in June, but remain below average. Business Confidence dropped from 7 to 2, largely unwound the bounce from 0 to 7 in May. NAB said "the recent run of results also suggest that the economy is unlikely to record a significant pickup in growth in Q2." Further, "forward orders also remain below average (and are negative), suggesting a near-term turn around in business activity is unlikely."

According to Alan Oster, NAB Group Chief Economist, "Business confidence appears to have unwound its spike in May, which we think was driven by a short-term election bounce and increased optimism around a renewed interest rate easing cycle by the RBA. While business conditions increased slightly in the month, they remain well below average after trending lower for over a year now. The decrease in conditions has been relatively broad-based across states and industries – suggesting that there has been sector wide loss of momentum over the past year".

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For the 24 hours to 23:00 GMT, the GBP declined 0.06% against the USD and closed at 1.2518.

Data indicated that UK's BRC sales like-for-like dropped 1.6% on an annual basis in June, more than market consensus for a fall of 1.5%. In the preceding month, the like-for-like sales had recorded a decline of 3.0%.

In the Asian session, at GMT0300, the pair is trading at 1.2510, with the GBP trading 0.06% lower against the USD from yesterday's close.

The pair is expected to find support at 1.2493, and a fall through could take it to the next support level of 1.2477. The pair is expected to find its first resistance at 1.2533, and a rise through could take it to the next resistance level of 1.2557.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD rose 0.27% against the JPY and closed at 108.75.

In the Asian session, at GMT0300, the pair is trading at 108.84, with the USD trading 0.08% higher against the JPY from yesterday’s close.

The pair is expected to find support at 108.45, and a fall through could take it to the next support level of 108.05. The pair is expected to find its first resistance at 109.07, and a rise through could take it to the next resistance level of 109.29.

Going ahead, traders would keep an eye on Japan’s machine tool orders for June, scheduled to release in a while.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.35% against the CHF and closed at 0.9942.

In economic news, Switzerland’s total sight deposits eased to a level of CHF579.0 billion in the week ended 05 July, from CHF579.3 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 0.9940, with the USD trading marginally lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9911, and a fall through could take it to the next support level of 0.9879. The pair is expected to find its first resistance at 0.9960, and a rise through could take it to the next resistance level of 0.9979.

Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s unemployment rate for June, scheduled to release in a while.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.20% against the CAD and closed at 1.3100.

In the Asian session, at GMT0300, the pair is trading at 1.3102, with the USD trading slightly higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.3065, and a fall through could take it to the next support level of 1.3028. The pair is expected to find its first resistance at 1.3123, and a rise through could take it to the next resistance level of 1.3144.

Moving ahead, investors would closely monitor Canada’s housing starts for June and building permits for May, set to release later in the day.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the AUD declined 0.16% against the USD and closed at 0.6973.

LME Copper prices rose 0.9% or $55.0/MT to $5912.0/MT. Aluminium prices rose 0.2% or $3.5/MT to $1783.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6956, with the AUD trading 0.24% lower against the USD from yesterday's close.

Overnight data showed that Australia's NAB business confidence index declined to a level of 2.0 in June, compared to a reading of 7.0 in the prior month.

Meanwhile, the nation's NAB business conditions index rose to a level of 3.0 in June, following a reading of 1.0 in the preceding month.

The pair is expected to find support at 0.6942, and a fall through could take it to the next support level of 0.6928. The pair is expected to find its first resistance at 0.6982, and a rise through could take it to the next resistance level of 0.7008.

Going ahead, trader would keep an eye on Australia's Westpac consumer confidence index for July, slated to release overnight.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Gold declined 0.25% against the USD and closed at USD1397.70 per ounce, amid broad strength in the greenback.

In the Asian session, at GMT0300, the pair is trading at 1395.40, with gold trading 0.16% lower against the USD from yesterday’s close.

The pair is expected to find support at 1388.77, and a fall through could take it to the next support level of 1382.13. The pair is expected to find its first resistance at 1405.97, and a rise through could take it to the next resistance level of 1416.53.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Silver traded flat against the USD and closed at USD15.04 per ounce.

In the Asian session, at GMT0300, the pair is trading at 15.04, with silver trading marginally higher against the USD from yesterday’s close.

The pair is expected to find support at 14.98, and a fall through could take it to the next support level of 14.91. The pair is expected to find its first resistance at 15.13, and a rise through could take it to the next resistance level of 15.21.

The white metal is trading below its 20 Hr and 50 Hr moving averages.

UK BRC like-for-like sales dropped -1.6% yoy in June, below expectation of -1.5% yoy. Total sales dropped -1.3% yoy. The data were worst in record for June since 1995. Helen Dickinson, Chief Executive of BRC, noted, "overall, the picture is bleak: rising real wages have failed to translate into higher spending as ongoing Brexit uncertainty led consumers to put off non-essential purchases."

She added: "Businesses and the public desperately need clarity on Britain's future relationship with the EU. The continued risk of a No Deal Brexit is harming consumer confidence and forcing retailers to spend hundreds of millions of pounds putting in place mitigations – this represents time and resources that would be better spent improving customer experience and prices. It is vital that the next Prime Minister can find a solution that avoids a No Deal Brexit on 31st October, just before the busy Black Friday and Christmas periods."

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For the 24 hours to 23:00 GMT, Crude Oil declined 0.26% against the USD and closed at USD57.51 per barrel, amid fears over the outlook for demand.

In the Asian session, at GMT0300, the pair is trading at 57.44, with oil trading 0.12% lower against the USD from yesterday's close.

The pair is expected to find support at 57.01, and a fall through could take it to the next support level of 56.57. The pair is expected to find its first resistance at 58.17, and a rise through could take it to the next resistance level of 58.89.

Crude oil is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.