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For the 24 hours to 23:00 GMT, the USD rose 0.52% against the CHF and closed at 0.9853 on Friday.

In the Asian session, at GMT0300, the pair is trading at 0.9858, with the USD trading 0.05% higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9811, and a fall through could take it to the next support level of 0.9763. The pair is expected to find its first resistance at 0.9897, and a rise through could take it to the next resistance level of 0.9935.

Trading trend in the Swiss Franc today is expected to be determined by the release of Switzerland’s total sight deposits for June, slated to release in few hours.

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

For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CAD and closed at 1.2931 on Friday.

Data released on Friday indicated that Canada's seasonally adjusted housing starts unexpectedly declined to a level of 195.6K in May, defying market expectations for a rise to a level of 220.0K. In the prior month, housing starts had registered a revised level of 216.8K. Meanwhile, the nation's unemployment rate remained unchanged at a rate of 5.8% in May, in line with the market expectations

In the Asian session, at GMT0300, the pair is trading at 1.2965, with the USD trading 0.26% higher against the CAD from Friday's close.

Separately, the Canadian dollar declined against the dollar, after US-Canada trade dispute heightened.

The pair is expected to find support at 1.2912, and a fall through could take it to the next support level of 1.2858. The pair is expected to find its first resistance at 1.3029, and a rise through could take it to the next resistance level of 1.3092.

With no macroeconomic releases in Canada today, investors would look forward to global macroeconomic events for further direction.

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

For the 24 hours to 23:00 GMT, the AUD declined 0.37% against the USD and closed at 0.7596 on Friday.

LME Copper prices rose 0.23% or $17.0/MT to $7262.5/MT. Aluminium prices declined 1.87% or $43.5/MT to $2287.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7607, with the AUD trading 0.14% higher against the USD from Friday's close.

Elsewhere in China, Australia's largest trading partner, the consumer price index (CPI) rose 1.8% on an annual basis in May, in line with market expectations. The CPI had registered a similar rise in the prior month. Additionally, the nation's producer price index (PPI) jumped 4.1% on a yearly basis in May, beating market expectations for a rise of 3.8%. In the previous month, the PPI had recorded a rise of 3.4%.

The pair is expected to find support at 0.7572, and a fall through could take it to the next support level of 0.7536. The pair is expected to find its first resistance at 0.7632, and a rise through could take it to the next resistance level of 0.7656.

Going ahead, investors would await a speech by the Reserve Bank of Australia's (RBA) Governor Philip Lowe, due overnight.

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

For the 24 hours to 23:00 GMT, Gold rose 0.14% against the USD and closed at USD1303.00 per ounce on Friday.

In the Asian session, at GMT0300, the pair is trading at 1303.60, with gold trading 0.05% higher against the USD from Friday’s close.

The pair is expected to find support at 1297.83, and a fall through could take it to the next support level of 1292.07. The pair is expected to find its first resistance at 1307.53, and a rise through could take it to the next resistance level of 1311.47.

The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, Silver rose 0.33% against the USD and closed at USD16.80 per ounce on Friday.

In the Asian session, at GMT0300, the pair is trading at 16.92, with silver trading 0.71% higher against the USD from Friday’s close.

The pair is expected to find support at 16.73, and a fall through could take it to the next support level of 16.53. The pair is expected to find its first resistance at 17.03, and a rise through could take it to the next resistance level of 17.15.

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

For the 24 hours to 23:00 GMT, Crude Oil declined 0.55% against the USD and closed at USD65.63 per barrel on Friday, amid worries over rising US output and decreasing demand in China.

In the Asian session, at GMT0300, the pair is trading at 65.71, with oil trading 0.12% higher against the USD from Friday’s close.

The pair is expected to find support at 65.16, and a fall through could take it to the next support level of 64.61. The pair is expected to find its first resistance at 66.25, and a rise through could take it to the next resistance level of 66.79.

Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.

Malaysian Prime Minister Mahathir Mohamad said the Trans Pacific Partnership needs to be renegotiated because "smaller countries would have the chance to compete because they would be given certain handicaps." He emphasized "small countries cannot compete on the same terms as bigger countries."

Mahathir, aged 92 and became Prime Minister for the second time last month, would also like to have a second push to his favored broad trade pact such as the East Asian Economic Caucus (EAEC), which he proposed during his previous administration. He noted that "yes, I am still in favor of EAEC. In the past, of course, we were not able to do this due to the objections of America, but now America seems to become isolationist again so it is not in a position to demand that we cannot form EAEC."

Both bulls and bears trimmed bets on US dollar after its rally to the highest level in over 6 months, as suggested in the CFTC Commitments of Traders report in the week ended June 5. Both speculative long and short positions were reduced but the latter overwhelmed, resulting in an increase (+490 contracts) in Net LENGTH for USD Index (DXY) futures to 4 414 contracts. The index dropped -0.98% during the week, weakening against major currencies with the exception of Japanese yen.

NET LENGTH for EUR futures fell -3 801 contracts to 89 236 for the week, while that for GBP futures dropped -2 162 contracts to 7 345. Traders increased bets on both sides, but shorts were more than longs. This was driven by concerns about political deadlock in Italy and its impact of ECB's monetary decision for the former, and ongoing Brexit uncertainty for the latter.

Net SHORT positions were trimmed in both safe-haven currencies. Net SHORT for JPY futures slipped -4 599 contracts to 3 437 while that for CHF futures was down -4 215 contracts to 39 216.

On commodity currencies, Net LENGTH for NZD futures rose +2 982 contracts to 4 383. Kiwi was the best performer against the greenback among major currencies, gaining +1.32%. NET SHORT for AUD futures dropped -3 027 contracts to 20 208 while that for CAD futures climbed +349 contracts to 16 039 for the week. All three currencies appreciated against US dollar during the week. The rise in Net SHORT for CAD futures was likely driven by intensifying concerns about the trade policy outlook as the White House displayed a tougher stance.

STOCKS

Important resistances are seen above current trading levels of Nifty, Nikkei and Dax. Shanghai is trading near important support levels and could either break below or bounce back from current levels. Dow on the other hand has some scope on the upside and looks bullish for the coming sessions.

Dow (25316.53, +0.30%) closed above 25250 yesterday also and could move up in the coming session targeting 25750. Near term looks bullish.

Dax (12766.55, -0.35%) has risen a bit but has immediate resistance near 12900 and further up at 13100. Overall we could see some range trade in the 13100-12400 region in the near term. Either the index could come off from 12900 or test 13100 before coming off sharply from there.

Watch price action near current levels on Nikkei (22767.18, +0.32%) as it trades just below the important daily trend resistance. While below 22800 there is scope for the index to come off towards 22400-22200 levels.

Shanghai (3052.86, -0.47%) is back to levels near 3050 and while the support holds, the index is likely to be trapped in the 3100-3050 region. A break below 3050, if seen would turn bearish for the medium to long term opening chances of fall towards 2900 or even lower. Need to keep an eye at current levels.

Nifty (10767.65, -0.0065%) too has important resistance near 10850 and while that holds, index is likely to come off towards 10650. A break on either side of the 10850-10600 levels would determine the next course of direction.

COMMODITIES

Copper (3.2824) could see some corrective dips after rising sharply to 3.30 from levels near 3.05 in the past 5-6 sessions. A fall towards 3.25-3.20 is possible before the price again starts to move up.

WTI (65.73) could remain below 67 for the next few sessions. Only on a sustained break above 67, the index could rise towards 69-70 levels.

Brent (76.55) has near term resistance at 78. But if the index breaks above 78, there is enough room on the upside towards 80. Some range trade is possible in the coming sessions. A break below 76 could take it down to 74 before bouncing from there.

Gold (1299.57) is trading in a near term channel and could rise towards 1310-1320 in the coming sessions. But we cannot negate a fall back to levels below 1300 in the near to medium term.

FOREX

Dollar index (93.43) could move lower this week towards levels near 93. Support near 92.8-92.6 (earlier resistance line on weekly line chart) could be crucial and a break below that could be the first signs of a bearish Dollar Index in the weeks to come.

Euro (1.1797): Euro is likely to see an upmove towards 1.1875 in this week. Levels near 1.19 could be a crucial resistance zone. A decisive breach beyond 1.19 could make the Euro bullish in the medium term.

Dollar Yen (109.49) could move lower towards support trendline on daily candles near 109 in the next 1-2 days, after which a bounce back to levels near 109.75 is likely. A break of 109 however could make the Dollar Yen bearish in the coming weeks.

Euro Yen (129.17): After testing resistance on daily and 3 day candles near 130 last week, the Euro Yen is dipping. An upmove in the Euro towards 1.1975 while Dollar Yen stays in the 109.0-109.5 zone in the next 1-2 days gives a target of 129.4-130.0 for Euro Yen, implying that the downmove from resistance might not be very swift. Let’s wait and watch.

Pound (1.3415): Pound had dipped after testing resistance on daily candles (near 1.347) last week. It looks bearish in this week towards levels near 1.33-1.32.

Dollar Rupee (67.5050) : There could be a dip towards 67.3-67.1 in the coming 1-2 sessions. Below that, previous low near 66.80 would be another crucial level, whose break would open up 66.5. Rise beyond 67.85 (less preferred currently) would confirm a rally towards 68.5 (or higher).

INTEREST RATES

Current yields: US 10 Year (2.96%), 30 Year (3.10%), 5 Year (2.80%), 2 Year (2.50%)

A host of key data releases and major events are lined up this week, which could have a significant impact on global yields. The week starts in the backdrop of the rather controversial G7 meet, in which trade worries got further aggravated. This could be one factor inducing risk averseness. The US-North Korea summit in Singapore could be another event which moves investor sentiment. Adding to that, there is the US CPI data release on 12th June, FOMC meet on 13th June , US Retail Sales data release on 14th June and the ECB meeting on 14th June as well.

A rate hike by the US Fed should have already been factored into current yields and hence, might not move yields much. Any increase in CPI or Retail Sales would certainly be bullish for yields. At the same time, some hawkishness could be expected from the ECB which would be bullish for German yields and consequently, for US yields as well. A rise for the US 10 Year yield beyond 3% again or a drop towards 2.60%-2.55% might well hinge on the events of this week. Let’s see how it plays out.

Both North Korean leader Kim Jong-un and US President Donald Trump have arrived in Singapore for the Kim-Trump summit on June 12.

The North Korean state media KCNA said today that both will exchange "wide-ranging and profound views" to re-set relations" and hailed the summit as part of a "changed-era".

KCNA also said both will discuss "the issue of building a permanent and durable peace-keeping mechanism on the Korean Peninsula, the issue of realizing the denuclearization of the Korean peninsula and other issues of mutual concern."