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Japan posted a current account deficit of 132.4 billion yen in June, the Ministry of Finance said on Monday.

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The update to the US Consumer Price Index (CPI) may sway USD/CAD as the Federal Reserve struggles to reduce inflation. The daily price is breaking 1,2934 resistance level to above for the primary daily bullish trend to be continuing, alternatively - the price will be on secondary ranging above Ichimoku cloud waiting for direction.

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Economic data continues to influence the fundamental backdrop with Bitcoin (BTC/USD), Ethereum (ETH/USD) & Cardano (ADA) benefiting from easing recession fears.

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The U.S. dollar is likely to stay supported in the near term on bets that the Fed will remain committed to a hawkish tightening cycle amid red-hot labor markets and elevated inflation. July U.S. inflation data will steal the spotlight next week.

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Gold's recent rally stalls as the latest NFP report tempers recession fears for now.
The daily price is on secondary rally within the primary bearish marjet condition: the price is trying to cross resistance level at 1,794 to above for the rally to be continuing and the possible daily bullish reversal to be started.

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