Markets are generally cautious ahead of Q2 GDP data from US today. EUR/USD lost some momentum after hitting 1.3105/3123 cluster resistance and turned sideway while other major dollar pairs are generally staying in tight range, except USD/JPY.

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Daily Report: Yen Climbs on Poor Data, Market Cautious ahead of US GDP

The greenback edged up slightly against the major currencies in the Tuesday session, with the exception of the British pound which improved by 0.7%. The major US equity bourses traded flat on the day with the Nasdaq marginally lower by almost 0.4% while the Dow Jones eked out a 0.1%

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AUD Plunges On Inflation Data

Dollar and commodities were the major victims last week on a flush of risk aversion sales on concern of economic slowdown in the US plus impressively strong rebound in European majors as funding concerns eased. Dollar index dropped as much as -1.26% over the week to close at 82.57. EUR/USD

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Weekly Review and Outlook: Euro Jumped ahead of Stress Test Result, Yen Soared on Risk Aversion