Month-end flows notably influenced the session, leading to another instance of underperformance. Equity markets, while ending the month on a positive note, experienced significant volatility into the close, as major participants leveraged the typically higher liquidity around monthly settlement prices for portfolio rebalancing.
Global indices are now closing above their early 2025 highs, completing what has been a volatile yet ultimately successful month of June.
Commodities observed a mixed performance yesterday. and other energy products saw declines, while staged a notable rally throughout the session, closing just above the key $3,300 mark.
The broader macroeconomic landscape remained relatively calm. However, renewed tensions have emerged in Iran, and we will provide further analysis should the situation escalate.
Daily Cross-Asset Performance
Source: TradingView
is the standout performer on the session – Monitor the performance of the second biggest crypto in July as digital assets tend to perform well in the month starting today.
A Picture of Yesterday’s Performance for Major Currencies
Source: OANDA Labs
The story repeats again in yesterday’s month-end flows – The US Dollar lagged again, and Pacific currencies ( and ) are on top of majors.
Today’s asset performance will be essential to monitor in order to see what markets are cooking for the upcoming month.
A Look at Economic Data 
MarketPulse Economic Calendar
Today’s session will see more economic data releases, mostly with the US PMIs, giving more clarity on the current economic picture for the US.
The is releasing today at 10:00 A.M. ET, expected at 48.8. The less market-moving came at a fairly big downward surprise with 40.3 vs 43 expected, markets may be preparing for some surprise in today’s release.
Elsewhere, markets are awaiting for the release from China tonight 21:45 (exp 49), which could be market-moving, particularly for APAC Currencies and Equity markets around the globe that have been performing quite dominantly in the past month.
For traders, get ready for the data release at 5:00 in the overnight session – We will have more clarity if the ECB has more work to do on their Monetary Policy or if the pause gets confirmed further.
Safe Trades!