US markets opened strongly, following the huge 250th Independence Day celebrations, over the long weekend. US equities gained further ground, hitting record highs, while the US Dollar was steady. The EUR traded around 1.1440, while the GBP attempts to regain 1.3400. US ISM Services PMI numbers were steady, if not slightly softer than expected. German Factory Orders remain strong, boosted by military demand, rather than traditionally manufactured products.Commodity currencies are struggling to bank recent gains, with the AUD trading around 0.6950, while the NZD attempts to hold 0.5700. Australian inflation data reflected the extended higher rates, while NZ Commodity Prices lost 1%. The local focus will be the looming RBNZ rate decision.
