Newsquawk Logo

[MARKET ANALYSIS] DXY flat after crude bid loses steam, Antipodeans lead on China stimulus hopes, GBP awaits Burnham

The DXY remains flat despite initial gains, as geopolitical factors and energy price dynamics are influencing USD movement.

Newsquawk StaffPublished On the live feed at — 3 more headlines followed before this page went public
Newsquawk headlinesUTC

UK Cabinet Ministers Shabana Mahmood, Darren Jones and Wes Streeting are "likely to do well" re. Incoming PM Burnham's cabinet appointments, iPaper reports

Riyadh Air has committed to purchasing 28 Boeing (BA) 787 Dreamliners

[MARKET ANALYSIS] DXY flat after crude bid loses steam, Antipodeans lead on China stimulus hopes, GBP awaits Burnham

Russia's Kremlin says it would welcome new contact between Russian and US foreign ministers; notes of technical contacts between both sides at the foreign minister level

Iraq's SOMO is reportedly looking to buy Aug-Sep gasoil deliveries, according to documents

Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.

Try the platform free
Free. No signup, no card.
  • G10s are mixed, but mostly firmer against the Buck with FX-specific catalysts light, and geopolitics not giving much of a bias. Antipodeans lead after reports of potential Chinese stimulus, GBP performs well into Burnham's appointment as PM.
  • USD continues to be driven by geopolitics, with the Greenback reversing earlier gains in tandem with Energy Benchmarks after Iran’s Foreign Ministry noted the nation is open to returning to talks. Aside from this, fresh drivers are light with last week’s inflation (PPI/CPI) in focus ahead of PCE, with the data slate light in the remainder of this week. DXY saw a modest bid at the Sunday re-open to a 100.80 peak, though reversed as mentioned, to a 100.65 trough.
  • Burnham is set to become UK PM after midday today. The main focus for GBP is whether he confirms Mahmood as Chancellor, after UK press widely reported last week that she would take the job, alongside any remarks around public control in the water/energy sector, and how this would be funded. In other reporting, Streeting is said to be in discussion for Defence Minister; Burnham would retain a ban on new oil and gas licenses in the North Sea, and in an interview with the Times, he said he plans to cut energy bills and noted the tax-free personal allowance (details light). Sterling is one of the best G10 performers today, sitting around 0.85 in the EUR cross and below 1.35 in Cable. The UK calendar today is light; the week sees LFS and Inflation data.
  • Antipodeans are the best performers alongside a broad bid in Chinese assets, where its leaders are expected to decide on additional stimulus measures at the Politburo meeting this month.  AUD/USD, NZD/USD +0.3%.
Context

The Australian and New Zealand dollars are leading the way following positive sentiment around potential Chinese stimulus, while the GBP is gaining momentum as it anticipates Burnham's appointment as UK Prime Minister, with focus on his proposed fiscal policies. This mix indicates potential volatility in the FX markets, particularly for the USD as it responds to external factors and domestic political developments.

Related headlines

The whole workspace, free to try.

Try it free
Newsquawk Logo

© 2026 Newsquawk. All rights reserved.