The dollar remains robust as a new quarter begins, while stocks hold onto their highs. The US ISM Manufacturing PMI stands in a busy day on the calendar, and OPEC+ is set to ramp up output. Cryptocurrencies on the back foot. 

End-of-quarter flows have failed to stem dollar strength, and the greenback’s gains continue into the new quarter. The currency is rising despite a drop in 10-year Treasuries to 1.47%. Gold stands out with a recovery toward $1,780, levels seen early in the week. The S&P 500 Index closed its most successful first half since 1998.

The ISM Manufacturing Purchasing Managers’ Index is set to hold up above 60, pointing to rapid growth in the industrial sector. Investors will eye the employment component as a hint toward Friday’s Nonfarm Payrolls, while the Prices Paid figure serves as a gauge of inflation.

ADP’s job figures came out better than estimated, yet were mostly shrugged off by markets. Weekly jobless claims are also awaited and are set to show similar levels to last week. 

EUR/USD is trading under 1.1850 ahead of final manufacturing PMIs for June and the release of the eurozone’s unemployment rate. On Wednesday, the euro area’s inflation figures showed a minor moderation.

GBP/USD is trading closer to 1.38 ahead of Bank of England Governor Andrew Bailey’s public appearance and Chancellor Rishi Sunak’s highly-anticipated Mansion House speech. Sunak is set to lay out a vision for the economy. 

OPEC+ countries led by Saudi Arabia and Russia are expected to announce an increase of around 500 million barrels per day in their meeting, yet uncertainty remains elevated. WTI Crude Oil is hovering above $73. The Canadian dollar is benefiting from the upswing in oil prices and also better-than-estimated Canadian GDP.

Cryptocurrencies have been retreating, with Bitcoin slipping under $34,000 and Ethereum dropping below $2,200. Dogecoin, favored by Tesla founder Elon Musk, stands out with high volatility.