[MARKET ANALYSIS] DXY gains amid the negative bias overnight, as well as upside in oil and yields

DXY: +0.1%Marginally gained amid the negative bias seen in Asia-Pac, as well as the upside in oil and yields, while there was little in the way of major fresh catalysts outside of geopolitics for the US. Nonetheless, the White House released a Fact Sheet regarding last week’s Trump-Xi summit, which stated that China will purchase at least USD 17bln in US agricultural products annually through to 2028, and it was reported on Friday that the Fed named Powell as chair pro tempore until his successor, Warsh, is sworn in.EUR/USD: -0.1%Languished firmly beneath the 1.1700 handle following last week's retreat and with very light newsflow from the bloc to spur the single currency, while China’s MOFCOM also pushed back against the EU’s use of its Foreign Subsidies Regulation.GBP/USD: -0.1%Tested 1.3300 to the downside as the UK political landscape remains in limbo with PM Starmer reportedly mulling whether he would bring more government stability by announcing a timetable for his departure and a leadership election, while former Health Secretary Streeting said he would battle Manchester City Mayor Burnham for the leadership and called for the UK to rejoin the EU, while Burnham played down rejoining the EU.USD/JPY: +0.1%Marginally edges closer to the 159.00 level with the Japanese currency facing headwinds from higher oil prices and anticipation that the government will issue more debt for an additional budget to soften the blow from the Middle East conflict.Antipodeans: AUD/USD -0.4% / NZD/USD -0.1%Remained lacklustre after last week's declines and with price action also constrained by the disappointing Chinese activity data.