• In currencies, the Canadian dollar CAD= held on to Monday's strong gains, after a Bank of Canada official said the central bank would assess if it needs to keep interest rates at near-record lows as the economy grows. That was a change in tone for the central bank, which said earlier this year that rate cuts remain on the table.
The so-called loonie strengthened about 0.1 percent to trade at C$1.33 to the dollar, extending Monday's 1.1 percent gain.
• The dollar failed to make up losses against the yen JPY= ahead of a widely expected interest rate increase by the U.S. Federal Reserve this week. It was flat at 109.95 yen, after falling 0.4 percent on Monday. The dollar index .DXY, which tracks the greenback against a basket of trade-weighted peers, was marginally higher at 97.177.
The euro EUR=EBS inched lower to $1.12.
• The U.S. federal government will have enough cash flow to pay its bills through at least early September despite the limit on more government borrowing, Treasury Secretary Steven Mnuchin said on Monday, while urging lawmakers to raise the debt limit soon.
Mnuchin repeated his call for Congress to pass a bill authorizing further borrowing before lawmakers break for a long August summer recess.
The U.S. government posted a wider budget deficit in May than analysts had expected, and has run $433billion into the red since the fiscal year began in October.
• The U.S. Treasury Department unveiled a sweeping plan on Monday to upend the country's financial regulatory framework, which, if successful, would grant many items on Wall Street's wishlist.
The nearly 150-page report that suggested more than 100 changes, most of which would be made through regulators rather than Congress. Republican President Donald Trump has gradually been nominating heads of financial agencies like the Office of the Comptroller of the Currency and the Securities and Exchange Commission to carry out his agenda.
• Euro zone finance ministers and the International Monetary Fund are likely to strike a compromise on Greece on Thursday, paving the way for new loans for Athens while leaving the contentious debt relief issue for later, officials said on Monday.
• Oil edged up on Monday on signs of inventory declines in the United States and news that Saudi Arabia will limit volumes of crude to some Asian buyers in July and deepen cuts to the United States.
Brent crude futures LCOc1 ended the session up 14 cents, or 0.3 percent at $48.29 a barrel, having risen as much as 2 percent to a session high of $49.15. U.S. West Texas Intermediate (WTI) crude futures CLc1 gained 25 cents, or 0.6 percent, to settle at $46.08, having peaked at $46.71.
• Saudi Arabia, the world's top oil exporter, will cut crude allocations to Asia in July to a total of about300,000 barrels per day (bpd), deeper than in June, sources told Reuters. One source said volumes to the United States would be cut by about 35 percent in July.
• Data from market intelligence firm Genscape estimating a draw of more than 1.8 million barrels at the Cushing, Oklahoma delivery point for U.S. crude futures last week added to the bullish sentiment, said traders who saw the data.
• An audio message purporting to come from the spokesman of Islamic State called on followers to launch attacks in the United States, Europe, Russia, Australia, Iraq, Syria, Iran, and the Philippines during the Islamic holy month of Ramadan, which began in late May.
Reference: Reuters
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