N.Y. FX Outlook: The dollar
N.Y. FX Outlook: The dollar held most of Tuesday's gains versus the euro overnight, trading mostly under 1.1750, though unable to take out yesterday's 1.1715 lows. USD-JPY fell on the latest rise in N. Korea/U.S. tensions, leaving the pairing under 110.00 through much of the London morning session. USD-CAD was steady on the back of relatively stable oil prices. Markets will likely remain nervous given the recent geopolitical developments, while focus will continue on equity, bond, and gold markets, which will be an indicator of risk taking levels.The U.S. economic calendar picks up with preliminary Q2 productivity and unit labor cost data. The former is seen rising at a 0.5% pace from the previous unchanged reading, while the latter should rise 0.5% versus the 2.2% increase in Q1. June wholesale trade figures should reveal a 0.6% increase in inventories, from the prior 0.4% bump, while sales are expected to rebound 0.5% versus the previous 0.5% decline. Weekly MBA mortgage and oil inventory data are also on tap.