Author: FX
Baker Hughes data:Oil rigs -6 to 432Nat gas rigs -2 to 109WTI crude oil is trading down 11 cents to $67.65. This article was written by Adam Button at www.forexlive.com. Source link
EUR/USD extends winning streak to seven days, hovering near 1.1726 after reaching a multi-year high of 1.1754.The US Dollar is pressured by Trump’s remarks, mixed macro data and Fed cut bets.Focus shifts to next week’s Eurozone flash inflation and US ISM PMI data.The Euro (EUR) climbs for an eighth consecutive day against the US Dollar (USD) on Friday, as the Greenback remains under pressure amid a combination of political and economic headwinds. Renewed criticism of Federal Reserve (Fed) Chair Jerome Powell by US President Donald Trump, easing geopolitical tensions, and a string of mixed US economic data are fueling expectations…
SPX dailyThe S&P 500 is up 45 points to a fresh record at 6185.It’s bee a great week for stock markets following the Iran-Israel war and the S&P 500 is up 3.6% WTD. The market isn’t rattled by Trump trade comments as it’s concluded that tariffs won’t be overly inflationary and that other countries aren’t likely to retaliate.Technically, a close anywhere above 6147 — which was the Feb high — is bullish and the higher the better. Next week is holiday-shortened by July 4 and the turn of the quarter could have some impacts. Beyond that, we will have to…
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EUR/JPY trades near 170.00, its highest level since July 2024, on Friday.Soft Japanese data and steady BoJ stance undermine Yen demand.The euro remains firm despite a drop in Eurozone economic sentiment.The Euro (EUR) strengthens against the Japanese Yen (JPY) on Friday, with the EUR/JPY pair climbing toward levels not seen since July 2024. The cross is buoyed by a combination of strong Euro demand and persistent Yen weakness, as diverging monetary policy outlooks between the European Central Bank (ECB) and the Bank of Japan (BoJ) continue to drive the uptrend.At the time of writing, EUR/JPY is trading just shy of…
Gold weakens as risk sentiment improves, US equities rally pushing S&P 500 futures to record highs.Core PCE inflation for May rises along with June Michigan Consumer Sentiment Index while inflation expectations fall.XAU/USD remains on the backfoot with selling pressure increasing below $3,300.Gold (XAU/USD) is on the defensive heading into the weekend, pressured by a combination of mixed US data and improving global risk sentiment. The precious metal is trading below $3,300, down nearly 2% on the day, as safe-haven flows continue to unwind. Friday’s core PCE inflation print showed a modest uptick in May, reinforcing the Fed’s cautious stance and…
US Supreme Court limits power of judges to block Trump's birthright citizenship order Source link
S&P 500 marks new all-time high at 6,170.NASDAQ also garners new all-time high on Friday.Rising PCE inflation in May fails to distract investors.UBS raises year-end S&P 500 target to 6,200.The S&P 500 has garnered a new all-time high on Friday, reaching 6,170 at the time of writing to overtake the February 19 high from four months ago. The index has risen slightly more than half a percentage point.The victory comes despite the Federal Reserve’s (Fed) favorite gauge of inflation — the core Personal Consumption Expenditures Price Index (PCE) — coming in higher than expected for May in the premarket. The…
Dollar Index falls after the Fed’s preferred measure of inflation, the core PCE, rises in May.US Dollar continues to weaken, with the DXY nearing Thursday’s low of 97.00US Michigan Consumer Sentiment Index and Michigan Expectations ahead, providing additional insight into how consumers feel about current conditions.The US Dollar Index (DXY) is nearing 97.00 support as investors digest the latest batch of inflation data released out of the United States.Friday’s US core Personal Consumption Expenditure (PCE), released by the US Bureau of Economic Analysis, has served as an additional catalyst for DXY.This report, which represents the pace at which prices are…
USD/INR slides to two-week low amid broad US Dollar weakness and strong Rupee demand.Rupee supported by FII inflows, equity market gains, and falling Crude Oil prices.DXY holds near a three-year low as Trump’s Fed criticism and soft US GDP fuel rate cut bets.The Indian Rupee (INR) strengthens further on Friday, riding a wave of US Dollar (USD) weakness, as the Greenback slides further amid political noise and soft economic prints. US President Donald Trump’s fresh criticism of Federal Reserve (Fed) Chair Jerome Powell, paired with weaker-than-expected US Q1 Gross Domestic Product (GDP) data released on Thursday, is weighing heavily on…