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US Dollar Index weakens below 101.50 after US PCE inflation as Fed rate hike odds fade
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 101.40 during the early European trading hours on Friday.
Fri, Jun 26
US Dollar: Structural support holds with high-for-longer rates – MUFG
MUFG’s Lloyd Chan notes that strong United States (US macro data continue to support a high-for-longer US rates environment, with Personal Consumption Expenditures (PCE) Price Index inflation and Gross Domestic Product (GDP) both firm.
Fri, Jun 26
Forex Today: Global tech selloff weighs on market mood
Here is what you need to know on Friday, June 26:
Fri, Jun 26
EUR/GBP Price Forecasts: Euro shows signs of bottoming at 0.8600
The Euro (EUR) is trading practically flat, around 0.8615 against the British Pound on Friday, showing some signs of bottoming after bouncing from 0.8600 lows on Wednesday.
Fri, Jun 26
Equities: Rotation persists with strong macro backdrop – Danske Bank
Danske Research Team highlights ongoing sector and regional rotation in global equities, with European and Asian stocks advancing while US equities slipped.
Fri, Jun 26
Japanese Yen: Inflation nears target as BoJ eyes hikes – Commerzbank
Volkmar Baur at Commerzbank highlights that Greater Tokyo inflation has edged up and is now just below 2%, a positive backdrop for the Japanese Yen. With limited second-round effects from Oil and signs of structural normalization, the Bank of Japan can keep normalizing policy.
Fri, Jun 26
162.00: Japanese Yen rebounds as key support holds
The US Dollar (USD) struggles to extend its advance against the Japanese Yen (JPY) above 162.00 for almost a week. The USD/JPY pair is failing to gain further as the US Dollar corrects due to easing market expectations for at least two interest rate hikes by the Federal Reserve (Fed) this year.
Fri, Jun 26
Euro remains stronger despite mixed comments from ECB officials
EUR/USD extends its gains for the second successive day, trading around 1.1380 during the Asian hours on Friday.
Fri, Jun 26
Euro: Consolidation after sharp decline against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has rebounded from deeply oversold levels after dropping to 1.1324, with price action now viewed as consolidation in a slightly higher 1.1345–1.1395 band.
Fri, Jun 26
XRP clings to $1 as long liquidations deepen bearish trend
Ripple (XRP) trades near the key psychological support level of $1 at the time of writing on Friday after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours.
Fri, Jun 26
Sweden Producer Price Index (YoY) rose from previous 4.7% to 6.6% in May
Sweden Producer Price Index (YoY) rose from previous 4.7% to 6.6% in May
Fri, Jun 26
Sweden Producer Price Index (MoM) increased to 1.3% in May from previous 1.1%
Sweden Producer Price Index (MoM) increased to 1.3% in May from previous 1.1%
Fri, Jun 26
Canadian Dollar rebounds as US PCE inflation data eases US rate hike bets
The USD/CAD pair declines to around 1.4190 during the early European trading hours on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) as the US Personal Consumption Expenditures (PCE) Price Index inflation data eases US rate hike expectations.
Fri, Jun 26
NZD/USD Price Forecast: New Zealand Dollar holds losses near 0.5650 amid bearish bias
NZD/USD continues its losing streak that began on June 17, trading around 0.5650 during the Asian hours on Friday. Technical analysis of the daily chart suggests the spot price is moving downwards within the descending channel, reflecting a persistent bearish bias.
Fri, Jun 26
Pi Network Price Forecast: Minor recovery amid market crash fuels short-term hope
Pi Network (PI) price records a mild 3% recovery at press time on Friday, shaping a rebound from a broken descending trendline. The declining trend in trading volume has stabilized around $10 million this week, supporting the possibility of an extended recovery as selling pressure wanes.
Fri, Jun 26
British Pound gains ground to near 1.3200 as traders await Burnham's picks
The GBP/USD pair trades with mild gains near 1.3200 during the early European session on Friday.
Fri, Jun 26
WTI falls below $70.50 due to oil supply surge from Middle East
West Texas Intermediate (WTI) depreciates after registering over 2% gains in the previous day, trading around $70.30 per barrel during the Asian hours on Friday.
Fri, Jun 26
Australian Dollar drops to fresh lows since April vs USD amid global risk-off impulse
The AUD/USD pair attracts fresh sellers following the previous day's modest gains and drops to a fresh low since early April during the Asian session on Friday.
Fri, Jun 26
Singapore Industrial Production (MoM) came in at -0.7% below forecasts (2%) in May
Singapore Industrial Production (MoM) came in at -0.7% below forecasts (2%) in May
Fri, Jun 26
Singapore Industrial Production (YoY) below forecasts (17%) in May: Actual (13%)
Singapore Industrial Production (YoY) below forecasts (17%) in May: Actual (13%)
Fri, Jun 26
