USDCNH Exchange Rate

The University of Michigan released revised data on Friday showing consumer sentiment in the U.S. deteriorated by slightly less than previously estimated in the month of July. The report said the consumer sentiment index for July was upwardly revised to 66.4 from the preliminary reading of 66.0. Economists had expected the reading to be unrevised.

Consumer prices in the U.S. crept up in line with economist estimates in the month of June, according to a highly anticipated report released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1 percent in June after coming in unchanged in May. The uptick by the index matched expectations.

Consumer prices in the U.S. crept up in line with economist estimates in the month of June, according to a highly anticipated report released by the Commerce Department on Friday.

Economic growth in the U.S. accelerated by more than expected in the second quarter of 2024, according to a report released by the Commerce Department on Thursday. The report said real gross domestic product surged by 2.8 percent in the second quarter after jumping by 1.4 percent in the first quarter. Economists had expected GDP to increase by 2.0 percent.

The US Dollar plummeted against the Japanese Yen to 155.60 from 157.37. Rising expectations of a BOJ rate hike at their policy meeting next week weighed on the Greenback.

The Dollar Index, which gauges the value of the Greenback against a basket of 6 major currencies, extended its gains to close at 104.35, up from Friday’s 104.20.

The US Dollar surged against the Japanese Yen despite talk of suspected intervention by Japanese officials. At the close of trade in New York, the USD/JPY pair was up at 157.30 from 156.20 yesterday.

The recent assassination attempt on Donald Trump over the weekend has significantly impacted financial markets. In the immediate aftermath, Trump's odds of becoming the next President soared, alongside a sharp increase in the odds of a Republican sweep in the upcoming elections.