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DXY Drifts Lower, Stocks Climb; US PCE Inflation Slows

DXY Drifts Lower, Stocks Climb; US PCE Inflation Slows

The Dollar Index, a popular gauge of the Greenback’s value against a basket of 6 major currencies, drifted lower after the Federal Reserve’s gauge of inflation slowed. At the close of trade on Friday, the USD/DXY settled at 102.90, down from 103.35.
ACY Securities | 763 days ago
Fed to Keep Hiking

Fed to Keep Hiking

While US consumer spending on services was way up in May, the reverse was true of goods spending. It looks as though necessary health expenses primarily drove increases, with travel helping. Meanwhile, spending on goods that could be delayed, such as for motor vehicles and spare parts fell significantly.
ACY Securities | 763 days ago
Global manufacturing activity under the spotlight

Global manufacturing activity under the spotlight

Asia Pacific stocks rise on positive global equity moves, signs of cooling US inflation. China's equities increase despite slower manufacturing. Manufacturing PMI updates for major economies expected to confirm contraction. Reserve Bank of Australia faces interest rate decision. US dollar strengthens. GBP/USD falls below 1.27, EUR/USD below 1.09.
Moneta Markets | 763 days ago
Mixed message expected from Eurozone inflation

Mixed message expected from Eurozone inflation

Asian markets mixed, China gains despite PMI dip. UK Q1 GDP steady. UK business confidence rebounds. Eurozone CPI to show lower inflation. US economy stronger than expected. US Treasury yields up, UK gilt yields rise modestly. Sterling weakens vs. dollar, strengthens vs. euro.
Moneta Markets | 767 days ago
EUR & USD still buying?

EUR & USD still buying?

The stable USD overnight looks dull but may simply reflect the offsetting influence of different powerful forces yesterday, there was a series of strong data coming out of the United States.
ACY Securities | 767 days ago
Central banks maintain hawkish rhetoric

Central banks maintain hawkish rhetoric

Asian equities struggle. Central banks hint at policy changes. UK's Q2 GDP estimate due. Eurozone focuses on inflation; ECB faces rate hike pressure. Sweden's Riksbank might raise rates amid inflation. Expected US GDP growth revision and labor softening. GBP/USD and EUR/USD drop due to US dollar strength.
Moneta Markets | 768 days ago