It's been a relatively calm session in terms of data releases and newsflow. The main highlight were the UK employment report and the German ZEW survey.
The UK data was mostly in line with expectations, so it didn't change anything in terms of market pricing. The German ZEW, on the other hand, missed expectations slightly but the future outlook index surprised to the upside.
We also had a few ECB speakers throughout the session but the gist of it is that the central bank is on a hard pause and they will need significant reasons to adjust rates again. In absence of shocks, small deviations from their target won't require an adjustment.
In the final part of the session we also got comments from US Treasury Secretary Bessent on various topics. They were all positive as he remains upbeat on a deal with China and expects the Supreme Court to back Trump's administration on tariffs.
In markets, the most notable mover has been the US dollar. The greenback weakened further, especially against the Euro and the Swiss Franc. This has been the playbook since last Thursday when we got an in-line CPI and weak initial jobless claims. It turned out that initial claims were negatively skewed by fraudulent filings in Texas, so we can expect them to be revised lower.
The Core PCE for August though is expected to have risen by just 0.2%, keeping the Y/Y rate at 2.9%. That and two consecutive soft NFP reports kept the dovish bets on the Fed intact, although it's unlikely to see the FOMC outdove the market pricing tomorrow.
In the American session we have the Canadian CPI and the US Retail Sales data coming up.
This article was written by Giuseppe Dellamotta at investinglive.com.Hence then, the article about investinglive european fx news wrap us dollar eases further us indices reach new highs was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( investingLive European FX news wrap: US dollar eases further, US indices reach new highs )
Also on site :
- My Wife Doesn’t Know I Watched Her Cheat On Me. My Reaction Might Shock Us Both.
- The Good Ship Murder Christmas special cast: Meet the characters
- Eight fire crews tackling blaze at West Midlands Wetherspoon pub