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Forexlive Americas FX news wrap: US dollar shakes off PPI and jobless claims misses

2024-12-30FOREXLIVEFOREXLIVE
Forex news for North American trading on Jun 13, 2024
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  • US May PPI 2.2% y/y vs +2.5% expected
  • US initial jobless claims 242K versus 225K estimate
  • US Treasury auctions off $22 billion of 30-year bonds at a high-yield of 4.403%
  • Treasury Secretary Yellen: Strong US growth is lifting global growth
  • BOC's Kozicki: We expect to end quantitative tightening at some point in 2025

Markets:

  • Gold down $19 to $2303
  • WTI crude oil down 52-cents to $77.98
  • CHF leads, EUR lags
  • US 10-year yields down 5.1 bps to 4.24%
  • S&P 500 up 13 points to 5433

The US dollar is showing some impressive chops but it's unclear whether that's due to economic resilience or the mess in European politics. I'd lean to the latter as France descends into turmoil following the election call and the market shifts to Treasuries from European sovereigns.

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