Commission's economic growth forecast, and trade balance data. Later in the day, US Consumer Confidence and Canadian Manufacturing Sales are due. The US Dollar's decline remains in the spotlight.The US Dollar dropped sharply again after the release of more inflation data from the US. The figures offer signals that inflation continues to cool, triggering more gains in Wall Street and Treasury bonds., which peaked at 11.2% in June 2022, rose 0.
The US Dollar Index dropped below 100.00, reaching its lowest level since April 2022. The DXY has fallen for six consecutive days and is not showing signs of stabilization. The bearish Dollar's momentum remains strong and could lead to further losses. Wall Street cheered inflation figures again. The Dow Jones rose 0.14%, the S&P 500 gained 0.85% , and the Nasdaq rose by 1.58%. Commodities also rose further, with Silver extending weekly gains with a 3% gain to $24.85, while Gold remained steady hovering around $1,960.
The upbeat tone across equity markets remained despite weak June trade data reported by China early on Thursday. Exports fell 12.4% YoY and imports rose 6.8%, both worse than expected. The numbers increase the pressure on Chinese officials to introduce more stimulus.
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