Here is what you need to know on Friday, June 30: June inflation data from the Eurozone and the Personal Consumption Expenditures (PCE) Price Index, t
edged lower to 53.2 from 54.5 in the same period but came in much higher than the market expectation of 50.8. Risk mood appears to be holding neutral in the European morning with US stock index futures trading virtually unchanged on the day. Meanwhile, the USconsolidates weekly gains slightly below 103.50 and the benchmark 10-year US Treasury bond yield holds comfortably above 3.8% following Thursday's upsurge.
The US Bureau of Economic Analysis revised the annualized Gross Domestic Product growth for the first quarter higher to 2% from 1.3% in the previous estimate. Additionally, weekly Initial Jobless Claims in the US declined sharply to 239,000 from 265,000. These upbeat data releases provided a boost to the US Dollar in the American session on Thursday.
On Thursday, Germany's Destatis reported that the annual Consumer Price Index climbed to 6.4% in June from 6.1% in May. Although the Euro gathered strength against its rivals with the initial reaction to hot German inflation data, EUR/USD failed to keep its footing. Pressured by the broad USD strength,GBP/USD
dropped below 1.2600 for the first time in two weeks on Thursday before staging a technical correction. Early Friday, the pair trades within a touching distance of 1.2600. The UK's Office for National Statistics reported earlier that the GDP grew at an annual rate of 0.2% in the first quarter, matching the previous estimate and the market expectation.extended its rally to a fresh multi-month high above 145.00.
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