FX

Gold price sticks to key support level, set for third consecutive weekly gain on Fed rate cut expectations. US PPI rises above estimates; University of Michigan Consumer Sentiment drops, inflation expectations moderate. CME FedWatch Tool indicates 94% chance of September rate cut; US Dollar Index falls over 0.40% to 104.09. Gold’s price clung above $2,400
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QuantumScape stock rises another 17% on Friday, following Thursday’s 30% run. Wall Street cheers on battery maker, loves capital-light strategy. NASDAQ, S&P 500 advance further after June CPI falls. Volkswagen could end up producing QuantumScape batteries for as many as 1 million vehicles annually. QuantumScape (QS) stock is refusing to fade on Friday after its 30% Thursday
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US Dollar continues losing ground in light of weak CPI figures and UoM data. Markets still foresee a September rate cut. Despite hot PPI data, US Treasury yields are falling, diminishing allure of USD. The US Dollar Index (DXY) remains weak on Friday, sitting at April lows. This is largely a response to the soft
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FX option expiries for July 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below – EUR/USD: EUR amounts 1.0650 1.5b 1.0700 2.8b 1.0745 1.5b 1.0770 1.8b 1.0815 758m 1.0860 989m 1.0900 1.3b – USD/JPY: USD amounts                      159.50 455m 160.00 567m 160.20 832m 161.00 1.5b 161.50 901m 162.35 690m – USD/CHF: USD amounts      0.8935 696m
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A vacillating session saw the Greenback extend its weekly consolidation amidst erratic performance in the risk complex, as investors evaluated another congressional testimony by Chair Powell prior to the publication of US CPI data. Here is what you need to know on Thursday, July 11: The USD Index (DXY) kept the vacillating mood just above
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The Japanese Yen defends gains as the US Dollar turns south ahead Fed Chair Powell’s second testimony. Powell stated that a rate cut is not appropriate until the Fed gains confidence that inflation is moving toward 2%. The Bank of Japan is poised to assess a viable strategy for scaling back its government bond purchases. The
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Mexican Peso rallies as USD/MXN drops below 18.00 and hits lowest level since June 25. June’s CPI report, Consumer Confidence, and Industrial Production to shape Mexico’s economic outlook. Banxico minutes likely to signal patience on rate cuts amid steady inflation expectations. The Mexican Peso rallied sharply against the US Dollar as the USD/MXN fell below
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