Marketwatch North America

Daily Insights
June 17, 2024

The U.S. Dollar Index is trading at 105.556, just below its two-month high at 105.805. With the Fed standing firm on rates (waiting for a convincing decline in inflation) against a backdrop of recent and expected cuts from other central banks, the dollar remains the dominant go-to currency. The dollar is higher vs. most G10 today, the only exceptions a 0.13% decline vs. EUR and 0.10% drop against the DKK. The dollar’s primary gains against the majors include a 0.70% advance vs. MXN, +0.64% vs. BRL, +0.50% vs. NZD and several sub-0.50% gains.

U.S. Treasury yields are edging higher with the long-term tenors gaining the most. The 30-year tenor is leading all gains, +0.068%. The 10-year yield is rebounding from Friday’s dip to 4.194%, its lowest return since March 28th.

The U.S. economic calendar is full this week. Key data releases include tomorrow’s Retail Sales and Industrial Production, Wednesday’s Industrial Production, Thursday’s Weekly Jobless Claims and Housing Starts, and Friday’s Manufacturing PMI and Existing Home Sales.

Federal Reserve speakers today include Williams (12pm), Harker (1pm), and Cook (9pm).

Economic Calendar

All - G7 Meetings
AUD - ANZ Job Advertisements m/m
CNY - New Home Prices m/m
CAD - Housing Starts
CAD - Foreign Securities Purchases
USD - Empire State Manufacturing Index
CNY - Industrial Production y/y
CNY - Retail Sales y/y
CNY - Fixed Asset Investment ytd/y
CNY - NBS Press Conference
CNY - Unemployment Rate
CHF - SECO Economic Forecasts
NZD - Westpac Consumer Sentiment

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 157.939 156.923
eur/usd 1.07186 1.06862
gbp/usd 1.26883 1.26571
aud/usd 0.66179 0.6585
usd/cad 1.37546 1.37089
eur/gbp 0.84594 0.84084
usd/mxn 18.5899 18.3544
Equities and Commodities
S&P 500 5426.32
NASDAQ 19668.8
DOW 38457.9
GOLD 2325.6
SILVER 29.52

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.