Marketwatch North America

Daily Insights
June 25, 2024

The dollar has regained some of its footing today after yesterday’s selloff. The U.S. Dollar Index is +0.19%, reversing some of yesterday’s 0.34% drop. Dollar gains among the G10 are concentrated vs. the skandi currencies: +0.68% vs. NOK, +0.38% vs. SEK and +0.30% vs. DKK. Other dollar gains against the majors: +0.74% vs. BRL, +0.45% vs. ZAR, +0.41% vs. MXN +0.29% vs. EUR, +0.26% vs. AUD and +0.23% vs. NZD.

U.S. yields are nearly unchanged compared to yesterday and are rangebound over the last week with traders sidelined until Friday’s Core PCE inflation data.

Consumer Confidence slipped this month, dropping to 100.40 from the prior month’s 101.30.

Canadian month-over-month CPI for May was 0.6%, above both the 0.3% estimate and April’s 0.5%. YoY CPI also surprised on the high side, rising to 2.9% (2.6% estimate) and outpacing April’s 2.7%. USD/CAD traded sharply lower following the CPI release, trading near trendline support at 1.3625, but has since recovered to the day’s mid-range.

USD/JPY continues to trade precariously close to 160.00 as traders test the Bank of Japan’s resolve to defend the JPY. USD/JPY lows are shallower by the day which suggests an upcoming attempt to break 160.00 resistance.

Economic Calendar

USD - FOMC Member Bowman Speaks
AUD - Westpac Consumer Sentiment
CAD - CPI m/m
JPY - BOJ Core CPI y/y
CAD - Median CPI y/y
CAD - Trimmed CPI y/y
CAD - Common CPI y/y
CAD - Core CPI m/m
USD - S&P/CS Composite-20 HPI y/y
USD - HPI m/m
USD - CB Consumer Confidence
USD - Richmond Manufacturing Index
USD - FOMC Member Cook Speaks
EUR - German Buba President Nagel Speaks
AUD - RBA Assist Gov Kent Speaks

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 159.713 159.181
eur/usd 1.07441 1.0692
gbp/usd 1.27021 1.26741
aud/usd 0.66726 0.66363
usd/cad 1.36805 1.36123
eur/gbp 0.84629 0.84307
usd/mxn 18.0729 17.8881
Equities and Commodities
S&P 500 5474.04
NASDAQ 19654.9
DOW 39383
GOLD 2324.41
SILVER 29.21

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.