Dollar index (Dxy00) Thursday -0.71%fell. The dollar declined 3–1/4 years on Thursday to decrease on Thursday as President Trump’s comments promoted trade uncertainty and weighed over the dollar. Late Wednesday night, Mr. Trump said that he intends to send letters to dozens of American business partners to set up unilateral tariffs in the next one to two weeks, which came with a 90-day break before the July 9 deadline. Losses in dollar suffered losses on Thursday after weak-to-the-affected US unemployed claims and PPI reports, which emphasized expectations for the fed rate cut later this year.
The US weekly early unemployment claims were unchanged at an 8 -month high of 248,000, showing a weaker labor market compared to the expectations of a fall of 242,000. Showing a weaker labor market compared to 1.956 million weekly continuous claims, 1.956 million grew +54,000 to 3–1/2 years at a high level of 1.956 million.
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US May Final-Demand PPI report went from +2.5% y/y to +2.6% y/y, right on expectations. May PPI Pre-Funny and Energy Report reduced from +3.2% y/y +3.0% y/y in April, better than expectations of +3.1% y/y.
After June 17-18 FOMC meeting, the market is giving exemption to 3% possibility for cutting -25 BP rate cuts.
EUR/USD (^Eurusd) On Thursday, +0.78% rose and posted at a high level of 3–1/2 years. The Euro on Thursday held rallies in the form of uncertainty of trade and weak US economic reports. In addition, ECB Executive Board member Schnabel said that the ECB’s interest rate reduction campaign soon Hawkish ECB comments promoted the euro, and ECB’s Governing Council member Soluchus said that it was a stagnation of interest rate by the ECB.
ECB Executive Board member Schnabel said that the interest rate-cutting campaign of ECB may soon end, on the track on both inflation and economy.
ECB, a member of the ECB Governing Council, said that it is a stagnation in the interest rate moves by the ECB due to “great uncertainty” on the US tariff policy.
In the July 24 policy meeting, the ECB is giving exemption to the possibility of 13% for cutting -25 BP rate cuts.
USD/JPY (^Usdjpy) Thursday -0.71%fell. Yen climbed a 1-week high against the dollar on Thursday, when the demand for safe havan increased after the tariff threats from President Trump and increased trade uncertainty and weighed over the dollar. Yen added to its profit on Thursday after a weak-to-the-related reports on American unemployed claims and the PPI reduced the T-Note yield.
Japan’s Q2 BSI large manufacturing business status weakened from -2.4 to -4.8 Q/Q in Q1.
August gold (Gcq25) On Thursday +58.70 ( +1.76%), and July silver (Sin25) Closed +0.034 ( +0.09%). Precious metals settled rapidly with gold at a high level on Thursday. The dollar index is higher in the price of propelled metals less than 3–1/4 years on Thursday. In addition, President Trump’s tariff hazards have promoted the uncertainty of business and have promoted demand for precious metals as a safe shelter. In addition, Thursday’s US economic reports were weaker than expected and for Fed policy, were a rapid factor for precious metals. Finally, the growing tension in the Middle East is promoting safe-heaven demand for precious metals, when US authorities ordered some employees to leave the US embassy in Baghdad, as Iran threatened to attack American hideouts in the area when Iran attacked.
Silver gave most of its benefits on Thursday due to concerns about the demand for industrial metal. Thursday’s UK manufacturing production and industrial production reports for May were weaker than expected, a negative factor for demanding industrial metals. In addition, President Trump’s latest tariff threats can curb economic activity and demand for industrial metals.
UK APR manufacturing production -0.9% m/m fell, -0.7% weakened with expectations of m/m. In addition, APR industrial production -06% m/m fell, -0.5% weakened with expectations of m/m.
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