US Dollar has slipped somewhat in early Friday trading.
The US Dollar Index (DXY), which tracks against a basket of six major currencies. Eases and loses earlier gains when news of Israel’s attack on Iran are confirmed by US officials. While markets are expecting any statements or headlines from Iran. Some relaxation is taking place in safe haven assets after earlier significant inflows in the Greenback, the Japanese Yen (JPY).
with the Swiss franc (CHF). Any strong rhetoric from Iran may spark a revival in safe-haven demand and a further sell-off in risk assets.
Tensions in the Middle East rose anew following reports of Israel striking an Iranian military installation.
On the economic data front, the calendar is quite sparse on Friday. With only Federal Reserve Bank of Chicago President Austan Goolsbee scheduled to speak at a conference in Chicago. For the majority of the day, markets will be focused on any Middle East related headlines. In terms of rate projections, if oil prices continue to rise in the coming months. The US Federal Reserve (Fed) may face inflationary pressures due to the rising energy component.
Daily Market movers: The domino has fallen.
The US Dollar Index (DXY), which tracks against a basket of six major currencies. Eases and loses earlier gains when news of Israel’s attack on Iran are confirmed by US officials.
Tensions rise in the Middle East after Israel struck an Iranian military airforce facility. Causing a shock across the markets in various asset classes:
Equities are down.
Bonds are in high demand, with yields dropping.
The Greenback, Swiss Franc, and Japanese Yen all witness significant inflows.
In the commodity arena, both Brent and Crude are rising.
At 14:30 GMT, Federal Reserve Bank of Chicago President Austan Goolsbee will take part in a moderated Q&A session. At the Association for Business Journalists’ 2024 SABEW Annual Conference in Chicago.
Edward Scicluna, a member of the European Central Bank (ECB), made surprising comments.
Edward Scicluna, a member of the European Central Bank (ECB), made surprising comments, saying. That the ECB should consider a 50 basis point drop at its next meeting because inflation is expected to fall below 2%.
Equity markets are not doing well as a result of the increase in The Middle East trades in the red across the board. However, European and US equities futures have rebounded from their lows in the early hours of European trading.
According to the CME Group’s FedWatch Tool, expectations for the Fed’s monetary policy remain unchanged in June.
The benchmark 10-year US Treasury Note trades at roughly 4.59%, relatively flat after briefly rising to 4.63% earlier on Friday.
