US dollar traded mixed on the quote board.

The US Dollar (USD) trades mixed on Friday, as markets seek direction amid a marked rotation in the equities markets. With an interest rate cut from the US Federal Reserve (Fed) being a near certainty in September, investors are shifting away from the big tech names and heading into smaller stocks and blue chips that represent more niche sectors that should see demand pick up with more disposable income available once rates Get cut. Meanwhile, concerns about US President Joe Biden grew after he called Russian President Vladimir Putin and Ukraine’s President Volodymyr Zelensky during a high-stakes NATO summit, which could be the final straw for some of his financial supporters.

Markes digested the recent disinflationary CPI figure, while Biden failed to deliver at a critical juncture.

On the economic front, the Producer Price Index (PPI) for June looks promising, allowing traders to determine whether prices for producers and resellers are on the same disinflationary trend as the Consumer Price Index. Later this Friday, the University of Michigan will issue preliminary July Consumer Sentiment and Inflation Expectations numbers. Expect bumpy trading, with additional easing figures that may clash with Dollar bulls.

Daily Market movers: Now it becomes tricky.The US Dollar index has stabilized following its steep drop.

Joe Biden, the US president, dropped the ball in what some media sources saw as a make-or-break moment for the President. Unfortunately, President Biden made another mistake by phoning Vice President Trump instead of Vice President Camilla Harris and confusing Ukraine President Volodymyr Zelensky with Russian President Vladimir Putin. It was terrible to see them shake hands just after President Biden made the error.
At 12:30 GMT, the June Producer Price Index (PPI) statistics will be released:
Monthly headline PPI is predicted to rise to 0.1% from -0.2%.
Monthly core PPI should also rise to 0.2% from 0.0%.
The annual headline PPI is predicted to rise modestly to 2.3% from 2.2%.
The annual core CPI is predicted to increase by 2.5% from 2.3%.
Around 14:00 GMT, the University of Michigan will give a preliminary reading for July:
Consumer sentiment is predicted to rise to 68.5 from 68.2, while 5-year consumer inflation forecasts stay at 3%.

Equity markets are experiencing some sector rotation from investors.

Equity markets are experiencing some sector rotation from investors now that a rate decrease in September appears to be unavoidable. Profit taking is occurring in big tech equities, whilst tiny and blue chips are experiencing inflows. European shares are up about 0.50% today, while US futures are slightly lower.
The CME Fedwatch Tool is widely supportive of a rate drop in September. The current odds for a 25-basis-point decrease are 86.4%. A rate standstill is 7.5% likely, while a 50-basis-point rate drop is a remote 6.2% likelihood.
The US ten-year benchmark the rate is currently 4.22%, having fallen to a new low for 2024 on Thursday in the aftermath of the CPI report.