investingLive Americas FX news wrap 26 Jun: Greenback ends mixed, still higher for week

On the currency front, the dollar fell vs the EUR, GBP, CAD but declines were modest. The greenback rose vs the AUD and NZD. It as near unchanged vs the CHF and JPY. Dollar Performance vs. Major Currencies EUR/USD: Euro rose 0.13% to 1.1384 GBP/USD: British pound rose 0.01% to 1.3192 USD/JPY: Dollar fell 0.02% to 161.74 yen USD/CHF: Dollar fell 0.05% to 0.8094 Swiss francs USD/CAD: Canadian dollar rose 0.09%, with USD/CAD falling to 1.4185 AUD/USD: Australian dollar fell 0.22% to 0.6893 NZD/USD: New Zealand dollar fell 0.19% to 0.5636 For the trading week, the USD ended stronger vs all the major currencies with the largest gains coming vs the AUD and the NZD. The greenbacks gains were limited vs the JPY as the USDJPY tested the 40 year high at 161.95 and found willing sellers. EUR, +0.72% JPY +0.27% GBP +0.31% CHF +0.33% CAD, +0.27% AUD +1.70% NZD +1.82% The broader S&P and NASDAQ indices closed lower for the fifth consecutive days (althoug declines in the S&P were modest over the last three trading days). The NASDAQ was the weakest performer, falling 0.24%, while the Dow Jones Industrial Average slipped 0.09% and the S&P 500 edged lower by 0.05%. The NASDAQ index was down 4.60% for the week.The S&P 500 was down 1.95%, its worst weekly performance since the week ending June 1.The Dow Jones Industrial Average continues to hold up relatively well. Although it slipped 0.09% on the day, the blue-chip index still gained 0.60% for the week and remains higher by 1.65% for June. US yields today fell in the shorter and. The longer end saw modest gains: 2 year yield 4.096%, -2.4 basis points 5 year yield 4.133%, -2.9 basis points 10 year yield 4.376% -1.5 basis points 30 year yield 4.868%, +0.9 point basis points Looking at the economic data today: The goods deficit widened sharply to -$105.8B versus -$85.0B expected and -$82.4B prior. Exports fell while imports rose, making net trade a likely drag on Q2 GDP trackers. Bias: weaker. US wholesale/retail inventories Wholesale inventories rose 0.3%, in line with estimates, while retail inventories rose 0.6%. Inventory accumulation can support GDP, but only if demand holds up. Bias: neutral to mildly stronger. University of Michigan consumer sentiment Final June sentiment came in at 49.5, below the 50.0 expected, but above the preliminary 48.9 and May’s 44.8. Consumers are still gloomy, but sentiment improved from May. Bias: mixed, but still weak overall. Overall bias The combined data lean weaker economically. The larger trade deficit is the main negative, sentiment remains depressed, and inventories provide only a modest offset. Kashkari emphasized that his forecast is not set in stone—calling it "a pencil" projection that will depend on incoming data—but reiterated that inflation has been running too high for too long and remains the Fed's top priority. His comments reinforce the increasingly hawkish shift within the Fed, where a growing number of policymakers now see the possibility that rates may need to move higher rather than lower if inflation fails to cool. Next week the US jobs report will highlight the week's data. The date will be released on Thursday due to the observance of the July 4th holiday on July 3. Fed Chair Warsh and other central bankers will highlight the speakers when they all speak on Wednesday at 9 AM. Monday, June 29 Key Speakers 1:30 PM ET: ECB President Christine Lagarde speaks. Tuesday, June 30 Economic Releases German Preliminary CPI (m/m): Forecast +0.1% | Prior -0.2% Canada GDP (m/m): Forecast +0.4% | Prior -0.1% U.S. Conference Board Consumer Confidence: Forecast 94.2 | Prior 93.1 U.S. JOLTS Job Openings: Forecast 7.28M | Prior 7.62M Wednesday, July 1 Economic Releases Eurozone Core CPI Flash Estimate (y/y): Forecast 2.5% | Prior 2.5% Eurozone CPI Flash Estimate (y/y): Forecast 3.0% | Prior 3.2% U.S. ADP Employment Change: Forecast +118K | Prior +122K U.S. ISM Manufacturing PMI: Forecast 53.7 | Prior 54.0 U.S. ISM Manufacturing Prices Paid: Forecast 79.0 | Prior 82.1 Key Speakers 9:00 AM ET: BOC Governor Tiff Macklem speaks. 9:00 AM ET: ECB President Christine Lagarde speaks. 9:00 AM ET: BOE Governor Andrew Bailey speaks. 9:00 AM ET: Fed Chair Kevin Warsh speaks. 10:30 AM ET: ECB President Christine Lagarde speaks. Thursday, July 2 Economic Releases Switzerland CPI (m/m): Forecast +0.1% | Prior +0.2% U.S. Average Hourly Earnings (m/m): Forecast +0.3% | Prior +0.3% U.S. Non-Farm Payrolls: Forecast +114K | Prior +172K U.S. Unemployment Rate: Forecast 4.3% | Prior 4.3% U.S. Initial Jobless Claims: Forecast 220K | Prior 215K Friday, July 3 Key Speakers 4:00 AM ET: ECB President Christine Lagarde speaks. 11:00 AM ET: BOE Governor Andrew Bailey speaks This article was written by Greg Michalowski at investinglive.com.

• The NASDAQ was the weakest performer, falling 0.24%, while the Dow Jones Industrial Average slipped 0.09% and the S&P 500 edged lower by 0.05%.
• The NASDAQ index was down 4.60% for the week.The S&P 500 was down 1.95%, its worst weekly performance since the week ending June 1.The Dow Jones Industrial Average continues to hold up relatively well.
• University of Michigan consumer sentiment Final June sentiment came in at 49.5, below the 50.0 expected, but above the preliminary 48.9 and May’s 44.8.
• Tuesday, June 30 Economic Releases German Preliminary CPI (m/m): Forecast +0.1% | Prior -0.2% Canada GDP (m/m): Forecast +0.4% | Prior -0.1% U.S.
• Initial Jobless Claims: Forecast 220K | Prior 215K Friday, July 3 Key Speakers 4:00 AM ET: ECB President Christine Lagarde speaks.