The Dow Jones Industrial Average (DJIA) is closing the week as the last major US index standing, having rallied more than 1% to settle just below 52,000, with the record high near 52,300 still in view. That reads as strength until you ask where the buying is coming from.
Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari said during a panel discussion at the Aspen Ideas Festival 2026 in Aspen, Colorado, that he remains concerned about inflation in the service sector, while also noting some signs of improvement in the labor market.
EUR/USD trades on the front foot on Friday but remains on track for a second straight weekly loss as the fragile situation in the Middle East and hawkish Federal Reserve (Fed) outlook keep the US Dollar's (USD) downside limited.
US President Donald Trump posted on Truth Social on Friday that Iran violated the ceasefire after launching drones at ships in the Strait of Hormuz, with one of them hitting the upper deck of a large cargo-carrying ship.
West Texas Intermediate (WTI) US Oil falls 3.25% on Friday and trades around $69.05 at the time of writing, after hitting its lowest level since late February at $68.48 earlier in the day.
The Pound Sterling (GBP) gains 0.20% against the Greenback on Friday as the latter recoils after hitting year-to-date (YTD) highs, with money markets pricing in a less hawkish Federal Reserve (Fed), despite policymakers stating they will focus on inflation.
AUD/USD is recovering near 0.6900 on Friday as the US Dollar (USD) weakens with investors taking profits ahead of the end of the semester after a two-week rally in the Greenback. The move helped the Australian Dollar (AUD) recover some intraday ground, although the full picture remains negative.
Societe Generale economists Reo Sakida and Jin Kenzaki analyze June Tokyo Consumer Price Index (CPI), noting that overall inflation dynamics in Japan changed little from May despite a modest upside surprise in headline and core readings.
GBP/JPY trades in a narrow range on Friday as traders weigh the latest UK political developments against lingering intervention risks from Japanese authorities, with USD/JPY holding above the 161.00 level.
BNY’s Geoff Yu highlights that South Korean equities have delivered exceptional returns in 2026 while institutional investors remain net sellers, particularly from the Americas.
United States Michigan Consumer Expectations Index registered at 50.7 above expectations (49.3) in June
United States UoM 1-year Consumer Inflation Expectations meets forecasts (4.6%) in June
