Deutsche Bank strategists report that Micron’s strong revenue outlook has reignited hopes for AI-driven growth, boosting NASDAQ 100 and S&P 500 futures after recent losses.
Italy Industrial Sales s.a. (MoM) declined to 0.3% in April from previous 2%
Italy Industrial Sales n.s.a. (YoY) down to 3.2% in April from previous 4.4%
Here is what you need to know on Thursday, June 25:
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, continues its winning streak for the fourth successive day and is trading around 101.60 during the European hours on Thursday.
Societe Generale notes that Indian money markets have continued to unwind tightening expectations, with the 1-year swap rate dropping to 5.75% and the 10-year IGB yield easing to 6.80%.
Commerzbank notes that the Bank of Thailand (BoT) kept its policy rate at 1.0% and signalled a cautious stance, prioritizing growth risks over inflation. USD/THB has risen for five consecutive sessions, up 0.9% to 33.43.
The Canadian Dollar (CAD) consolidates losses on Thursday, as the US Dollar (USD) remains buoyed by heightened hopes that the Federal Reserve (Fed) will tighten its monetary policy later this year.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note AUD/USD’s sharp fall to 0.6883 before a modest recovery to 0.6901, with deeply oversold conditions pointing to near-term range trading between 0.6880 and 0.6920.
Dow Jones futures advance 0.15%, trading near 52,350 during the European hours on Thursday. Meanwhile, S&P 500 futures are up by 0.80% near 7,490, and Nasdaq 100 futures rise 2.25%, trading near 30,180 at the time of writing.
Italy Industrial Sales s.a. (MoM) down to 0.3% in April from previous 2%
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that GBP/USD briefly broke below 1.3160 to 1.3140 before recovering to 1.3170, with intraday price action expected to probe 1.3130 while keeping 1.3110 out of reach.
