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Major coins stable, US stock futures rise, focusing on PCE data and month-end trading.
[Coin World] Title: Major currencies open flat today, China says London talks further confirmed framework details. China seeks to link Cognac trade with electric vehicle tariff negotiations. ECB's Knot: The European Central Bank is likely to need to keep interest rates unchanged for some time. ECB's de Guindos expresses hope to achieve a 2% inflation target. People's Bank of China: Will enhance the adjustment力度 of monetary policy. U.S. core PCE expected to rise 2.6% year-on-year, but this will not change any policies of the Federal Reserve. Eurozone's final consumer confidence index for June is -15.3, unchanged from the initial value of -15.3. France's June CPI initial value shows a year-on-year increase of +0.9%, expected +0.7%. Spain's June CPI initial value shows a year-on-year increase of +2.2%, expected +2.0%. Italy's June consumer confidence index is 96.1, expected 97.0. Market: Euro leads the rise, yen lags for the day. European stock markets rise; S&P 500 futures up 0.4%. U.S. 10-year Treasury yield rises 2.2 basis points to 4.275%. Gold falls 1.3% to $3,283.68. WTI crude oil rises 0.4% to $65.48. Bitcoin falls 0.8% to $106,998.
It is another calm trading day, with almost no significant fluctuations in the forex market. The US dollar remained stable throughout the day, with little overall change; however, from a broader perspective, the dollar is still in a relatively weak position after yesterday's decline.
Currently, it is developing towards the release of the US PCE price index and month-end trading.
EUR/USD is stabilizing above 1.1700, and USD/JPY is also slightly higher, mainly around the 144.40-60 levels. Meanwhile, USD/CHF is testing levels below 0.6800, while AUD/USD is still struggling to break through the daily resistance around 0.6537-50.
At the same time, the stock market backdrop is becoming more positive, with investors anticipating that Wall Street will set new record highs later in the day. European stock indices opened higher and maintained this momentum, hoping to reduce some of the losses for the month. U.S. stock index futures remain buoyed, with S&P 500 futures currently up 0.4%, close to their highs.
In other markets, gold declined after breaking below $3,300, as precious metals retreated today, leading to a drop in gold prices this month.
Market focus has shifted back to trade development and the economy/central banks, although month-end capital flows will distract people's attention today and Monday. All of this is happening ahead of the restart in July, as we will move past the geopolitical tensions of the past two weeks.