• US May Personal Income (MoM) -4.2%, -6.0% forecast, 10.5% previous
• US May Core PCE Price Index (YoY) 1.0%, 0.9% forecast, 1.0% previous
• US May Personal Spending (MoM) 8.2%, 9.0% forecast,-13.6% previous
• US May Core PCE Price Index (MoM) 0.1%, 0.2% forecast, -0.4% previous
• US May PCE Price index (YoY) 0.5, 0.5 previous
• US May PCE price index (MoM) 0.1%, -0.5% previous
• US May Real Personal Consumption (MoM) 8.1%, -13.2% previous
• US June Michigan Consumer Sentiment 78.1, 79.0 forecast, 72.3 previous
• US June Michigan Current Conditions 87.1, 87.8 forecast, 82.3 previous
• US June Michigan 5-Year Inflation Expectations 2.50%,2.60%,2.70% previous
• US June Michigan Consumer Expectations 72.3, 73.1 forecast, 65.9 previous
• US June Michigan Inflation Expectations 3.0%, 3.0% forecast, 3.2% previous
• US May Dallas Fed PCE1.50% , 1.40% previous
• U.S. Baker Hughes Total Rig Count 265, 266 previous
Looking Ahead – Economic data (GMT)
• No data ahead
Looking Ahead – Events, Other Releases (GMT)
• No events ahead
EUR/USD: The euro edged lower on Friday as dollar held firm as caution over rapid rises in U.S. coronavirus cases cast doubt over the reopening of the economy. Also supporting the greenback was the broader rise in corporate demand towards the end of quarter. That helped the dollar stay firm despite the stubbornly upbeat risk appetite seen in global equity markets. The euro eased to $1.1212, losing steam after hitting a one-week peak of $1.1348 on Tuesday though the currency has maintained weekly gains of about 0.4%. Immediate resistance can be seen at 1.1247 (23.6% fib), an upside break can trigger rise towards 1.1261 (14 DMA).On the downside, immediate support is seen at 1.1166 (22nd June ), a break below could take the pair towards 1.1126 (38.2% fib).
GBP/USD: Sterling dipped against the dollar on Friday as sterling was weighed down by uncertainty over Brexit negotiations and worries over a second wave of COVID-19 infections as Britain eases its lockdown measures. Sterling is below its pre-referendum levels and little progress has been made in agreeing the country’s future trading relationship with the bloc. The pound was below the key $1.24 level versus the dollar at $1.2335 at 21:23 GMT, down 0.7% on the day. Immediate resistance can be seen at 1.2437 (Daily high), an upside break can trigger rise towards 1.2507 (38.2% fib).On the downside, immediate support is seen at 1.2312 (Daily low), a break below could take the pair towards 1.2307 (50%fib).
USD/CAD: The Canadian dollar weakened to a near four-week low against its U.S. counterpart on Friday as investors worried that a rise in American coronavirus infections could slow the reopening of the U.S. economy. Many U.S. states that were spared the brunt of the initial outbreak or moved early to lift movement restrictions are seeing a resurgence in new infections, with Texas and Florida ordering bars to close down again on Friday. The Canadian dollar was trading 0.2% lower at 1.3664to the greenback Immediate resistance can be seen at 1.4117 (Daily high), an upside break can trigger rise towards 1.42569 (Higher BB).On the downside, immediate support is seen at 1.4047 (9 DMA), a break below could take the pair towards 1.3986 (55 DMA).
USD/JPY: The dollar declined against the Japanese yen Friday as concerns about a surge in coronavirus cases continued to weigh on hopes of a swift economic recovery. Coronavirus cases continued to rise across the United States by at least 39,818 on Thursday, the largest one-day increase of the pandemic. Analysts say market participants have assumed a second coronavirus wave and renewed lockdowns will have limited impact because, if curbs resume, it could heighten the possibility of more stimulus for economies. Strong resistance can be seen at 107.45 (June 26th high), an upside break can trigger rise towards 108.07 (38.2% fib).On the downside, immediate support is seen at 106.76 (50% fib), a break below could take the pair towards 105.95 00(Lower BB).
European stocks closed lower on Friday as losses on Wall Street following a surge in U.S. coronavirus cases added to worries over the pace of the global economic recovery.
UK’s benchmark FTSE 100 closed up at 0.27 percent, Germany’s Dax was down by 0.73 percent, France’s CAC finished was up by 1.18 fib percent.
Wall Street’s major indexes dropped on Friday as the United States set a new record for a one-day increase in coronavirus cases and bank stocks fell following the Federal Reserve’s move to cap shareholder payouts
Dow Jones closed down by 2.91% percent, S&P 500 closed up by 2.48% percent, Nasdaq settled down by 2.07 % percent.
U.S. Treasury yields fell on Friday as continuing public health concerns prevailed over a rebound in consumer spending and sent traders into risk-off mode.
The benchmark 10-year yield was 3.3 basis points lower at 0.6413%, the lowest since June 1.
Gold prices fell on Friday as rival safen-haven U.S. dollar took some shine off the precious metal amid rising coronavirus cases, though concerns about inflation due to easy central bank policies across the globe curbed loses.
Spot gold was down 0.5% at $1,752.91 per ounce by 10:55 a.m. (1454 GMT). U.S. gold futures fell 0.4% to $1,762.90 per ounce.
Oil prices settled lower on Friday as new coronavirus cases spiked in the United States and China, and on growing concerns about rising U.S. output ticking up while crude stockpiles sat at record highs.
Brent crude futures settled down 3 cents at $40.91, falling 1% on the week. U.S. West Texas Intermediate (WTI) crude futures fell 23 cents to $38.49, down 1.6% on the week.