| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | Producer Price Index (MoM) | May | -0.6% | -0.3% | -0.2% |
| 06:00 | Germany | Producer Price Index (YoY) | May | -0.9% | -1.2% | -1.2% |
| 06:00 | United Kingdom | PSNB, bln | May | -20.05 | -17.1 | -17.69 |
| 06:00 | United Kingdom | Retail Sales (MoM) | May | 1.3% | -0.5% | -2.7% |
| 06:00 | United Kingdom | Retail Sales (YoY) | May | 5% | 1.7% | -1.3% |
During today's Asian trading, the US dollar fell against major currencies, but is on track for its largest weekly gain in over a month, driven by heightened geopolitical tensions in the Middle East and lingering concerns over inflation and global growth.
Escalating conflict between Israel and Iran, including a week-long aerial campaign, has intensified demand for safe-haven assets. Fears of potential U.S. involvement—President Trump is expected to make a decision within two weeks—have kept markets on edge, despite a brief easing of investor nerves.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.11% to 98.68, but has gained 0.5% since the beginning of the week, buoyed by safe-haven flows.
Brent crude prices slipped over 2% to $77 per barrel, but remain near recent highs, adding pressure on inflation and complicating central banks’ policy paths.
Risk-sensitive currencies like the euro and yen rose slightly, with the euro up 0.2% and the yen gaining 0.1%. Japanese inflation data and hawkish Bank of Japan minutes kept rate hike expectations alive. Meanwhile, the Swiss franc remained flat but was headed for its worst weekly performance since April after the central bank cut rates to 0%. The Australian and New Zealand dollars edged higher by 0.1%, while sterling climbed 0.1%.
The Fed maintained its projection for two rate cuts this year, but Chair Powell’s cautionary remarks were interpreted as hawkish, supporting the greenback.
Trade concerns linger, with Trump’s July tariff deadline approaching. European officials now expect a 10% baseline in U.S.-EU tariff negotiations.
In China, the yuan held steady at 7.18 after the People’s Bank of China left lending rates unchanged. Economic data suggest China remains on track to meet its 5% growth target, with May’s industrial output slowing slightly while retail sales accelerated.