Financial Market Newsletter

The USD weakened against most major currencies yesterday (-0,12%) due to weaker data from the labor market, durable goods orders, and home sales in the U.S.

The JPY fell to its lowest level in 38 years against the USD (160,82) last night amidst a significant interest rate differential between the two leading world economies.

The USD Index recovered by 0,2% last night after Federal Reserve Governor Michelle Bowman stated that maintaining high interest rates for an extended period is necessary to curb inflation and did not rule out further rate hikes.

The CNY fell to its lowest level in seven months against USD (7,2618) at the beginning of this week and is heading towards its lowest level since 2008 of 7,3498.

The USD Index continued to rise by nearly 0,2% on Friday, closing the previous week with a 0,3% increase, marking the third consecutive week of gains.

The USD gained over 0,4% against other major currencies last night due to the widening interest rate policy gap between the U.S and other leading economies.

The USD Index slightly declined for the third consecutive day as the U.S. market was closed yesterday due to the impact of weaker-than-expected retail sales reports.

Retail sales in the U.S. barely grew in May while revised data from previous months showed lower figures than initially reported, indicating that financial pressures are significantly affecting consumer purchasing power.

The USD Index slightly decreased by nearly 0,2% yesterday as the EUR recovered (+0,3%) but the market continues to closely monitor the political instability in Europe.