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Forexlive Americas FX news wrap: European political turmoil on center stage

June US UMich June prelim consumer sentiment 65.6 vs 72.0 expectedMacron’s gamble is looking like a disaster as new poll releasedFrance’s Macron: Economic programs by two extremists blocks are not realisticChicago Fed Pres. Goolsbee CPI data this week was very goodBaker Hughes US oil rig count -4ECB’s Lagarde: Unless we have a major shock, target is inflation to hit 2% in H2 2025Fed’s Mester: We are starting to see inflation move down again after stallingUS import prices -0.4% vs +0.1% expectedCanada April wholesale sales +2.4% vs +2.8% expected


Gold up $30 to $2331WTI crude down 13-cents to $78.47US 10-year yields down 2.3 bps to 4.21%CHF leads, GBP lagsS&P 500 flat

The US dollar continued its climb early in the North American session with the euro and pound under particular pressure but those moves later reversed to finish final hours of the week flat. The Australian and Canadian dollar followed a similar path, recovering a portion of the losses that peaked at 10 am ET.

Some of the dollar selling came after a softer UMich sentiment survey, highlighting the vulnerabilities in the US economy, especially with the Fed in no rush to cut.

Have a great weekend.

This article was written by Adam Button at www.forexlive.com.

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