News

New Zealand’s manufacturing sector showed modest signs of stabilization in June, with the BusinessNZ Performance of Manufacturing Index rising from 47.4 to 48.8. While still signaling contraction, the gain was underpinned by an encouraging rebound in new orders, which jumped from 45.4 to 51.2—breaking back into expansion. Employment (47.9) and production (48.6) also improved slightly, […]

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San Francisco Fed President Mary Daly said overnight that the time has come to seriously consider lowering interest rates, citing the need to preserve the current strength of the US economy. “I really am of the view that it’s time,” she said, adding that two rate cuts this year now look like a “likely outcome.” […]

The post Fed’s Daly sees two cuts in 2025, says tariff-driven inflation may not materialize appeared first on Action Forex.

There is just one to take note of on the day, as highlighted in bold.

That being for EUR/USD at the 1.1700 level once again. This time around, the dollar managed to push higher in overnight trading and EUR/USD broke below the figure level on the week. As such, the expiries might still offer some pull factor but it looks like sellers are starting to shake things off and get better downside momentum.

Trump threatening higher tariffs and markets getting a little bit more angsty is keeping the dollar more bid this time around. The general line of thinking here is that his tariff threats might be more credible this time around. But in time, we’ll see.

For more information on how to use this data, you may refer to this post here.

This article was written by Justin Low at www.forexlive.com.