Chelton Wealth - Markets

Chelton Wealth—Chelton AB. Currency-focused Investment Management.

[Chelton Wealth - Markets @Xs2Chelton]

#DATA
14:30 CET CAD #GDP m/m exp. 0.4%

[Chelton Wealth - Markets @Xs2Chelton]

Across Asia, China's #PMI surprise offered support to the #yuan even as domestic demand remains subdued, and #sterling edged up on U.K. political transitions. Attention shifts to today's Canadian #GDP print alongside key U.S. labour flows and Australian employment cues.

[Chelton Wealth - Markets @Xs2Chelton]

The #JPY slid to a fresh four-decade low beyond 162 per dollar, triggering talk of intervention from Tokyo as U.S. yields edged higher on looming #Fed rate signals, while the dollar index #DXY held near 13-month highs. $USDJPY

[Chelton Wealth - Markets @Xs2Chelton]

The #ECB maintained its hawkish tilt at Sintra, with #Lagarde pointing to a more resilient #Eurozone, thanks to a stronger financial framework and progress on the green transition, keeping EUR around the 1.14 level.

[Chelton Wealth - Markets @Xs2Chelton]

In #FX, the #yen hovered near 162 per dollar despite intervention risk, the #yuan held around 7.14 amid signs of stabilising factory activity, and sterling remained sensitive to UK political uncertainty. The #CHF stayed focused on #SNB policy signals and broader risk sentiment.

[Chelton Wealth - Markets @Xs2Chelton]

#Fed Chair #Warsh's hawkish first #FOMC communication continued to bolster rate-hike expectations.

[Chelton Wealth - Markets @Xs2Chelton]

Central banks dominated headlines. The PBOC launched overnight reverse repos to improve short-term liquidity management, while the #SNB kept its policy rate unchanged at 0%. Focus now turns to this week's #ECB Sintra forum and the upcoming #BoJ Tankan for further policy signals

[Chelton Wealth - Markets @Xs2Chelton]

Markets remained cautious as renewed U.S.-Iran diplomacy helped contain #oil volatility, while fresh Gulf risks and stretched AI valuations kept risk appetite fragile. The dollar held firm near recent highs as investors continued to price a more hawkish #Fed path.

[Chelton Wealth - Markets @Xs2Chelton]

#Sterling lagged as markets continued to price the structural growth drag from Brexit, while the ##franc #CHF and #loonie #CAD remained focused on upcoming central bank signals.

[Chelton Wealth - Markets @Xs2Chelton]

In Europe and EM, Brussels' plans to expand import quotas and tariffs on Chinese goods continued to weigh on sentiment toward the #euro and #yuan.

[Chelton Wealth - Markets @Xs2Chelton]

The Australian dollar #AUD underperformed as mixed May labour data and elevated core inflation kept #RBA policy uncertainty alive after the June pause at 4.35%.

[Chelton Wealth - Markets @Xs2Chelton]

The #yen stabilised near four-decade lows, with intervention risk still in focus and #BoJ officials signalling that further tightening is likely to remain gradual. $USDJPY

[Chelton Wealth - Markets @Xs2Chelton]

May #PCE rose 4.1% year over year, the highest since April 2023, while core PCE rose 3.4%. Treasury yields moved lower, and the #dollar softened as markets trimmed expectations for an immediate #Fed hike.

[Chelton Wealth - Markets @Xs2Chelton]

US #Fed official John Williams reiterated that inflation remains too high and that it is imperative to return inflation sustainably to the Fed's 2% target.

[Chelton Wealth - Markets @Xs2Chelton]

14:30 CET USD Core PCE Price Index m/m exp. 0.3%
14:30 CET USD Final GDP Q1 q/q exp. 1.6%
14:30 CET USD Initial Jobless Claims exp. 225K

[Chelton Wealth - Markets @Xs2Chelton]

Markets eye today's US core #PCE and #GDP data for #Fed policy clues.

[Chelton Wealth - Markets @Xs2Chelton]

The #JPY's slide to four-decade lows boosts automaker 162 mark. #Commodities saw lower prices as #Oil, #Gold, #Silver and #BTC all fell in the latter part of the session, stoking intervention concerns around those sessions. $USDJPY $XAUUSD

[Chelton Wealth - Markets @Xs2Chelton]

The #USD traded near a 13-month high amid easing tensions in the Middle East, even as markets still price in further #Fed rate hikes. Asian #currencies recovered losses, though the Hong Kong dollar #HKD weakened toward the lower end of its band amid intensifying carry trades.

[Chelton Wealth - Markets @Xs2Chelton]

13:00 CET USD MBA Mortgage Applications
16:00 CET USD New Home Sales, exp. 640k

[Chelton Wealth - Markets @Xs2Chelton]

US private-sector #PMIs hit multi-year highs even as firms trimmed workforces; Treasury yields and the dollar advanced on renewed #Fed-hike bets, while #oil slipped as more tankers passed through the Strait of Hormuz.