The Dow Jones Industrial Average (DJIA) pared early-week losses and rose about 200 points on Thursday. Equities were bolstered by a better-than-expected Producer Price Index (PPI) inflation print that showed upstream inflation effects are still cooling at a faster rate than initially expected.
The US Dollar (USD) is entering Thursday’s NA session with broad strength against all of the G10 currencies and is seeing notable gains vs. Japanese Yen (JPY), Swiss Franc (CHF), Canadian Dollar (CAD), and New Zealand Dollar (NZD), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Following a social media post from President Trump last night that a major trade deal would be announced at 16CET/10ET today, speculation is rife that it will be a US-UK agreement.