The dollar index is down -0.08% due to lower T-note yields and progress in Ukraine peace talks boosting EUR/USD. US housing starts rose unexpectedly but building permits fell to a 5-year low. S&P affirms US debt ratings. Markets await Trump-EU meeting on Russia-Ukraine conflict implications. Inflation outlook adjusts following Thursday’s PPI report, affecting rate cut expectations. Federal funds futures show odds of -25 bp rate cut at 84% for September FOMC meeting and 53% for October. EUR/USD is up on peace talk progress. Swaps price in 6% chance of ECB rate cut. USD/JPY down as JGB yields rise, T-note yields fall, yen gains limited by US tariff concern. Precious metal prices mixed with gold up slightly and silver down. Metals supported by dollar weakness and lower yields, but safe-haven demand reduced due to peace talk progress and lower rate cut expectations. Silver prices turn lower on demand concerns after building permits data.

Read more at Yahoo Finance: Signs of Peace Progress in Ukraine Boosts the Euro and Weighs on the Dollar