Fed rate cut hopes boost US stocks, mixed economic data, Euro and Yen under pressure

From Investing.com: 2024-06-28 02:12:00

Global markets experienced a mixed day due to economic and corporate news. European stocks were slightly lower, with the German market outperforming. Oil prices broke through resistance at $82pb, signaling a positive trend. US GDP grew by 1.4% in Q1, boosting the reflation trade. An increase in the US trade deficit and jobless claims hinted at economic slowdown. Fed rate cut hopes rose, leading to gains in treasuries. The upcoming French election could impact the euro – a victory for Le Pen could lead to a weaker currency. The USD/JPY pair remains volatile above the 161 level.



Read more at Investing.com: Fed Rate Cut Hopes Lift US Stocks Amid Mixed Data; Euro, Yen Under Pressure