The Eurodollar rebounded from recent lows to a two-week high after Eurozone Employment Change data came out better than expected. However, investors remain cautious as ECB policymakers signaled that further monetary easing is still on the table.
The British pound rose to a five-week high against the dollar after UK GDP data came out better than expected, while expectations for a new interest rate cut in the USA have recently increased.
The USD/JPY finished lower in a volatile week after GDP data released in Japan showed the economy expanded more than expected in the second quarter, reinforcing expectations that the BoJ can stay on a cautious path toward policy normalization.
Gold initially rose on softer U.S. consumer inflation data, but reversed course, ending the week lower as hotter wholesale inflation revived concerns, lifted Treasury yields up and reduced expectations for aggressive Fed rate cuts.
U.S. stocks hit fresh all-time highs after softer-than-expected inflation data. The three main indexes - USA100, USA500, and USA30 - were lifted by expectations of a lower interest rate environment and strong Q2 earnings.
Crude oil prices fell over the week, as hopes of potential de-escalation in the Russia-Ukraine conflict eased supply concerns. Additional pressure came from a U.S. inventory build and cautious demand signals from China.