The EUR/JPY cross trades on a negative note around 184.95 during the early European session on Thursday. Eurozone inflation fell more than expected in June, easing pressure on the European Central Bank (ECB) to raise rates at its next meeting on July 23.
XAG/USD gains ground for the third consecutive day, trading around $60.20 per troy ounce during the Asian hours on Thursday. Silver prices find support following a less hawkish tone than expected from Federal Reserve (Fed) Chairman Kevin Warsh at Wednesday's ECB Forum on Central Banking.
West Texas Intermediate (WTI) oil price loses ground for the third successive day, trading around $67.80 per barrel during the Asian hours on Thursday. The global energy market experiences a sharp downturn, with crude oil benchmarks sliding significantly as supply anxieties ease.
Gold (XAU/USD) extends losses for the fourth consecutive day on Wednesday, hitting session lows at $3,960, with the year-to-date lows at $3,945 within a short distance.
Eurozone’s preliminary Harmonized Index of Consumer Prices (HICP) data for June arrives at 2.8% Year-on-Year (YoY), lower than estimates of 3% and the previous reading of 3.2%. On a monthly basis, the inflation data declined by 0.1% after rising at a similar pace in May.
The S&P 500 finished Q2 2026 with its strongest quarterly performance since 2020 after a late surge driven by institutional window dressing and easing US-Iran tensions. However, the rally now faces a critical test as the US Dollar Index breaks to a 13-month high following the June FOMC meeting. Investors are closely watching Fed Chair Kevin Warsh's speech and this week's US jobs report, with further dollar strength potentially triggering a short-term bearish reversal in US equities.
Silver (XAG/USD) is trading lower on Wednesday, with the US Dollar buoyed by strong US macroeconomic data and higher US Treasury yields.
Here is what you need to know on Wednesday, July 1:
The Euro (EUR) remains practically flat near 11-month lows against the British Pound (GBP) on Wednesday.
The USD/JPY pair trades 0.1% higher to near 162.73 during the European trading session on Wednesday. The pair reflects strength as surging United States (US) Treasury Yields have strengthened the US Dollar (USD).