Consumers, tariffs and sentiment
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Overview
US consumer sentiment rebounded in June, marking the first increase in six months, according to University of Michigan data. The Consumer Sentiment In
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JPMorgan warns S&P 500 gains could slow due to US-China trade tensions and stagflation. Slow growth and rising inflation could set the backdrop for a stagflationary episode. JPMorgan flagged five headwinds for investors to monitor in the market.
EUR/USD halts its four-day winning streak, pulling back from 1.1631, the highest since October 2021, and currently trading around 1.1530 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) receives support as traders move toward improved safe-haven demand, sparked by rising tensions in the Middle East.
Former White House chief of staff Mick Mulvaney claims the Trump administration is “applauding” the new statistics showing the lower-than-expected consumer price index for May.
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Blame stubbornly high mortgage rates and lingering economic anxieties over Trump policies for US housing-market gridlock.