Societe Generale in its early Friday economic news summary pointed out:
The US dollar (USD) is in breakout territory after DXY scales 101.00. Brent consolidates above 200dma (US$78.6/barrel). United States Vice President JD Vance postpones planned trip to Switzerland for U.S.-Iran peace talks, next phase of agreement to proceed through separate technical-level tracks on multiple issues.
Manchester Mayor Andy Burnham thrashes opposition in Makerfield parliamentary by-election, paving the way for a leadership contest against British Prime Minister Keir Starmer. Burnham's Labour got 55% of the vote, Reform 35%, Restore 7%, Conservatives 2%. 10-year Gilt +5bps to 4.81%. GBP/USD offered below 1.32, support 1.3065/1.3000. EUR/GBP 200dma at 0.8702.
Japan's consumer price index edges up to 1.5% year over year in May from 1.4% in April, core excluding fresh food & energy eases slightly to 1.8%. Finance Minister Satsuki Katayama warns of decisive foreign exchange action as USD/JPY nears the July 2024 high of 161.95.
Day ahead: U.S. markets closed for Juneteenth. European Central Bank's Philip Lane, Jose Luis Escriva and Piero Cipollone. Canada's retail sales.
S&P futures-0.5%, EUR 10-year IRS unchanged at 2.974%, Gold -2.1% at US$4,134/oz.