Web Trader MT5 
US Indices Fluctuate as Producer Prices Show No Change in June
Japan’s exports fell 0.5% year over year in June, following May’s 1.7% drop, marking two consecutive months of decline. This contradicted economists’ expectations of a 0.5% increase and comes amid stalled U.S. trade talks. Exports to China dropped 4.7%, while U.S.-bound shipments fell 11.4%, worsening from May’s 11% decline.
On Wednesday, President Trump confirmed the 25% tariff on Japanese imports, dismissing prospects of a broader deal.
U.S. stock futures edged lower Thursday morning after markets rallied when President Trump denied plans to fire Fed Chair Jerome Powell. Dow futures fell 0.15%, while S&P 500 and Nasdaq 100 futures dipped about 0.2%. Wednesday saw the S&P 500 gain 0.3%, Nasdaq add 0.2%, and Dow rise 0.5%.
Markets initially dropped after a White House official suggested Powell would be fired, with the Dow falling over 260 points. Stocks recovered after Trump downplayed these reports, saying he wasn’t planning on doing it, though not ruling it out entirely.
US Producer Price Index (PPI) in June showed no change, contrary to the expectations of 0.2% on monthly basis, indicating that the effects of tariffs have been minimal so far. Investors await US retails sales data today.
In the Forex market, the US dollar fell against major currencies during yesterday’s session after rumors about Trump stating he would fire Fed Chair Jerome Powell circulated. The dollar gave away these gains later in the session after Trump denied the comments.
EURUSD jumped more than 100 points reaching 1.1720. GBPUSD also spiked 100 points to 1.3485. While USDJPY dropped below 147.00 before recapturing most of these losses on Thursday’s morning. Gold prices also spiked to $3,377 during the same time. The precious metal is now trading at $3,330
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