- Foreign currency market indicators had pointed to inflows, most likely owing to passive funds purchasing bonds, but many market players said inflows were lower than expected. Traders estimated inflows of up to $2 billion spread over Thursday and Friday.
- India’s equity benchmarks, the Sensex and the Nifty 50, ended the first half of the current calendar year on a positive note. The Nifty 50 rose 10.5%, while the Sensex gained 9.4% in the first six months of 2024, hitting record highs of 24,174 and 79,671.58, respectively.
- The US Personal Consumption Expenditures (PCE) Price Index increased 2.6% YoY in May, compared to 2.7% in April. This figure came in line with the market expectations. The core PCE inflation rose 2.6% YoY in May from 2.8% in April, which is in line with the estimation.
- San Francisco Fed President Mary Daly said on Friday that monetary policy is working, but it’s too early to tell when it will be appropriate to cut the interest rate. Daly further stated, "If inflation stays sticky or comes down slowly, rates would need to be higher for longer.”
- The US ISM Purchasing Managers Index (PMI) is estimated to improve to 49.0 in June from 48.7 in May.
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