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ForexLive European FX news wrap: Currencies muted, Wall Street eyes fresh record highs

US Core PCE is expected at 2.6% Y/Y but it won’t change anything for the Fed

US PCE and Canadian GDP data coming up next

Fed’s Kashkari: I continue to expect two rate cuts in 2025

US Bessent: I think we could have trade wrapped up by Labor Day

PBoC: Will enhance monetary policy adjustment strength

China reportedly seeks to tie French cognac deal with EV tariff talks

Crude oil consolidates at a key support as the market awaits new catalysts for direction

Eurozone June final consumer confidence -15.3 vs -15.3 prelim

Italy June consumer confidence 96.1 vs 97.0 expected

Major currencies not up to much to start the session

ECB’s Knot: The ECB may well need to keep rates on hold for some time