NEW YORK ( TheStreet ) -- The U.S. dollar was mostly weaker vs. the majors, up modestly only vs. AUD and CAD as the euro made another new high for the cycle near 1.2950. By ending the day at the highs, further euro gains look likely in Asia today.

The yen and Swiss franc were mostly firmer as risk appetite eased after more weak U.S. data reported (PPI, Empire manufacturing and Philly Fed surveys) on top of weak China data for June. Dollar losses look likely to continue near-term, while CAD and MXN are most at risk from weak U.S. growth. EM FX was mostly firmer, but we highlight risks for the weaker EM credits in our EMFX Weekly as risk appetite remains very choppy. Biggest gainers on the day vs. USD were CZK, EUR, RON, GBP, and HUF, while biggest losers vs. USD were ZAR, CAD, MXN, UAH, and CLP. Turkey central bank left rates steady at 7%, as expected.

U.S. equity markets ended mixed after earlier weakness, as DJIA, S&P and Nasdaq ended down 0.1%, up 0.3%, and flat, respectively. European markets were lower, with Euro Stoxx 50 down 1.3%. Asian equities are likely to open down today as Asian ADRs were lower during N. American trading Thursday. Nikkei futures point to a down Japan open, and the stronger yen should hurt Japan exporters.

U.S. bond market was mixed, as 2- and 10-year yields were flat and down 6 bp, respectively. European bond markets were mixed too, as 10-year yields in UK, France, and Germany were down 2 bp, flat, and flat, respectively. Greek 10-year yields rose 4 bp, Portugal fell 4 bp, Ireland rose 2 bp, Italy rose 1 bp, and Spain fell 11 bp. Spain outperformed after strong sale of EUR3 bln 15-year bonds, though Spain had to pay higher rates than the last auction in April.
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