ECB Meeting Is in the Focus of Attention

The US dollar has continued to decline against a basket of currency majors despite optimistic economic data. The dollar index (#DX) has updated local lows and closed in the negative zone (-0.41%). Thus, the number of people employed in the nonfarm sector decreased by 2,760K, while experts expected a larger reduction by 9,000K. ISM non-manufacturing PMI counted to 45.4 in May instead of 44.0. The conflict between the US and China is still in the spotlight. America has suspended China’s flights to the United States since June 16 after Beijing refused to allow United Airlines and Delta Air Lines to resume flights to China from June.

Investors have taken a wait-and-see attitude before today's ECB meeting. It is expected that the regulator will keep the key marks of monetary policy at the same level. We recommend paying attention to the comments by representatives of the Central Bank. Yesterday, the Bank of Canada left the key interest rate unchanged at 0.25%.

The "black gold" prices have been declining. At the moment, futures for the WTI crude oil are testing the $36.55 mark per barrel.

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.33%), #DIA (+2.06%), #QQQ (+0.45%).

The 10-year US government bonds yield has been growing. At the moment, the indicator is at the level of 0.75-0.76%.

The news feed on 2020.06.04:
  • - UK construction PMI at 11:30 (GMT+3:00);
  • - ECB interest rate decision at 14:45 (GMT+3:00);
  • - Initial jobless claims in the US at 15:30 (GMT+3:00).

  • by JustForex, 2020.06.04

    We advise you to get acquainted with the daily forecasts for the major currency pairs.

    This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

    Open Account

Get Free Analytics

* required fields