The US Dollar is Still Under Pressure

Yesterday's statistics continue to put pressure on the US currency. In May, the index of business activity in the non-manufacturing sector of the US from ISM decreased by 10.4% to 56.9. Market expectations were at the level of 57.0. In the first quarter, labor costs in the US increased by 2.2% compared with the previous value of 3.0%. At the same time, the probability of tightening the Fed's monetary policy in June remains at a high level (95.8%).

Today, the meeting of the Reserve Bank of Australia took place. The regulator, as expected, kept the key interest rate at the previous level of 1.50%.

In the Asian trading session, futures for oil and gold showed an ambiguous dynamics.

Market Indicators

Yesterday, the US stock indices slightly moved away from historical highs. SPY (SPDR S&P 500 ETF) finished the trading session at 243.99 USD (-0.07%).

At the moment, the 10-year US government bonds yield is showing negative dynamics. The indicator is at the level of 2.16%.

The dollar index (#DX) is being traded in the negative zone (-0.20%).

The news background is rather calm today. We recommend you to pay attention to the following reports:

  • – Number of open jobs in the JOLTS labor market at 17:00 (GMT+3:00);
  • – Ivey's business activity index in Canada at 17:00 (GMT+3:00).

by JustForex, 2017.06.06

We recommend 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.