What you need to know Thursday, June 3:
The dollar advanced during European hours, but cut most of its gains during the American session. The dollar moved along with yields on US government debt, reflecting US inflation expectations. Yields fell despite poor Wall Street performance.
The US indices repeated their behavior on Tuesday, advancing before the open but retreating before the close, the day was mixed near its opening levels.
The euro and sterling fell to lower lows for the week against the dollar, but ended the day unchanged. USD / CAD was down steadily, settling at 1.2030, but AUD / USD also ended the day flat around 0.7750.
Gold advanced and the pair settled at $ 1,908 a troy ounce. Crude oil prices maintained gains near their recent multi-month highs. The WTI ended the day at $ 68.60 a barrel.
Prime Minister Boris Johnson remains optimistic about the economy reopening, stating that the UK is on track to fully reopen on June 21.
Officials at the US Federal Reserve continued to pour cold water on inflation concerns. Philadelphia Fed Chairman Patrick Harker said he sees no signs that inflation is spiraling out of control, adding that he believes the time to act is not yet. He added that GDP could grow 7% in 2021 before moderating to 3% in 2022.
The focus now shifts to US employment data ahead of the nonfarm payroll report due out next Friday.
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