The US dollar (USD) faced a growing selling pressure at a fairly negative beginning of the new negotiation week, going back to a minimum of several weeks amid the resurgence of commercial concerns and nervousness about the health of the US economy.
This is what you have to observe on Tuesday, June 3:
The US dollar index (DXY) backed the region below 99.00 to reach new minimum of seven weeks amid marginal profits in US yields along the curve and despite a new risk aversion. The Jolts job offers report will be published followed by factory orders. In addition, Logan and Goolsbee of the Fed are expected to speak.
The EUR/USD once again recovered the 1,1400 barrier and well further in response to the intense mass sale of the US dollar. The preliminary inflation rate in the euro zone will be the center of attention in the domestic calendar, followed by the unemployment rate throughout the block.
The GBP/USD rose to four -day maximums, reviewing the 1,3560 area after greater weakness around the dollar. In the United Kingdom, the PMI of final S&P services will be published on June 4.
The additional appreciation of the Japanese Yen led the USD/JPY to go back to a minimum of several days and to test the middle zone of 142.00 on Monday. The next in Japan will be the PMIS of Final Services of Jibun Bank on June 4.
The Aud/USD bounced sharply and stayed just a few pips from the key barrier in 0.6500, reaching new five days. The RBA will publish its May meeting minutes, together with the business inventories and the results of the current trimester account.
The WTI prices jumped to new two -week maximums near the 64.00 $ brand after the news that the Opec+ kept production increases, raising its production in the expected 411 Kbpd in July.
Geopolitics and commercial uncertainty gave additional wings to gold, sending precious metal to new four -week peaks near the 380 $ brand per Troy ounce. Silver prices shot well above the 34.00 brand per ounce for the first time since October 2024.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
