After playing minimums in new falls of several weeks, the US dollar (USD) managed to recover the composure and move significantly on change Tuesday. However, recovery did not compensate for concerns about the impact of Trump tariffs on the US economy and global trade.
This is what you have to observe on Wednesday, June 4:
The American dollar index (DXY) bounced from a minimum of six weeks in the neighborhood of 98.50 on Tuesday, finally recovering the barrier of 99.00 and beyond in the middle of marginal losses in the yields of the US MBA mortgage, the EIA weekly report on US crude oil supplies, and the beige book of the Fed. In addition, Bostic and Cook of the Fed are expected to speak.
The EUR/USD could not maintain a previous movement towards maximum of several weeks above 1,1450, going back to the region below 1,1400 as the session progressed. Once again, the 1,1400 barrier and beyond in response to the intense mass sale of the US dollar. The Final HCB PMI in Germany and in the euro area is scheduled.
The GBP/USD was subjected to new sales pressures, fading part of the marked profits on Monday and briefly drilling the 1,3500 support. The Global S&P final S&P services will only be published on the other side of the channel.
The renewed weakness affected the Japanese Yen, motivating the USD/JPY to operate with marked profits above the 143.00 barrier. Jibun Bank’s final services PMI is the next thing on the agenda.
The Aud/USD hesitated just before the key resistance at 0.6500 in the middle of the strong rebound of the dollar. The AI ​​Group survey will be published, together with the Global S&P final S&P Services PMI and the GDP growth rate of the first quarter.
WTI prices joined Monday’s profits near the level of $ 64.00 while operators continued to evaluate the recent Opec+ meeting and the possible impacts of US tariffs, while geopolitical concerns joined the combination.
The rebound in the US dollar challenged the recent progress in gold prices, causing an abrupt movement towards the 330 $ area per Troy ounce. Silver prices lost part of the strong progress on Monday, reviewing the area of ​​34.00 per ounce.
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.
