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EUR: need for support

The Eurozone is to publish a lot of statistics, including the Sentix investor confidence index and the final figures for the purchasing managers index in the manufacturing and non-manufacturing sectors. Retail sales data and another GDP estimate for the first quarter will be released. An expected future hike in the interest rate by the ECB can support the EUR.

JPY: attention to spending

Japan will release the GDP data for the beginning of the year and the Eco Watchers Survey Index. In addition, an important report on household spending will be published, which will help assess what is happening with spending and incomes in the country. Meanwhile, the JPY rate is weakening and returning to depreciation.

AUD: there is a balance

The Reserve Bank of Australia will hold a meeting to decide on the interest rate. The indicator is expected to remain unchanged at 3.85% per annum, which is a neutral signal for the AUD.

USD: strong

Business activity statistics can bring pleasant surprises. In addition, consumer lending data will be presented. The USD remains strong, but the Fed’s signals can make the rate go down.

CAD: it entirely depends on the CB

The Bank of Canada will decide on the cost of lending at its next meeting. There is a chance that the interest rate will remain at the level of 4.5% per annum. This is neutral news for the CAD rate, but further reactions will depend on the regulator’s comments.

The post A Week in the Market: Dollar is Strong but it Entirely Depends on the Fed (5 June - 9 June) appeared first at R Blog - RoboForex.

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By: Anna Rostova
Title: A Week in the Market: Dollar is Strong but it Entirely Depends on the Fed (5 June - 9 June)
Sourced From: blog.roboforex.com/blog/2023/06/05/a-week-in-the-market-dollar-is-strong-but-it-entirely-depends-on-the-fed-5-june-9-june/
Published Date: Mon, 05 Jun 2023 13:27:30 +0000

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