After the USD Makes a ‘U-Turn’, Here’s What Investors Need to Know - Kakiforex.com - Financial Market Media No. 1 in the World After the USD Makes a ‘U-Turn’, Here’s What Investors Need to Know After the USD Makes a ‘U-Turn’, Here’s What Investors Need to Know
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June 3, 2021

After the USD Makes a ‘U-Turn’, Here’s What Investors Need to Know

 The greenback failed to maintain its gains over its main rivals after the decline recorded in the previous session was seen to continue until the Asian session.


US 10 -year bond yields returned below 1.59%, causing the US dollar to similarly depreciate.


At the time of writing, the dollar index is trading around 89.90 against a basket of major currencies.


Federal Reserve (Fed) officials, continue to work to allay market concerns about inflation. Most recently, Philadelphia Fed President Patrick Harker said he saw no signs of inflation getting out of control, and it was not yet time for the central bank to act.



In general, movements in the market during the Asian session were seen as calm without aggressive movements of major currencies amid the absence of a clear catalyst to stimulate currency movements.


The publication of ISM survey services data, ADP private employment reports and U.S. unemployment claims will be the next market focus tonight, which will serve as an indication of the NFP employment data to be published on Friday.


Meanwhile, the market in the Asian session was seen with the final reading of Australian retail sales meeting the initial forecast for a 1.1% increase in April.


Moreover, the euro and the pound returned to trade stable around the same price level after falling to their lowest level for the week against the US dollar in the previous session.


UK Prime Minister Boris Johnson remains determined to reopen the economy, confirming that the country’s coronavirus ban will be lifted in full on June 21st.