Investors Now In Wait And See Mode? - Kakiforex.com - Financial Market Media No. 1 in the World Investors Now In Wait And See Mode? Investors Now In Wait And See Mode?
InstaForex

June 9, 2021

Investors Now In Wait And See Mode?

 The slow movement of the currency graced the market as investors awaited the release of US inflation data this week.


The strengthening displayed by the dollar index on Tuesday, finally stagnated and continued to trade flat against most major currencies throughout the session.


The dollar index, which measures the strength of the greenback against most major currencies, traded around 90.05 during the Asian session.


U.S. jobs data on Friday, showed a weaker -than -expected reading, with a rise of 559,000 in May, thus disappointing the market.



The data helped lower U.S. bond yields near recent lows, in line with the U.S. dollar, and investors are now waiting for consumer price data on Thursday to get new leads.


Investors are now expecting the Federal Reserve (Fed) to reduce its bond purchases by the end of the year, and the decline will actually begin early next year.


While awaiting the release of inflation data, tonight's Central Bank of Canada (BOC) policy meeting will also be of interest to investors.


The Canadian dollar traded 0.3% lower around 1.2115 against the U.S. dollar, slightly down from a six -year high it reached last week.


Most major currencies traded virtually unchanged, with the pound continuing to trade around the price of 1,41500, while the euro also traded around the same price level.