Is This An Opportunity For The USD To Rise Again? - Kakiforex.com - Financial Market Media No. 1 in the World Is This An Opportunity For The USD To Rise Again? Is This An Opportunity For The USD To Rise Again?
InstaForex

June 16, 2021

Is This An Opportunity For The USD To Rise Again?

 Market movements moved calmly ahead of the release of US retail sales data tonight, with the US dollar trading steady against most major currencies.


The 10 -year U.S. treasury yield fell back below the 1.50%level, reflecting investor caution ahead of the publication of retail sales readings.


The market expects a decline in key sales, but shows in core measures that show modest changes following the weakness exhibited previously.


Following developments in the infrastructure stimulus plan by President Joe Biden, further bipartisan talks are expected to be held this week after little progress has been made so far.



The dollar index, which measures the strength of the greenback dollar against a basket of major currencies, traded at 90.46.


Meanwhile, the pound failed to sustain its gains following encouraging readings of UK employment data.


The number of employees reportedly increased in May following reduced Covid-19 restrictions in the UK, with the business sector reopening. The unemployment rate also met expectations to decline to 4.7%.


Commodity -linked currencies traded weaker against the greenback, particularly the Aussie dollar which was weighed down by a report on the minutes of the Reserve Bank of Australia (RBA) meeting which said it was too early to discuss a reduction in bond purchases.