USD Still Losing Direction, What Will Happen In The New York Session? - Kakiforex.com - Financial Market Media No. 1 in the World USD Still Losing Direction, What Will Happen In The New York Session? USD Still Losing Direction, What Will Happen In The New York Session?
InstaForex

June 4, 2021

USD Still Losing Direction, What Will Happen In The New York Session?

 The US dollar sought support to rise higher in the European session as the focus is now directed to the publication of the ISM survey services PMI data and the ADP private employment report tonight.


Against most major currencies, the dollar index traded around 90.00, down slightly from the gains recorded in the Asian session.


The publication of the ISM survey service data, the ADP employment report and the U.S. unemployment claim tonight, will serve as a clue to the NFP employment data that will be published on Friday.



Meanwhile, the pound traded steady against the US dollar, as investors awaited clear indications on whether an increase in cases of the Covid-19 variant from India would lead to a delay in the reopening of the UK economy wider on June 21st.


UK Prime Minister Boris Johnson has previously said that he remains adamant to completely remove the coronavirus ban, but will be wary of the spread of cases of a variant known as Delta in the country.


Meanwhile, the Office for National Statistics (ONS) reports that the UK job market is increasingly showing recovery. The business sector also reportedly increased to 87%, the highest since June last year.


Moreover, the movement of the euro remained limited following the rise of the US dollar, with it trading 0.2% lower around the $ 1.2180 price at the beginning of the European session.