The US Dollar collapsed to more than three-year lows on the back of increased inflows into the safe-haven universe, while investors continued to gauge simmering geopolitical effervescence, trade uncertainty and prospects of a couple of rate cuts by the Fed this year.
Here’s what to watch on Friday, June 13:
The US Dollar Index (DXY) breached below the 98.00 level for the first time since March 2022 amid the continuation of the strong sell-off, disappointing data and shrinking US yields. The advanced Michigan Consumer Sentiment takes centre stage at the end of the week.
EUR/USD advanced to multi-year highs north of the 1.1600 barrier, boosted by the increasing selling interest hurting the US Dollar. The final Inflation Rate in Germany is due, along with EMU’s Balance of Trade results and Industrial Production figures. In addition, the ECB’s Elderson is due to speak.
GBP/USD added to Wednesday’s uptick and clinched new highs around 1.3620, an area last visited in February 2022. The next key data releases across the Channel will be the Inflation Rate on June 18.
USD/JPY tumbled to weekly troughs and approached the 143.00 support following the solid demand for safer assets. Japanese Industrial Production, Capacity Utlization, and the Tertiary Industry Index will wrap up the weekly docket.
AUD/USD make a reversal and resumed its weekly reciovery past the key 0.6500 barrier following persistent weakness in the US Dollar. The Westpac Leading Index will be next on tap in the Australian calendar on June 18.
Prices of WTI gave away the early advance to new two-month highs in the boundaries of the $69.00 mark per barrel amid an escalation of geopolitical concerns in the Middle East and the weaker Greenback.
Prices of Gold rose further and retested the $3,400 region per troy ounce in response of the deterioration in the geopolitical scenario in combination with the lack of clarity on the trade front and the sharp retracement in the Greenback. Silver prices traded in a volatile fashion, eventually ending the day with humble losses just above the $36.00 mark per ounce.
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The US Dollar collapsed to more than three-year lows on the back of increased inflows into the safe-haven universe, while investors continued to gauge simmering geopolitical effervescence, trade uncertainty and prospects of a couple of rate cuts by the Fed this year.
Here’s what to watch on Friday, June 13:
The US Dollar Index (DXY) breached below the 98.00 level for the first time since March 2022 amid the continuation of the strong sell-off, disappointing data and shrinking US yields. The advanced Michigan Consumer Sentiment takes centre stage at the end of the week.
EUR/USD advanced to multi-year highs north of the 1.1600 barrier, boosted by the increasing selling interest hurting the US Dollar. The final Inflation Rate in Germany is due, along with EMU’s Balance of Trade results and Industrial Production figures. In addition, the ECB’s Elderson is due to speak.
GBP/USD added to Wednesday’s uptick and clinched new highs around 1.3620, an area last visited in February 2022. The next key data releases across the Channel will be the Inflation Rate on June 18.
USD/JPY tumbled to weekly troughs and approached the 143.00 support following the solid demand for safer assets. Japanese Industrial Production, Capacity Utlization, and the Tertiary Industry Index will wrap up the weekly docket.
AUD/USD make a reversal and resumed its weekly reciovery past the key 0.6500 barrier following persistent weakness in the US Dollar. The Westpac Leading Index will be next on tap in the Australian calendar on June 18.
Prices of WTI gave away the early advance to new two-month highs in the boundaries of the $69.00 mark per barrel amid an escalation of geopolitical concerns in the Middle East and the weaker Greenback.
Prices of Gold rose further and retested the $3,400 region per troy ounce in response of the deterioration in the geopolitical scenario in combination with the lack of clarity on the trade front and the sharp retracement in the Greenback. Silver prices traded in a volatile fashion, eventually ending the day with humble losses just above the $36.00 mark per ounce.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
