Gold Still Might be a Correction Upwards

6月11日

#market_pulse #currencies

😎Hello everyone! Here’s your essential market update for today:

📊Dollar firm before key inflation test; yen limps towards BOJ meeting

▫️ Euro (EUR): The euro hovered near a one-month peak against the dollar and pushed to a one-week high versus the yen. It slid to as low as $1.0733 on Monday after far-right gains in European Parliament elections prompted French President Macron to call a snap election.

▫️ U.S. Dollar (USD): The dollar index remained steady at 105.12 after reaching 105.39 on Monday, the highest since May 14. The U.S. currency was supported by higher Treasury yields following robust jobs data, which reduced bets for Fed rate cuts this year.

▫️ Pound Sterling (GBP): Sterling was steady at $1.27355 ahead of UK labor data expected to show a slowing decline in employment.

▫️ Japanese Yen (JPY): The dollar added 0.15% to stand at 157.275 yen, nearing its highest since June 3 at 157.335. The BOJ is expected to discuss reducing its monthly government bond purchases at its meeting on Friday.

▫️ Swiss Franc (CHF): The euro was flat against the Swiss franc, trading at $1.076825 after hitting a low of $1.0733 on Monday.

⌛️Key Events to Watch:

U.S. inflation data due on Wednesday
Federal Reserve policy meeting on Wednesday
Bank of Japan's monetary policy meeting on Thursday and Friday

👋 Stay tuned for more updates and happy trading!

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