Dollar eases slightly ahead of Thursday's inflation report
Markets are quiet in cautious trading ahead of two key events tomorrow: US Inflation and ECB policy decision. Markets will watch to see if inflation is higher than forecast providing impetus for the Fed to begin cutting asset purchases. The ECB meeting is expected to keep rates the same.
June 9, 2021
EUR/USD 1.22 GBP/USD 1.4140 USD/CAD 1.2077 AUD/USD 0.7750 USD/JPY 109.35 USD/CNH 6.3861 USD/ILS 3.2414 USD/MXN 19.6431 USD/CHF 0.8944 USD/INR 72.9775 USD/BRL 5.0396 USD/SGD 1.3232 USD/DKK 6.0954 USD/SEK 8.2474 USD/NOK 8.2481
Dollar eased slightly today versus all G-10 peers ahead of tomorrow’s inflation data where expectations indicate that price pressures will remain high through the summer. Wall Street remains lethargic and also awaits tomorrow’s inflation report.GBPThe pound edged higher today shaking off post-Brexit trade issues as officials meet today in London over trade agreements. BoE governor Andy Haldene commented that the UK economy is going “gangbusters”.EUR
The euro rose slightly with gains capped by a drop in bond yields ahead of tomorrow’s ECB meeting. The US and EU are expected to agree to end existing trade battles and taxes levied by the Trump Administration in next week’s meeting between President Biden and EU leaders.CAD
The Canadian dollar outperformed versus the USD before a rate decision out later today and ahead of US data tomorrow. BoC is expected to hold rates steady.ASIA/PACIFIC
USD/JPY is slightly lower and range-bound ahead of key data out tomorrow.
In China, factory-gate inflation in May rose 9% compared to a year earlier and to the highest level since 2008.
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