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.  

“You may have to fight a battle more than once to win it.” 
Margret Thatcher
  • FX Rates
    June 9, 2021

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.


  • USD

    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.

    GBP
    The 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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Kathryn Garvey
WRITTEN BY
Kathryn Garvey

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