Here’s what you need to know on Thursday, June 11th.
The US Dollar Index (DXY) has been hovering above 100.00 as inflation figures from May indicate ongoing pressure on prices in the US. The Composite Consumer Price Index (CPI) increased by 4.2% year-on-year, up from 3.8%, and saw a monthly rise of 0.5%. These results support the idea that the Federal Reserve may maintain high interest rates for a longer time, even considering some weaker core inflation readings.
USD price today
The table below presents the changes in the value of the US dollar (USD) against major currencies today, with the US dollar showing notable strength against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | australian dollar | new zealand dollar | swiss franc | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | 0.09% | 0.10% | -0.00% | 0.45% | 0.30% | 0.23% | |
| EUR | -0.03% | 0.04% | 0.06% | -0.09% | 0.35% | 0.27% | 0.20% | |
| GBP | -0.09% | -0.04% | 0.02% | -0.10% | 0.34% | 0.24% | 0.16% | |
| JPY | -0.10% | -0.06% | -0.02% | -0.13% | 0.31% | 0.21% | 0.10% | |
| CAD | 0.00% | 0.09% | 0.10% | 0.13% | 0.45% | 0.34% | 0.24% | |
| australian dollar | -0.45% | -0.35% | -0.34% | -0.31% | -0.45% | -0.11% | -0.20% | |
| new zealand dollar | -0.30% | -0.27% | -0.24% | -0.21% | -0.34% | 0.11% | -0.08% | |
| swiss franc | -0.23% | -0.20% | -0.16% | -0.10% | -0.24% | 0.20% | 0.08% |
The heat map portrays the percentage shift between major currencies. The base currency is on the left while the quote currency is above. For instance, selecting USD from the left and moving horizontally to JPY reveals the percentage change in USD/JPY.
EUR/USD is sliding towards 1.1540 due to pressures on the euro. Traders are closely watching the European Central Bank’s policy announcement today.
GBP/USD is dipping toward 1.3370, as stronger USD dynamics are counteracting solid UK economic data. The focus remains on global interest rates and market sentiment.
As the yield difference between Japan and the US widens with US bond yields rising, the USD/JPY pair has moved notably into intervention territory above 160.50.
AUD/USD is approaching the 0.7000 mark after the National Australia Bank indicated an interest rate cut by the Reserve Bank of Australia is possible, although timing is still up in the air. US inflation data and a rebound in the dollar’s safe-haven appeal are increasing pressure on Australia.
West Texas Intermediate (WTI) crude oil jumped 3% to $90.80 per barrel as supply concerns were highlighted amidst ongoing negotiations between the US and the Iranian government.
Gold prices are around $4,070, losing some recent gains as rising U.S. Treasury yields and a stronger dollar diminish demand for this non-yielding asset.
Here’s what’s next on the docket:
Thursday, June 11th:
- Australian inflation expectations (June)
- UK monthly GDP (April)
- UK industrial production (April)
- UK manufacturing production (April)
- UK trade balance (April)
- German Consumer Price Index (May)
- ECB interest rate decision
- US PPI (May)
- US Core PPI (May)
- Number of new unemployment insurance claims in the US
Friday, June 12th:
- Japan’s industrial production (April)
- UK inflation expectations (2nd quarter)
- Michigan Consumer Sentiment (June)
- Inflation expectations in Michigan, U.S. (June)
