The post Markets’ attention gyrates around the BoJ, US data appeared on BitcoinEthereumNews.com.

The US Dollar managed to regain balance and reverse the post-CPI pullback on Thursday along with investors’ assessment of a potential one interest rate cut by the Fed at some point by year-end and declining US yields across the curve. The BoJ is expected to keep rates on hold. Here is what you need to know on Friday, June 14: The USD Index (DXY) regained its uptrend and reclaimed the area beyond the 105.00 barrier, despite US yields continuing to trend lower. On June 14, the preliminary Michigan Consumer Sentiment gauge is due, seconded by the speech by the Fed’s Goolsbee (Chicago). EUR/USD sharply reversed Wednesday’s bullish attempt and traded at shouting distance from monthly lows near 1.0720. The Balance of Trade results are expected in the euro zone on June 14, along with the speech by the ECB’s Lagarde. GBP/USD made a U-turn after three consecutive sessions of gains in response to the marked rebound in the Greenback. The UK calendar is empty on June 14. USD/JPY maintained cautious trade near the 157.00 region, up modestly for the day ahead of the key BoJ meeting. In fact, the BoJ’s interest rate decision takes centre stage on June 14, seconded by final Industrial Production, and the Tertiary Industry Index. AUD/USD came under pressure following gains in the US Dollar, partially fading Wednesday’s strong advance. The publication of Consumer Inflation Expectations will be unveiled o June 14 followed by the Consumer Confidence Index tracked by Westpac. WTI prices traded within a narrow range around the $78.00 mark per barrel, as traders digested recent US crude oil inventories report and inflation data. Gold corrected sharply lower after three sessions in a row of gains on the back of the strong dollar and expectations of just one interest rate cut by the Fed…

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Filed under: News - @ June 13, 2024 11:24 pm