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EBC Daily Snapshot Jun 3, 2024

EBC Forex Snapshot 3 Jun 2024 The dollar was broadly steady on Monday as traders wagered that US inflation may have stabilised enough for the Fed to cut rates later, while the Aussie pare earlier gains from factory growth across Asia. The greenback posted its first monthly decline of the year in May with markets pricing in 37 bps of cuts this year from the Fed. Focus will be on the ISM manufacturing survey later in the day. China's Caixin survey reported its factory index increased to 51.7 in May, a two-year high. Japan’s factory activity expanded for the first time in a year, and South Korea’s grew at the fastest pace in two years. EBC Fintech Development Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Forex Trading Platform or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-06-03 09:46:36 (GMT)

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