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EBC Daily Snapshot Jun 6, 2024

EBC Forex Snapshot 6 Jun 2024 The dollar eased on renewed bets of a Fed easing cycle expected this year on Thursday. Markets have priced in nearly 50 bps rate cuts this year, with the first expected to come in September. Data showed the US services sector switched back into growth mode in May after a short-lived contraction the month before, though details of the survey pointed to employment remaining in contraction territory. The yen edged down though BOJ turned more hawkish. Governor Kazuo Ueda said it would be appropriate to reduce the central bank's bond buying as it moves toward an exit from massive monetary stimulus. 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:

2024-06-06 08:57:42 (GMT)

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