DailyFX Round Table: Tracking FX Market Behavior Ahead of RBA & ECB
- Outlook heading into June trade with RBA & ECB on tap
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Hosted by Currency Strategists Michael Boutros, Paul Robinson & David Song, this week’s conversation revolves around the lackluster U.S. Non-Farm Payrolls release along with a preview of the upcoming central bank rate decisions from the RBA & ECB.
-The USD is under pressure with the DXY trading at fresh yearly lows after a weak employment print with support seen just lower. Despite the softerreport, Fed Fund Futures are still showinga greater than 80% probability for June rate-hike.
-ECB to release updated forecasts at the June 8thinterest rate decision. EURUSD continues to stretch higher but is vulnerable for a near-term pullback.
-RBA to endorse wait-and-see approach and the keep official cash rate at a record-low of 1.50%. A review of the Aussie crosses casts a mixed outlook heading into the start of the month.
Key Data Releases Next Week
Enjoy today’s webinar? Join Michael, Paul & David in their weekly strategy webinars.
Michael Boutros – Mondays at 8:30ET
Paul Robinson – Tuesdays 5am ET
David Song – Wednesdays at 12:30ET
---Written by Michael Boutros, Currency Strategist, Paul Robinson, Market Analyst, and David Song, Currency Analyst with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.