#OPINIONLEADER# #USDollarIndex#
ByScott Andrews
USD index 04 06 2021
Last night a strong move higher saw the US dollar break above recent resistance at 90.44 with The IHS Markit Final Services PMI data coming in at 70.4, Forecast: 70.1, Previous: 70.1 yesterday indicated a slight upward revision in the rate of expansion of the services sector in May. ISM Services PMI data actual: 64.0, Forecast: 63.0, Previous: 62.7 was released yesterday indicated an increase in the rate of expansion of the services sector in May.
Key points to pay attention to today:
- Federal Reserve Chairman Powell will be speaking later at 19:00 (GMT+8). During this time, there may be volatility in USD.
- The U.S. jobs report will be released later at 2030 (GMT+8).
- Average Hourly Earnings m/m (Forecast: 0.2%, Previous: 0.7%)
- Non-Farm Employment Change (Forecast: 645K, Previous: 266K)
- Unemployment Rate (Forecast: 5.9%, Previous: 6.1%)
These economic announcements if exceed expectations should see the US dollar move higher as price holds above 90.44.
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