Man, it’s funny how the dollar just can’t catch a break lately, right? I mean, it’s like you wake up one day and — bam! — back to those darn multi-week slumps. Starts off a seemingly ordinary week, then trade worries and whispers about the U.S. economy’s health just drag it down. Anyway — no, wait — speaking of Tuesday, June 3, what’s buzzing?
So, the US Dollar Index, or DXY if you’re into abbreviations, dipped below the 99.00 line, scraping those gnarly seven-week lows. Even though U.S. yields were kinda nudging up a bit. Strange, right? And, oh! There’s some job numbers coming out — the JOLTs Job Openings — sounds thrilling. Plus, Factory Orders and some chat from Fed folks like Logan and Goolsbee.
Switching gears to Europe! The euro, pesky thing, hopped over 1.1400 again. It was like, “Hey USD, see ya!” Inflation in the euro area is up next, and then there’s that unemployment rate thing. Fun times?
Meanwhile, across the channel, the GBP climbed to new four-day highs. Dabbling near 1.3560, who would’ve thought? They’ve got the S&P Global Services PMI coming up too, right on June 4. I’m curious if it’ll shake things up.
Oh, and Japan’s yen! It’s edging USD/JPY down to those mid-142.00s. It’s probably just one of those Monday things. They’ve got the Jibun Bank Services PMIs lined up on June 4, so I guess we’ll see if there’s more to it.
Now, off to Australia! The AUD bounced back, nearly touching 0.6500. And what timing! The RBA’s got its Minutes from May ready to drop, along with Business Inventories and Q1 Current Account.
Oil’s doing its own dance. WTI surged to two-week highs, flirting with $64.00 after OPEC+ essentially said, “More of the same!” with production. Expected? Sure, but still interesting.
And then there’s gold. Just floating upwards amidst all this geopolitical and trade drama. Tops out at a shiny $3,380 per ounce. Silver too! Shooting past $34.00 — a feat unseen since October 2024. Why can’t I remember anything else that happened in October 2024? Oh well.
So yeah, it’s a whirlwind, and honestly, who can keep track of it all?
