It looks like we’re going to start off the month of June with a couple of monster reports out of the US: Core PCE and US Jobs Data. We see US jobs data the first Friday of every month. This is the one report that can cause excessive volatility, enough to create massive slippage on open orders.
Throw in the Core PCE data (the preferred measure of inflation by the Fed), and we could possibly see a lot of whipsaw action if the data is mixed.
So, no trades for now. We will wait for these reports to be released at 8:30 am EDT before we run analysis as the jobs data and inflation data should set the tone for the US Dollar in June. Stay tuned for updates after the reports!