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Another week, another chance to trade the dollar! What do you think are the themes that will dominate the Greenback’s trading?

I have a list for you to consider!

FOMC statement and presser (June 10, 6:00 pm GMT)

  • This is the Fed’s first meeting since U.S. states were locked down
  • No further policy changes are expected this week
  • Fed is seen continuing its aggressive bond purchases and lending activities
  • Fed will also publish its dot plot and economic projections
  • Powell will conduct a presser at 6:30 pm GMT

Closely watched data releases

  • CPI (June 10, 12:30 pm GMT) to improve from -0.8% to -0.1% in May
  • Core CPI also seen at -0.1% from -04% in April
  • PPI (June 11, 12:30 pm GMT) could rise from -1.3% to -0.1%
  • Core PPI expected to improve from -0.3% to -0.2%
  • Weekly initial jobless claims (June 11, 12:30 pm GMT) expected to reflect another 1.5M jobless this week
  • UoM consumer sentiment (June 12, 2:00 pm GMT) to rise from 72.3 to 75.0?

Technical snapshot

  • RSI considers the dollar “oversold” against the comdolls and the euro
  • It may soon enter “overbought” territory against the yen
USD Forex Pairs RSI from MarketMilk
USD Forex Pairs RSI from MarketMilk
  • The dollar is still on bearish trends against almost all of its counterparts
  • USD/JPY is still bullish on short and long-term SMAs on the daily time frame
USD Forex Pairs SMAs from MarketMilk
USD Forex Pairs SMAs from MarketMilk
  • The dollar saw the most volatility against the Aussie, Kiwi, euro, and pound in the last seven days
USD Forex Pairs Volatility from MarketMilk
USD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read USD’s price recap for June 1 – 5!