Here is what you need to know on Thursday, June 4: The US Dollar (USD) gathered strength against its rivals midweek, supported by the upbeat macroeconomic data releases from the United States and a lack of progress in the United States (US) – Iran negotiations.
On Thursday, the European economic calendar will feature April Retail Sales data
In the second half of the day, weekly Initial Jobless Claims data from the US will be watched closely by market participants ahead of Friday’s critical Nonfarm Payrolls (NFP) report for May. US Dollar Price This week The data from the US showed on Thursday that employment in private sector rose by 122K in May. This reading followed the 105K increase reported in April and came in better than the market expectation of 117K.
Additionally, the Institute for Supply Management’s (ISM) Services Purchasing Managers’ Index (PMI) improved to 54.5 in May from 53.6, highlighting an ongoing expansion in the service sector’s business activity at an accelerating pace. The USD Index climbed to its highest level since early April above 99.50 following the strong US data before going into a consolidation phase near that level early Thursday. Meanwhile, US stock index futures trade mixed after Wall Street’s main indexes closed deep in negative territory on Wednesday.