Meanwhile, traders fully anticipate a 25 bps rate reduction by the ECB on Thursday. Here is what you need to know on Thursday, June 6: The USD Index maintained its bullish stance in place and retested the 200-day SMA in the 104.40 area. On June 6, Balance of Trade results are due seconded by the usual weekly Initial Jobless Claims. Further gains in the US Dollar kept the EUR/USD’s price action subdued ahead of the ECB gathering.
USD/JPY left behind two sessions in a row of losses and sparked a marked rebound past the 156.00 barrier. The weekly Foreign Bond Investment figures are due on June 6 seconded by the speech by BoJ’s Nakamura. AUD/USD trimmed earlier losses, although it ended the session slightly on the defensive near 0.6640. On June 6, the Balance of Trade comes first ahead of Home Loans and Investment Lending for Homes.