The EUR/USD pair edges lower to near 1.1415 during the early Asian session on Tuesday. The Euro (EUR) weakens against the US Dollar (USD) amid rising bets for further rate cuts from the European Central Bank (ECB) in June.
Stocks came in wobbly, and went up and down in their usual willful way. Gold and silver sustained an early smackdown, but in the end gained some ground.
The US Dollar (USD) weakens slightly on Monday as markets kick off a busy week, overshadowed by skepticism surrounding United States (US) trade policy.
US markets closed higher on Friday, led by AI-related megacaps. Economic data showed weak consumer sentiment. Asian markets also rose despite trade uncertainty.
Markets will be watching the result of a closely contested Federal election in Canada today, with the governing Liberal Party narrowly ahead in final opinion polls.
For nearly eight decades the U.S. dollar has worn the crown of global commerce - pricing oil, anchoring central-bank reserves, and underwriting America’s unrivaled borrowing binge.
A dramatic confrontation between the White House and the Federal Reserve has been put off – for now. Come Tuesday, Trump said he has “no intention” of firing Powell before his term ends.
The US dollar initially fell against the Japanese yen during the week, but it eventually found enough support near the JPY140 level to turn things around and bounce quite significantly.
