Select Language

Forex Today: The ECB is widely anticipated to lower its rates

Breaking news

Forex Today: The ECB is widely anticipated to lower its rates

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.05 03:55
Forex Today: The ECB is widely anticipated to lower its rates

update 2025.06.05 03:55

The Greenback resumed its downtrend and faded part of the previous day's advance on Wednesday, weighed down by trade concerns and disheartening data from the US docket.

Here's what to watch on Thursday, June 5:

The US Dollar Index (DXY) came under renewed selling interest, breaking below the 99.00 contention zone once again on Wednesday. The Balance of Trade results are due, along with Challenger Job Cuts, the final quarterly figures from Unit Labour Costs and Nonfarm Productivity, and the weekly Initial Jobless Claims. In addition, the Fed's Kugler and Harker are due to speak.

EUR/USD resumed its weekly uptrend, advancing past the 1.1400 barrier on the back of sustained Dollar weakness. The ECB meeting will be the salient event, seconded by Germany's Factory Orders and the HCOB Construction PMI. In the broader euro area, Producer Prices will be published along with the HCOB Construction PMI.

GBP/USD rose to multi-day highs around the 1.3580 zone on Wednesday, backed by the intense sell-off in the Greenback. The S&P Global Construction PMI is expected on the domestic docket.

Further appreciation of the Japanese Yen prompted USD/JPY to refocus on the downside once again, challenging the 143.00 zone. The key Average Cash Earnings are due alongside weekly readings of Foreign Bond Investment.

AUD/USD rapidly left behind Tuesday's daily pullback and retested once again its key resistance zone around 0.6500. The Balance of Trade results will be published in Oz.

Prices of WTI reversed two daily advances in a row on Wednesday, approaching the $62.00 mark per barrel following an unexpected increase in gasoline stockpiles and traders' assessment of the OPEC+ output hike.

Gold prices charted a decent rebound on Wednesday, approaching the $3,400 mark per troy ounce following the soft tone in the US Dollar and renewed trade effervescence. Silver prices followed suit, adding to Tuesday's pullback and partially fading Monday's strong advance.



Date

Created

 : 2025.06.05

Update

Last updated

 : 2025.06.05

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

EUR: Dovish forecasts, hawkish Lagarde - Commerzbank

As expected, the ECB lowered its interest rates by another 25 basis points to 2.0% yesterday. However, the exchange rate only really started to move during the press conference, Commerzbank's FX analyst Volkmar Baur notes.
New
update2025.06.06 20:03

US labor market: weaker, but not weak - Commerzbank

Today is that time again - Payroll Friday. The first Friday of the month when, as is traditional, the US labor market report is published. According to Bloomberg, the consensus expectation is that the US economy created 126,000 new jobs in May.
New
update2025.06.06 19:52

NZD/USD may not be able to break above 0.6080 - UOB Group

Risk remains on the upside, but with no clear increase in momentum, New Zealand Dollar (NZD) may not be able to break above 0.6080 against US Dollar (USD).
New
update2025.06.06 19:48

AUD/USD drifts below 0.6500 with the Dollar picking up ahead of the NFP report

The Australian Dollar extends losses below 0.6500 on Friday as traders trim their US Dollar short positions ahead of the US Nonfarm Payrolls report.
New
update2025.06.06 19:45

CHF: Switzerland returns to UST's Monitoring List - ING

Switzerland and Ireland were added to the US Treasury's monitoring list when it comes to FX practices, ING's FX analyst Chris Turner notes.
New
update2025.06.06 19:28

AUD/USD holds above 50-DMA - Société Générale

AUD/USD is showing signs of potential upside as it consolidates above key technical levels, with bullish momentum building if support at 0.6400 holds, Société Générale's FX analysts note.
New
update2025.06.06 19:25

Silver Price Forecast: XAG/USD extends rally above $36 on value-buying, US NFP in spotlight

Silver price (XAG/USD) refreshes over a decade high to near $36.20 on Friday. The white metal performs strongly as market experts quoted it a value buy, citing its secular underperformance in comparison with Gold.
New
update2025.06.06 19:21

RUB: Consensus has shifted towards rate cut - Commerzbank

The Central Bank of Russia's (CBR) had been expected to hold its key rate steady at today's meeting. This had been a majority view among analysts, including ourselves, until recently, but as of late, the consensus majority has shifted in favour of a 100bp rate cut today.
New
update2025.06.06 19:08

AUD/USD: To test 0.6540 before pulling back - UOB Group

Australian Dollar (AUD) could first test 0.6540 against US Dollar (USD) before the risk of a pullback increases. In the longer run, bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.06.06 18:59

BoJ said to consider smaller reductions to its bond buying - Bloomberg

Citing people with the Bank of Japan's (BoJ) thinking, Bloomberg reported on Friday that the central bank is "said to consider smaller reductions to its bond buying."
New
update2025.06.06 18:57

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel