The US dollar was trying to recover from the post-NFP sell-off, with the dollar index trading 0.2% stronger today.

Earlier in the day, data showed that Japan’s GDP contracted 1% quarter-on-quarter and 3.9% year-on-year for the first quarter of 2021. The yen slid, pushing the USDJPY pair above 109.50.

Later today, the EURUSD pair might be volatile after the latest ZEW surveys. The economic sentiment in the eurozone is expected to fall to 77 in June, down from 84 in May. Additionally, the EU employment change and GDP numbers will be released.

There are no major macra data releases during the US session today.

Elsewhere, oil failed to defend the 70 USD threshold and was trading 1% weaker today, last seen at around 68.50 USD.

Somewhat stronger greenback undermined precious metals today. Silver was down 0.8%, while gold traded half a percent lower. 

Source: https://www.axiory.com/market-news/greenback-ticks-higher-on-tuesday

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Peter Bukov

Peter comes from a background in corporate finance which began in 2013 when he completed the Corporate Finance Program at the University of Economics in Bratislava. He’s been actively involved in the market sector since 2008 and got his hands-on experience in trading in 2011. His experience in finance and trading continues not only as a market analyst at Axiory Intelligence but also through his studies to obtain a degree in Capital Markets. The study is in line with MIFID II regulations and is under the supervision of the European Regulator ESMA, which strongly emphasizes ethics and morale in investing and working with a client.

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