Here is what you need to know on Thursday, June 6: Following Wednesday's choppy action in foreign exchange markets, investors gear up for key events that could ramp up the volatility.
Here is what you need to know on Thursday, June 6: Following Wednesday's choppy action in foreign exchange markets, investors gear up for key events that could ramp up the volatility. The European Central bank will announce monetary policy decisions on Thursday and the US economic calendar will feature weekly Initial Jobless Claims and Unit Labor Costs data for the first quarter ahead of Friday's May jobs report. The upbeat ISM Services PMI data for May, which came in at 53.
Ahead of the ECB event, Eurostat will publish Retail Sales data for April. Earlier in the day, Germany's Destatis reported that Factory Orders declined by 0.2% on a monthly basis in April following the 0.8% contraction recorded in March. Ahead of the key ECB event, EUR/USD fluctuates in a narrow channel above 1.0850.
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