Here is what you need to know on Wednesday, June 12: The US Dollar (USD) holds steady early Wednesday as investors gear up for key macroeconomic events that could significantly impact the currency's valuation.
Here is what you need to know on Wednesday, June 12: The US Dollar holds steady early Wednesday as investors gear up for key macroeconomic events that could significantly impact the currency's valuation. The US Bureau of Labor Statistic will release the Consumer Price Index data for May in the early American session. Later in the day, the Federal Reserve will announce monetary policy decisions and publish the revised Summary of Economic Projections , the so-called dot plot.
Investors will pay close attention to macroeconomic projections, especially the interest rate. US CPI set to steady in May ahead of Federal Reserve decision. The data from China showed earlier in the day that the CPI declined 0.1% on a monthly basis, while the annual CPI rose 0.3%. After closing the day virtually unchanged on Tuesday, AUD/USD edged higher in the Asian session on Wednesday and was last seen trading slightly above 0.6600.
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