Reported 7 months ago
Unified Futures provided, compiled by Huang Yanhong on June 11, 2024, at 4:10 pm. The rate cut by the ECB and Bank of Canada is expected to lead to a situation where the currencies of these two countries are prone to depreciation and difficulty in rising. The US Dollar Index is anticipated to continue its gradual rising trend against the backdrop of strong economic data in the US and an expanding interest rate differential with other currencies. Factors to watch this week include May's US CPI inflation data and the June interest rate decisions of the US and Japan, which are likely to increase volatility in currency futures this week. Last week, the Bank of Canada announced a rate cut, becoming the first G7 country to do so, resulting in depreciation of the Canadian dollar. The widening interest rate differential between the US and Canada could put pressure on the Canadian dollar, potentially leading to a gradual decline and supporting the performance of the US dollar.
Source: YAHOO