Temporary Pause for the Dollar After a Four-Day Winning Streak: The dollar index fell to 104.8 on Friday, pausing after four consecutive sessions of gains,
as traders continue to assess the timing of the Federal Reserve’s first interest rate cut.

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Key Events and Economic Data Expected This Week
Oil Rebounds

Temporary Pause for the Dollar After a Four-Day Winning Streak

Key Events and Economic Data Expected This Week

In the United States, investors will closely watch the Personal Consumption Expenditures (PCE) Price Index,
personal income and spending, and speeches from several Federal Reserve officials.
Additionally, attention will be paid to the second estimate of Q1 GDP growth, corporate earnings,
CB Consumer Confidence and pending home sales.
Globally, the focus will be on inflation rates in Germany and the Eurozone.
GDP growth rates for Switzerland and Canada will be released, along with unemployment rates in the Eurozone.
Key indicators to watch include Germany’s GfK Consumer Climate Index and China’s NBS Manufacturing and Services PMIs.
Finally, in Japan, the focus will be on Governor Ueda’s opening remarks at a Bank of Japan-hosted conference,
along with consumer confidence data, Japan’s CPI, retail sales, unemployment rate, and industrial production.

Oil Rebounds from a Three-Month Low, Records Weekly Loss

West Texas Intermediate (WTI) crude futures rose 1.1% to settle at $77.72 per barrel on Friday.
Still, they recorded a 3% weekly loss as U.S. economic data strengthened expectations that
interest rates may remain high for an extended period, hurting the U.S. economic outlook and energy demand.
Additionally, some Federal Reserve officials indicated readiness to raise interest rates if inflation rises,
according to the latest FOMC minutes. U.S. Energy Information Administration data showed an unexpected
increase in U.S. crude inventories last week.
However, a positive note regarding U.S. gasoline demand reached its highest level in November,
providing some support for oil prices ahead of the U.S. summer driving season.
With the focus shifting to the rescheduled OPEC+ meeting on June 2 (previously scheduled for June 1),
market participants await potential extensions of production cuts by key producers to address global oversupply concerns and support prices.

Temporary Pause for the Dollar After a Four-Day Winning Streak

The dollar index fell to 104.8 on Friday, pausing after four consecutive sessions of gains,
as traders continue to assess the timing of the first interest rate cut by the Federal Reserve.
Global PMI data from S&P in the United States showed strong business activity and increased price pressures in the U.S.
In May, coupled with the hawkish stance from the FOMC minutes, prompting investors to push back rate cut expectations.
The probability of easing in December has now risen to about 82%.
The dollar declined against the euro, the British pound, and the Australian dollar.
Over the week, the dollar gained approximately 0.3%.

Temporary Pause for the Dollar After a Four-Day Winning Streak

Temporary Pause for the Dollar After a Four-Day Winning Streak

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