Trading plan for June 5

The USD has continued to weaken after the Federal Reserve Chair Jerome Powell hinted the possibility of a rate cut this year. Will the FOMC members bring some optimism to the market? Let’s wait for the speeches by Richard Clarida and Michelle Bowman during the American trading session. In addition, we anticipate higher figures for ISM non-manufacturing PMI. It may bring positive momentum to the greenback as well.

While most of the emerging market currencies take advantage of the USD weakness, we can see the South African rand weakening. The rise of the USD/ZAR happened due to the shocking figures of the South African GDP growth for the first quarter. It declined by 3.2%, making it the largest contraction since 2009.

Also today we anticipate the release by U.S. Energy Information Administration. According to the forecasts, we will see a decline in the output by 300 thousand barrels. The lower level may push the oil prices up.

Similar

Latest news

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera