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June Has Already Arrived in Forex Markets: Dollar Rally

The month end madness seems to have ended, and with it the dollar correction.  The greenback is now rocking and rolling, making gains across the board, even though the timing of QE tapering remains uncertain.

This was also helped by a better than expected Chicago PMI, which surprised with a big comeback from 49 to 58.7 points. A score of 50.3 was expected. The US consumer sentiment was revised to the upside: from 83.7 to 84.5, above predictions of 84.1 points.

However, it is important to remember that the previous batch of US figures wasn’t that positive: personal spending, personal income and the Core PCE Price Index all fell short of predictions.

The upcoming week is packed with top tier events: Non-Farm Payrolls and 3 rate decisions among other events. See the fresh forex weekly outlook for all the details.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.