Forecasting the upcoming week: US Dollar ends week higher after strong NFP
The US Dollar (USD) rallied to near 100.10 on Friday, rising from a daily low of 99.16, after the US Nonfarm Payrolls (NFP) report showed the economy added 172K jobs in May, well above the 85K expected, reinforcing expectations that the Federal Reserve (Fed) could raise interest rates later this yea

The US Dollar (USD) rallied to near 100.10 on Friday, rising from a daily low of 99.16, after the US Nonfarm Payrolls (NFP) report showed the economy added 172K jobs in May, well above the 85K expected, reinforcing expectations that the Federal Reserve (Fed) could raise interest rates later this year.

The US Unemployment Rate held at 4.3%, while wage growth eased to 3.4%, suggesting a resilient labor market with softer pay pressure.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.75% 0.65% 0.06% 0.27% 1.26% 1.19% 0.85%
EUR -0.75% -0.11% -0.66% -0.48% 0.50% 0.41% 0.10%
GBP -0.65% 0.11% -0.58% -0.38% 0.61% 0.53% 0.20%
JPY -0.06% 0.66% 0.58% 0.20% 1.19% 1.11% 0.77%
CAD -0.27% 0.48% 0.38% -0.20% 0.99% 0.91% 0.58%
AUD -1.26% -0.50% -0.61% -1.19% -0.99% -0.07% -0.44%
NZD -1.19% -0.41% -0.53% -1.11% -0.91% 0.07% -0.34%
CHF -0.85% -0.10% -0.20% -0.77% -0.58% 0.44% 0.34%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

EUR/USD retreated toward the 1.1520 region as broad USD strength weighed on the Euro. Traders now turn to next week’s European Central Bank (ECB) interest rate decision, where markets will assess whether policymakers maintain a hawkish stance despite slowing activity signals.

GBP/USD fell toward the 1.3330 area, pressured by the stronger Greenback and cautious risk sentiment. Sterling traders will monitor UK Gross Domestic Product (GDP), Industrial Production, and Manufacturing Production data next week for fresh clues on domestic momentum.

USD/JPY pushed through the 160.10 region to 160.15 after the stronger US jobs data lifted the Dollar and US yields, while the Japanese Yen remained under pressure.

AUD/USD fell sharply near 0.7040, down 1.3%, and was under pressure as a stronger USD and a softer risk tone weighed on the Australian Dollar. Investors will look at Australia’s Westpac Consumer Confidence and Consumer Inflation Expectations for additional guidance.

USD/CAD lifted toward a two-month high near 1.3950 despite strong Canadian labor market data, as the US jobs report provided broader support for the Greenback. Canada added 87.8K jobs in May, while the unemployment rate fell to 6.6%, limiting CAD losses.

West Texas Intermediate (WTI) crude oil trades on the back foot near $90.50 per barrel.

Gold remained under heavy pressure near $4,320 as stronger US data supported the USD and reduced near-term expectations for Fed easing.

Anticipating economic perspectives: Voices on the horizon

Tuesday, June 9:

  • ECB President Lagarde

Wednesday, June 10:

  • BoC Press Conference

Thursday, June 11:

  • ECB Press Conference

Friday, June 12:

  • ECB Sleijpen speech
  • ECB Nagel speech

Central banks’ meetings and upcoming data releases to shape

Sunday, June 7:

  • Japan Current Account
  • Japan GDP
  • Japan GDP Deflator

Monday, June 8:

  • Germany Factory Orders
  • Eurozone Sentix Investor Confidence
  • UK BRC Like-For-Like Retail Sales
  • Australia Westpac Consumer Confidence

Tuesday, June 9:

  • China Trade Balance
  • China Exports
  • China Imports
  • Germany Industrial Production
  • Germany Trade Balance
  • US ADP Employment Change 4-week average
  • US Existing Home Sales
  • Eurozone European Council Meeting
  • China CPI
  • China PPI

Wednesday, June 10:

  • US CPI
  • BoC Interest Rate Decision
  • BoC Monetary Policy Statement
  • European Council Meeting
  • Australia Consumer Inflation Expectations

Thursday, June 11:

  • Eurogroup Meeting
  • ECB Interest Rate Decision
  • ECB Monetary Policy Statement
  • US Initial Jobless Claims
  • US PPI
  • US Monthly Budget Statement
  • New Zealand Business NZ PMI

Friday, June 12:

  • Germany HICP
  • EUR EcoFin Meeting
  • UK GDP
  • UK Industrial Production
  • UK Manufacturing Production
  • France CPI
  • Spain HICP
  • UK Consumer Inflation Expectations
  • US Michigan Consumer Sentiment
  • US Michigan Consumer Expectations
  • US UoM Inflation Expectations

WTI Oil FAQs

WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.

Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.

The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.

OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

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