Forecasting the upcoming week: US Dollar loses momentum ahead of key US inflation data

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 Swiss Franc.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.16%	-0.22%	-0.06%	0.25%	-0.02%	0.23%	0.28%
EUR	0.16%		-0.05%	0.13%	0.41%	0.14%	0.37%	0.44%
GBP	0.22%	0.05%		0.17%	0.45%	0.21%	0.44%	0.50%
JPY	0.06%	-0.13%	-0.17%		0.30%	0.06%	0.27%	0.33%
CAD	-0.25%	-0.41%	-0.45%	-0.30%		-0.22%	-0.03%	0.03%
AUD	0.02%	-0.14%	-0.21%	-0.06%	0.22%		0.21%	0.30%
NZD	-0.23%	-0.37%	-0.44%	-0.27%	0.03%	-0.21%		0.05%
CHF	-0.28%	-0.44%	-0.50%	-0.33%	-0.03%	-0.30%	-0.05%

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 declined over 0.80% this week to the 1.1480 level amid a broadly strong US Dollar. The Eurozone calendar will keep its eyes on flash PMI data, which should give investors a clearer view of whether activity remains fragile across manufacturing and services. Germany will also be important, with flash PMIs, the Ifo Business Climate survey, and GfK Consumer Confidence due during the week. Any signs of weaker German business sentiment could weigh on the Euro, especially after ECB officials warned about uncertainty around energy prices, inflation transmission, and second-round wage effects.

GBP/USD is trading near 1.3230, with a strong weekly decline, after the Bank of England (BoE) left interest rates unchanged at 3.75% in a 7-2 vote, with two policymakers supporting a hike to 4.00%. Next week, the United Kingdom (UK) flash PMIs and final Q1 Gross Domestic Product (GDP) data will be key for the Pound Sterling.

USD/JPY remains near intervention levels at 161.30, focused on the balance between Fed caution and the Bank of Japan’s (BoJ) tightening bias. The BoJ recently raised interest rates to 1.00%, while officials continue to warn that inflation risks could require further action. Japan’s flash PMIs, Tokyo CPI, and comments from BoJ officials will be watched closely.

AUD/USD fell this week toward the 0.7020 level, a significant domestic test as Australia releases flash PMIs, monthly CPI, and labor market data. A stronger CPI print or resilient employment data could support the Aussie, while weaker numbers may leave AUD/USD vulnerable to renewed US Dollar strength.

Gold (XAU/USD) struggles near the $4,155 level as geopolitical uncertainty and concerns over the Middle East could limit downside for the precious metal.

West Texas Intermediate (WTI) Oil fell for a second consecutive week near $76.50 per barrel as the US-Iran agreed a peace deal, weighing on Oil prices. Markets will watch whether Oil flows continue to normalize, as lower energy prices could ease inflation fears and influence central-bank expectations.

Anticipating economic perspectives: Voices on the horizon

Monday, June 22

ECB President Lagarde
Fed’s Waller
ECB President Lagarde

Tuesday, June 23

ECB’s Lane
BoC Governor Macklem
ECB’s Elderson
ECB’s Vujčić
BoE’s Taylor
BoE’s Dhingra

Wednesday, June 24

ECB’s Nagel
BoE’s Breeden
ECB’s Cipollone
BoE’s Dhingra

Thursday, June 25

ECB’s Philip
ECB’s Cipollone
Fed’s Williams
Fed’s Goolsbee

Friday, June 26

ECB’s Nagel
Fed’s Williams
ECB’s Vujčić

Saturday, June 27

ECB’s Schnabel
RBA Governor Bullock

Central banks’ meetings and policy decisions to shape markets

No major Fed, BoE, BoJ, or RBA interest rate decisions are scheduled for the week, leaving investors focused on speeches, incoming data, and the market interpretation of the latest policy meetings.