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The US dollar drifted higher on June 5, 2024 after US services sector data showed a rebound in May following contraction in April. The result added uncertainty about when the Federal Reserve would start easing.
Stronger US services activity supports Fed patience on rate cuts, which underpins the dollar and modestly pressures dollar-priced commodities.
reuters.comGertrude Chavez-DreyfussJun 5, 2024After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
