USD dollar breaks out over 90.44

#OPINIONLEADER# #USDollarIndex#

ByScott Andrews

USD index 04 06 2021

Last night a strong move higher saw the US dollar break above recent resistance at 90.44 with The IHS Markit Final Services PMI data coming in at 70.4, Forecast: 70.1, Previous: 70.1 yesterday indicated a slight upward revision in the rate of expansion of the services sector in May. ISM Services PMI data actual: 64.0, Forecast: 63.0, Previous: 62.7 was released yesterday indicated an increase in the rate of expansion of the services sector in May.

Key points to pay attention to today:

• Federal Reserve Chairman Powell will be speaking later at 19:00 (GMT+8). During this time, there may be volatility in USD.
• The U.S. jobs report will be released later at 2030 (GMT+8).
• Average Hourly Earnings m/m (Forecast: 0.2%, Previous: 0.7%)
• Non-Farm Employment Change (Forecast: 645K, Previous: 266K)
• Unemployment Rate (Forecast: 5.9%, Previous: 6.1%)

These economic announcements if exceed expectations should see the US dollar move higher as price holds above 90.44.