The US Dollar Index (DXY) lost ground during the week, trading down 0.27% near the 99.80 level as investors prepared for a heavy central bank calendar next week.
US dollar price today
The table below shows the percentage change in the US Dollar (USD) against the major currencies listed today. The US dollar was strongest against the Swiss franc.
| USD | EUR | gbp | JPY | scurvy | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.07% | 0.07% | 0.14% | 0.11% | 0.00% | 0.07% | 0.26% | |
| EUR | -0.07% | -0.01% | 0.09% | 0.05% | -0.07% | -0.01% | 0.18% | |
| gbp | -0.07% | 0.00% | 0.11% | 0.05% | -0.09% | 0.00% | 0.17% | |
| JPY | -0.14% | -0.09% | -0.11% | -0.06% | -0.17% | -0.10% | 0.06% | |
| scurvy | -0.11% | -0.05% | -0.05% | 0.06% | -0.11% | -0.05% | 0.13% | |
| AUD | -0.00% | 0.07% | 0.09% | 0.17% | 0.11% | 0.06% | 0.21% | |
| NZD | -0.07% | 0.01% | -0.00% | 0.10% | 0.05% | -0.06% | 0.17% | |
| CHF | -0.26% | -0.18% | -0.17% | -0.06% | -0.13% | -0.21% | -0.17% |
The heat map shows the percentage change of major currencies against each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select US Dollar from the left column and move to Japanese Yen along the horizontal line, the percentage change displayed in the box will represent USD (base)/JPY (quote).
EUR/USD remained under pressure but ended the week up 0.4% near 1.1570. Next week in the Eurozone, investors will look to industrial production, final HICP inflation and producer price index (PPI) data for new clues on growth and price pressures. Germany will be the focus of the ZEW survey, which will compile readings on current conditions and economic sentiment.
GBP/USD gained 0.49% during the week and approached the 1.3400 level. The pair will be driven by the busy United Kingdom (UK) calendar and the Bank of England (BoE) interest rate decision next week. The central bank is expected to keep rates unchanged, but the vote split will be important for the pound sterling.
UK CPI, PPI, wages growth, employment data, jobless claims, consumer confidence and retail sales will also be released, providing markets with a comprehensive picture of inflation, labor market conditions and consumer demand.
USD/JPY ended the week near the 160.20 level, taking into account intervention risks ahead of the Bank of Japan (BOJ) decision. The BOJ is expected to give a major policy update, while traders will also monitor the press conference, Japan trade data, national CPI and BOJ monetary policy meeting minutes for signals on next policy steps.
AUD/USD remained neutral throughout the week and closed near the 0.7050 level on Friday. Traders in the pair will next turn their attention to the Royal Bank of Australia (RBA) interest rate decision, policy statement and press conference. The RBA is expected to keep rates unchanged, but its language on inflation and future policy could weigh on the Australian dollar.
West Texas Intermediate (WTI) oil is trading near $84.30 a barrel after Friday’s selloff triggered by US President Donald Trump’s decision not to bomb Iran on Thursday. Looking ahead, crude oil prices may remain sensitive to any fresh headlines on a potential Iran deal, shipping activity through the strait and broader risk sentiment.
Gold remained near $4,215 supported by safe-haven demand as investors monitored Middle East tensions and prepared for next week’s Fed decision. The precious metal may remain volatile, with the Fed’s dovish stance likely to put pressure on bullion, while geopolitical uncertainty may continue to limit downside.
Economic perspective of hope: voices on the horizon
Monday, June 15:
- ECB’s Nagel
- ecb president laggard
- ECB’s Cipollone
Tuesday, June 16:
- rba press conference
- BOJ press conference
- ecb lane
- sleazepan of ecb
Wednesday, June 17:
- ECB’s Cipollone
- sleazepan of ecb
- FOMC press conference
Thursday, June 18:
- ECB’s Nagel
- ECB’s Alderson
- ECB’s Cipollone
- ecb lane
Friday, June 19:
- ecb lane
- ECB’s Cipollone
- ECB’s Alderson
WTI Oil FAQs
WTI oil is a type of crude oil that is sold in international markets. WTI stands for West Texas Intermediate, one of three major types of crude including Brent and Dubai crude. WTI is also called “light” and “sweet” due to its relatively low gravity and sulfur content, respectively. It is considered a high quality oil that can be easily refined. It is sourced in the United States and distributed through the Cushing Hub, considered the “Pipeline Crossroads of the World”. It is a benchmark for the oil market and the price of WTI is often quoted in the media.
Like all assets, supply and demand are the key drivers of the price of WTI oil. Thus, global growth can be a driver of rising demand and vice versa for weak global growth. Political instability, war and sanctions can disrupt supplies and impact prices. Decisions by OPEC, a group of major oil producing countries, are another major price driver. The value of the US dollar affects the price of WTI crude oil, as oil is primarily 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) influence the price of WTI oil. Changes in inventory reflect fluctuations in supply and demand. If the data shows a decline in inventories it could indicate increased demand, sending oil prices higher. Higher inventory may reflect increased supply, driving prices down. The API report is published every Tuesday and the EIA report the next day. Their results are generally identical, coming within 1% of each other 75% of the time. EIA data is considered more reliable because it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 oil producing countries that collectively set production quotas for member countries in twice-yearly meetings. Their decisions often impact WTI oil prices. When OPEC decides to reduce quotas, it could tighten supply, causing oil prices to rise. When OPEC increases production it has the opposite effect. OPEC+ refers to an expanded group that includes ten additional non-OPEC members, the most notable of which is Russia.
