FINWIRES · TerminalLIVE
FINWIRES

US Dollar Falls Early Wednesday Ahead of May Consumer Price Data

By

The US dollar fell against its major trading partners early Wednesday, except against the yen, ahead of the release of consumer price data for May at 8:30 am ET.

Weekly petroleum stocks data are due to be released at 10:30 am ET, followed by the US Treasury's monthly budget statement at 2:00 pm ET.

Earlier Wednesday, the Mortgage Bankers Association reported that mortgage applications rebounded by 10.8% in the week ended June 5 after a decline in the holiday-shortened previous week. Average mortgage rates rose modestly in the current week.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1553 from 1.1542 at the Tuesday US close but was below a level of 1.1567 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule. The next European Central Bank meeting is scheduled for Thursday, when a 25-basis point rate increase is expected.

GBP/USD rose slightly to 1.3381 from 1.3380 at the Tuesday US close but was below a level of 1.3396 at the same time Tuesday morning. There are no UK data on Wednesday's schedule. The next Bank of England meeting is scheduled for June 18.

USD/JPY rose to 160.5051 from 160.4187 at the Tuesday US close and 160.1700 at the same time Tuesday morning. Japanese producer prices rose more than expected in May, lifting the year-over-year rate, according to data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.

USD/CAD fell to 1.3930 from 1.3949 at the Tuesday US close and 1.3932 at the same time Tuesday morning. The Bank of Canada is expected to hold its policy rate steady in its policy announcement scheduled for 9:45 am ET. After that, Canadian consumer sentiment data for June are due to be released at 11:00 am ET.

Related Articles

International

Indonesian Consumer Confidence Falls in May

Indonesia's Consumer Confidence Index fell to 120.9 points in May from 123.0 points in the previous month, according to the Bank Indonesia consumer survey released Wednesday.The index remained in optimistic territory, sitting above the 100-point threshold that separates optimism from pessimism.The shift was driven by a fall in the Current Economic Condition Index, which slid to 112.2 points from 116.5 points, while the Consumer Expectation Index tracking future outlook increased to 129.7 points from 129.6 points.

^JKSE
International

Singapore, East African Community Eye Free Trade Agreement

Singapore President Tharman Shanmugaratnam expressed the city-state's intention to work on a free trade agreement with the East African Community during the former's state visit to Tanzania, according to a release by the Ministry of Foreign Affairs on Tuesday.The negotiation is the first of its kind for both parties.The EAC comprises eight member states, with the announcement coming on the back of the city-state's push to deepen its ties with African countries.

^STI
International

Three NZ Central North Island Regions Post All-Time High New Rental Listings in May

Three of New Zealand's Central North Island regions recorded all-time high new rental listings in May, according to a report by realestate.co.nz released on Wednesday.New listings in Gisborne doubled year on year, rising 102.2% to 91 in May from 45 in the same period last year, while Hawke's Bay recorded a 26.5% increase with 129 new listings.Manawatū-Whanganui's new listings were up 17% year on year to 399.Meanwhile, Otago recorded 48.9% year-on-year decline in new rental listings, falling to 156 from 305. The region's stock also declined by almost 46.7% in May 2025 to 192 total rental listings.Additionally, Southland's new listings declined by almost 23.7%, although its stock levels increased 6.7% compared to the same time last year.In Wellington, total rental stock fell nearly 24.8% year on year in May to 845 properties from 1,123, and new listings declined 12.1% over the same period to 567 from 645.

^NZ50