On June 5th, Jinshi Data reported that Fxstreet analyst Sagar Dua pointed out that the euro against the US dollar was hovering around 1.0880 before the release of key US economic data today. The relative strength index (RSI) of the currency pair has declined to the range of 40.00-60.00 for the 14th day, indicating that the upward momentum has now faded. It is expected to continue to rise towards the high point of March 21st, around 1.0950. If it decisively breaks through the resistance level of 1.09, it will break through the psychological resistance level of 1.1000. However, if it falls below the 200-day moving average of 1.08, it may push it into a bearish range.

Analyst Sagar Dua said that WTI crude oil futures appear to be headed for a weekly decline. Today, oil prices have fallen for the fifth consecutive trading day. Despite expectations of a decline in the US April CPI report, Federal Reserve policymakers are maintaining a strong interest rate guidance, putting pressure on oil prices this week. Given the strength of the US labor market, Fed officials are uncertain whether the process of inflation falling back will recover. Policymakers have made it clear that they will only consider cutting interest rates when they have greater confidence that inflation will return to the expected level of 2%. The next trigger for oil prices will be the OPEC meeting scheduled for June 1, where member countries will discuss supply policies. At the last meeting held on April 13, OPEC+ did not change the current voluntary production cut plan of 2.2 million barrels per day.