**Market Overview: Dollar Weakness and Rising Job Openings**
The dollar index (DXY) is down 0.04% as of today, influenced by President Trump’s optimistic comments on ongoing negotiations with Iran and a significant rise in U.S. job openings. The U.S. April JOLTS job openings unexpectedly increased by 731,000, reaching a 23-month high of 7.618 million, exceeding expectations of a decline to 6.866 million. The market is currently pricing in a 2% chance of a 25 basis point rate cut at the next FOMC meeting on June 16-17.
In the Eurozone, May consumer prices rose 3.2% year-on-year, the fastest rate in over 2.5 years, while core CPI climbed 2.5%, stronger than the anticipated 2.4%. This data strengthens the likelihood of a 25 basis point rate hike by the ECB, with a 98% probability estimated for the June 11 meeting. Meanwhile, gold prices increased by 0.63%, supported by lower global bond yields and safe-haven demand amid geopolitical uncertainties in the Middle East.
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