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The Dollar Index (DXY00) is down by 0.21% ahead of the Federal Reserve’s FOMC meeting results, where interest rates are expected to remain unchanged. The dollar fell to lows due to disappointing US May housing starts, which decreased 9.8% month-over-month to 1.256 million, and building permits, which fell 2.0% to 1.393 million, both below expectations. Initial unemployment claims dropped 5,000 to 245,000, aligning with forecasts.
The euro (EUR/USD) is up 0.29% due to dollar weakness, while the yen (USD/JPY) is down 0.29%, supported by safe-haven buying amid Middle Eastern geopolitical tensions. Japan’s April core machine orders saw a smaller-than-expected decline of 9.1%, and May exports fell 1.7%, better than the expected 3.7% drop. Precious metals are slightly down, with gold at -0.09% and silver at -0.39%, influenced by expectations of stable interest rates and weak industrial metal data.
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