Here is what you need to know on Tuesday, June 11: The US Dollar Index fluctuates in a tight channel above 105.00 early Tuesday after posting small gains on Monday.
The economic calendar will not feature any high-impact data releases. Later in the American session, the US Treasury will hold a 10-year Treasury note auction and the Federal Reserve's two-day policy meeting will get underway. The risk-averse market atmosphere helped the US Dollar stay resilient against its rivals at the beginning of the week. Meanwhile, investors refrain from taking large positions ahead of Wednesday's Consumer Price Index data and the Fed's policy decisions.
Gold price remains on the defensive amid renewed rate jitters, US Dollar demand. Central banks FAQs What does a central bank do? Central Banks have a key mandate which is making sure that there is price stability in a country or region. Economies are constantly facing inflation or deflation when prices for certain goods and services are fluctuating. Constant rising prices for the same goods means inflation, constant lowered prices for the same goods means deflation.
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