{"id":3051,"date":"2024-06-04T07:27:55","date_gmt":"2024-06-04T07:27:55","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=3051"},"modified":"2025-05-15T14:04:55","modified_gmt":"2025-05-15T14:04:55","slug":"news-week-ahead-june-2024","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/opening-bell\/news-week-ahead-june-2024\/","title":{"rendered":"DXY Breaking Parallel Channel, High Impact News Week Ahead"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

As DXY continues to break down, the markets are experiencing some mixed sentiments.<\/p>\n\n\n\n

On one hand, the technicals of the DXY are helping the general markets rally. DXY has broken down from a weekly\/daily parallel channel, and is expected to retest 102.58 or lower.<\/p>\n\n\n\n

On the other hand, investors are now questioning how many rate cuts the Federal Reserve will introduce in 2024 \u2013 perhaps even not cutting at all this year.<\/p>\n\n\n\n

For context, the last U.S inflation reading (April) was 3.36%<\/a>, but it was previously at 3.1% in January. Additionally, investors were speculating that three rate cuts would happen in 2024, with the first coming in March, the second in June, and the third in September.<\/p>\n\n\n\n

However, the current Fedwatch Tool<\/a> reveals a telling story about the markets\u2019 expectations in June. The aggregated probabilities for interest rates to be held is now sitting at 99.9%, instead of a previously higher expectation for a cut.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Source: Fedwatch Tool<\/strong><\/p>\n\n\n\n

So what can we expect this week?<\/h2>\n\n\n\n

We\u2019re in for a volatile week ahead because it is a high impact news week<\/strong>. Key news to keep an eye are:<\/p>\n\n\n\n