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Gold steadies as US CPI softens and Trump boosts market optimism
Gold steadies as US CPI softens and Trump boosts market optimism
Gold prices are trading higher midweek as investors digest a softer-than-expected US Consumer Price Index (CPI) report for May, alongside renewed optimism surrounding US-China trade relations.
Gold
XAUUSD
Technical Analysis
Commodities
Macroeconomics
EUR up marginally vs. USD – Scotiabank
EUR up marginally vs. USD – Scotiabank
The Euro (EUR) is up marginally vs. the US Dollar (USD), trading toward the mid-1.14s on the back of the broader market’s muted reaction to the US/China talks.
EURUSD
Banks
Technical Analysis
ECB
GBP: The British Chancellor of the Exchequer's concerns are likely to grow further – Commerzbank
GBP: The British Chancellor of the Exchequer's concerns are likely to grow further – Commerzbank
Yesterday's British labour market data reinforced the concerns of those backing the United Kingdom. The unemployment rate rose as expected, wage growth slowed unexpectedly, and the number of people in employment fell by around 109,000.
GBPUSD
Banks
Technical Analysis
BOE
UnitedKingdom
USD/INR Price Forecast: The support area at 85.25 is coming into focus
USD/INR Price Forecast: The support area at 85.25 is coming into focus
The Indian Rupee is trading higher for the fifth consecutive day on Wednesday.
USDINR
DollarIndex
Technical Analysis
Inflation
EUR/JPY breaks out of multi-month range, eyes 168.40 target – Société Générale
EUR/JPY breaks out of multi-month range, eyes 168.40 target – Société Générale
EUR/JPY has broken above key technical resistance at 164.60, regaining upward momentum after months of consolidation.
EURJPY
Technical Analysis
Banks
Three reasons why higher US inflation figures may not help the USD – Commerzbank
Three reasons why higher US inflation figures may not help the USD – Commerzbank
Today, the foreign exchange market is awaiting the week's key data: the US inflation figures for May.
DollarIndex
Banks
Inflation
Fed
Technical Analysis
USD/CNH: Expected to trade in a range of 7.1730/7.1970 – UOB Group
USD/CNH: Expected to trade in a range of 7.1730/7.1970 – UOB Group
US Dollar (USD) is expected to trade in a range of 7.1730/7.1970 against Chinese Yuan (CNH). In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
USD/JPY: Likely to trade in a higher trading range of 144.50/145.50 – UOB Group
USD/JPY: Likely to trade in a higher trading range of 144.50/145.50 – UOB Group
Slight increase in upward momentum is likely to lead to a higher trading range of 144.50/145.50.
USDJPY
Technical Analysis
Banks
CAD: Broadly unattractive – ING
CAD: Broadly unattractive – ING
The Canadian Dollar (CAD) has been one of the best performers in the G10 over the past month, helped by some stronger-than-expected inflation and growth data that ultimately led to a Bank of Canada hold on 4 June, ING's FX analyst Francesco Pesole notes.
USDCAD
Banks
Technical Analysis
Canada
BOC
NZD/USD: Likely to trade with an upward bias – UOB Group
NZD/USD: Likely to trade with an upward bias – UOB Group
New Zealand Dollar (NZD) is likely to trade with an upward bias against US Dollar (USD); the major resistance at 0.6095 is likely out of reach.
NZDUSD
Technical Analysis
Banks
USD: Inflation and 10-year auction in focus today – ING
USD: Inflation and 10-year auction in focus today – ING
This week hasn’t shown a clear direction for the dollar so far. Uncertainty around how far-reaching the US-China trade talks in London will be has left room for domestic factors to shape relative performance across G10 currencies.
DollarIndex
Banks
Technical Analysis
Inflation
AUD/USD: Major resistance at 0.6555 is likely out of reach – UOB Group
AUD/USD: Major resistance at 0.6555 is likely out of reach – UOB Group
Increasing momentum suggests further upside pressure; the major resistance at 0.6555 is likely out of reach. In the longer run, bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Banks
Technical Analysis
EUR/CAD Price Forecast: Tests 1.5650 barrier near descending channel’s upper boundary
EUR/CAD Price Forecast: Tests 1.5650 barrier near descending channel’s upper boundary
EUR/CAD recovers its recent losses, trading around 1.5640 during the European hours on Wednesday. Technical analysis on the daily chart points to the potential weakening of a bearish bias, with the currency cross hovering near the upper boundary of the descending channel.
Technical Analysis
Crosses
EURCAD
EUR/GBP: Spending Review not a game-changer – ING
EUR/GBP: Spending Review not a game-changer – ING
Wednesday’s Spending Review shouldn't be a big moment for financial markets, ING's FX analyst Francesco Pesole notes.
Banks
Technical Analysis
EURGBP
GBP/USD: Any decline may be limited to a retest of the 1.3460 level – UOB Group
GBP/USD: Any decline may be limited to a retest of the 1.3460 level – UOB Group
Further Pound Sterling (GBP) weakness is not ruled out against US Dollar (USD); oversold conditions suggest any decline may be limited to a retest of the 1.3460 level.
GBPUSD
Technical Analysis
Banks
EUR: ECB reinforcing hawkish tone – ING
EUR: ECB reinforcing hawkish tone – ING
This week’s moves are almost entirely driven by US-related events. The only Euro input comes from scheduled ECB speeches, which so far have reinforced the less dovish tone set by President Christine Lagarde last week, ING's FX analyst Francesco Pesole notes.
EURUSD
Technical Analysis
Banks
EUR/USD: Likely to trade in a range of 1.1385/1.1460 – UOB Group
EUR/USD: Likely to trade in a range of 1.1385/1.1460 – UOB Group
There has been no increase in either downward or upward momentum; Euro (EUR) is likely to trade in a range of 1.1385/1.1460. In the longer run, EUR appears to have entered a range trading phase between 1.1330 and 1.1495, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
USDJPY Technical Analysis – All eyes on the US CPI
USDJPY Technical Analysis – All eyes on the US CPI
The USDJPY pair continues to range amid conflicting fundamentals as traders await more information to pick a direction.
WTI Price Forecast: Oil remains bullish with downside attempts capped at $63.45
WTI Price Forecast: Oil remains bullish with downside attempts capped at $63.45
Oil prices are showing a moderate reversal on Wednesday, as the vague news about the US-China trade deal has been taken with more scepticism than enthusiasm.
Oil
WTI
Technical Analysis
Energy
Bullish
EUR/JPY Price Forecast: Retains bullish bias above 165.50
EUR/JPY Price Forecast: Retains bullish bias above 165.50
The EUR/JPY cross posts modest gains near 165.50 during the early European session on Tuesday. The Japanese Yen (JPY) softens against the Euro (EUR) amid the improved risk sentiment as positive developments from US-China trade talks undermine the JPY's safe-haven status.
EURJPY
Technical Analysis
Crosses
Bullish
USD/CHF Price Forecast: Consolidates below 0.8245-0.8250 horizontal barrier
USD/CHF Price Forecast: Consolidates below 0.8245-0.8250 horizontal barrier
The USD/CHF pair extends its consolidative price move through the Asian session on Wednesday and remains confined in a range held over the past two weeks or so amid mixed cues.
USDCHF
Technical Analysis
Majors
Currencies
AUD/JPY Price Forecast: Extends rally, eyes break above 95.00
AUD/JPY Price Forecast: Extends rally, eyes break above 95.00
The AUD/JPY advances for the fifth straight trading session, up by a modest 0.04% as Wednesday’s Asian session begins.
AUDJPY
Technical Analysis
Currencies
Crosses
USD/JPY Price Forecast: Breaks above 145.00 as trade hopes lift USD
USD/JPY Price Forecast: Breaks above 145.00 as trade hopes lift USD
The USD/JPY pair advances for the first time in the week, clearing Monday’s high of 144.95, as the US Dollar (USD) climbs on speculation that Washington and Beijing might reach a trade agreement in London. This has pushed the major above 145.00, posting gains of over 0.24%.
Technical Analysis
USDJPY
Currencies
GBPUSD at a crossroad: Breakout failure or next leg higher?
GBPUSD at a crossroad: Breakout failure or next leg higher?
Key battle unfolds between 1.3411 and 1.3514 as buyers lose grip near 50% retracemen
Silver Price Forecast: XAG/USD pulls back from $37.00 as US Dollar rebounds on US-Sino talks
Silver Price Forecast: XAG/USD pulls back from $37.00 as US Dollar rebounds on US-Sino talks
Silver price faces resistance near $37.00 and retreats by some 0.50% on Tuesday as the US dollar stages a comeback, with investors growing more confident of a US-China deal later in the day. At the time of writing, the XAG/USD trades at $36.52, below its opening price.
Technical Analysis
XAGUSD
Silver
Metals
EUR/USD stalls with traders awaiting US CPI and US-China headlines
EUR/USD stalls with traders awaiting US CPI and US-China headlines
EUR/USD remains stable during Tuesday’s North American session as investors await updates on US-China trade talks in London and the release of the latest inflation figures in the United States (US). At the time of writing, the pair is trading at 1.1423, virtually unchanged.
Majors
EURUSD
Macroeconomics
Technical Analysis
SEO
Gold holds as US-China thaw lifts mood, eyes on US CPI
Gold holds as US-China thaw lifts mood, eyes on US CPI
Gold price clings to modest gains on Tuesday after bouncing off a daily low near the $3,300 figure as talks between the United States (US) and China appear to be progressing well, improving risk appetite among investors who are driving US equities higher. The XAU/USD trades at $3,328, up 0.10%.
Gold
XAUUSD
Technical Analysis
Fundamental Analysis
SEO
EURUSD Bounce: Key MAs in play as bulls/buyers build their case
EURUSD Bounce: Key MAs in play as bulls/buyers build their case
EURUSD back above the 100-hour MA—can support hold?
AUDUSD approaches major resistance: Is a breakout coming?
AUDUSD approaches major resistance: Is a breakout coming?
The swing highs from 2025. The 61.8% retracement. Swing highs from November are all in play on the topside.
USDCAD slips back after failed break above 200-hour MA
USDCAD slips back after failed break above 200-hour MA
Momentum fades after third failed break above 200-hour MA. Testing the 100 hour MA on the downside now.
USDCHF stalls below key resistance. Support targets eyed on the downside
USDCHF stalls below key resistance. Support targets eyed on the downside
Ceiling at 0.8249 holds again. The falll has the USDCHF price testing a cluster of moving average and Fibonacci support near 0.82056 to 0.8214.
The USD is mixed vs 3 major currency pairs to kickstart US trading on June 10. What next?
The USD is mixed vs 3 major currency pairs to kickstart US trading on June 10. What next?
The USD is waiting on trade talks with US and China, and the US CPI tomorrow
EUR extending consolidation in low1.14s – Scotiabank
EUR extending consolidation in low1.14s – Scotiabank
The Euro (EUR) is also entering Tuesday’s NA session unchanged vs. the US Dollar (USD) with a modest recovery of mild late Asian/early European session weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Banks
Technical Analysis
CAD unchanged as FV is flattered by both spreads and oil – Scotiabank
CAD unchanged as FV is flattered by both spreads and oil – Scotiabank
The Canadian Dollar (CAD) is entering Tuesday’s NA session unchanged from Monday’s close, recovering from mild weakness observed in late Asian / early European trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDCAD
Banks
Technical Analysis
BOC
Canada
USD: FX markets in holding pattern awaiting fresh catalyst – Scotiabank
USD: FX markets in holding pattern awaiting fresh catalyst – Scotiabank
Currency markets are generally quiet as we move into Tuesday’s NA session. All of the G10 currencies are trading in a relatively tight range, with the exception of GBP as it underperforms on the back of a weaker domestic employment release.
DollarIndex
Banks
Technical Analysis
Fed
USD/JPY pulls back after briefly breaching 145.00 as BOJ reaffirms caution – Société Générale
USD/JPY pulls back after briefly breaching 145.00 as BOJ reaffirms caution – Société Générale
USD/JPY briefly breached the psychologically significant 145.00 level before pulling back, as dovish remarks from BOJ Governor Ueda reinforced market expectations for a slow and cautious policy normalization.
USDJPY
Banks
BOJ
Technical Analysis
USD/CNH: Likely to trade in a range of 7.1700/7.1900 – UOB Group
USD/CNH: Likely to trade in a range of 7.1700/7.1900 – UOB Group
US Dollar (USD) is likely to trade in a range of 7.1700/7.1900 against Chinese Yuan (CNH). In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
USD/JPY: Likely to consolidate in a range of 144.00/145.00 – UOB Group
USD/JPY: Likely to consolidate in a range of 144.00/145.00 – UOB Group
US Dollar (USD) is likely to consolidate in a range of 144.00/145.00. In the longer run, increase in momentum is not sufficient to indicate a sustained advance just yet; USD must first break and hold above 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USDJPY
Technical Analysis
Banks