Market news

USD/JPY climbs near 132.50s after reaching a 20-year high around 133.00

US: Real trade deficit narrowed considerably in April – Wells Fargo

USD/CAD slides to test weekly lows under 1.2565

US: A recession seems inevitable in 2023 – Rabobank

NZD/USD rebounds to upper 0.6400s as risk appetite improves, 21DMA offers support

New Zealand GDT Price Index above expectations (-0.4%): Actual (1.5%)

Turkey Treasury Cash Balance up to 149.23B in May from previous -43.67B

WTI rebounds from sub-$118 session lows to near $120 amid bullish fundamental backdrop

Canada Ivey Purchasing Managers Index down to 66.7 in May from previous 68

Canada Ivey Purchasing Managers Index s.a up to 72 in May from previous 66.3

USD/TRY picks up pace and records new 2022 tops near 16.80

USD/CHF Price Analysis: Bulls have the upper hand, 0.9745-50 confluence hurdle breakout in play

US Treasury Sec Yellen: US faces challenges including “unacceptable levels of inflation”, supply chain snags

World Bank: Lowers 2022 global growth forecast to 2.9% from 4.1% in January

US: NFP supports further Fed’s tightening – UOB

GBP/USD needs to firm up past the mid-1.25s to improve its fate – Scotiabank

USD/CAD to decline toward the 1.25 area on a push back below 1.2585 – Scotiabank

EUR/USD Price Analysis: Next support comes at 1.0627

Silver Price Analysis: XAG/USD falls under $22.00 but remains within recent ranges ahead of this week’s US CPI

EUR/NOK to fall below the 10 mark again – Commerzbank

Gold Price continues to react to US yields, looks fragile

Gold Price Forecast: Two reaons keeping XAUUSD elevated – TDS

USD/JPY has the 135 mark in its crosshairs – TDS

South Korea: BoK forecast to hike rates in July – UOB

AUD/USD retreats further from post-RBA swing high, flirts with 0.7150 support zone

US Dollar Index Price Analysis: Scope for further gains near term

United States Redbook Index (YoY) fell from previous 12.6% to 12.4% in June 3

United States Goods and Services Trade Balance came in at $-87.1B, above forecasts ($-89.5B) in April

Canada: International trade surplus shrinks to C$1.5 billion in April versus C$2.90 billion expected

United States Goods and Services Trade Balance above expectations ($-89.5B) in April: Actual ($-87.08B)

Canada Imports climbed from previous $61.14B to $62.81B in April

US: Goods and Services Trade deficit shrinks to $87.1B in April versus $89.5B expected

United States Goods Trade Balance fell from previous $-105.9B to $-107.7B in April

Chile Trade Balance declined to $851M in May from previous $1071M

Canada Exports up to $64.31B in April from previous $63.63B

Canada International Merchandise Trade came in at $1.5B below forecasts ($2.9B) in April

USD/JPY stands tall near two-decade peak, just below 133.00 mark amid stronger USD

GBP/USD recovers from near three-week lows to near 1.2500 as 21DMA offers support

EUR/JPY Price Analysis: Next on the upside comes 145.32

Thailand: BoT expected to keep rates unchanged this week – UOB

NZD/USD struggles near two-week low, around mid-0.6400s amid modest USD strength

Japan's Yamagiwa: Watching any impact of FX moves on economy

USD/CAD trims a part of intraday gains, downside seems limited amid sliding oil prices/modest USD strength

India: RBI seen on hold this week – UOB

South Africa Gross Domestic Product (QoQ) above expectations (1.2%) in 1Q: Actual (1.9%)

South Africa Gross Domestic Product (YoY) above expectations (1.7%) in 1Q: Actual (3%)

AUD/USD bulls fail at 200-DMA yet again despite hawkish RBA surprise

EUR/USD looks offered and drops to 3-day lows near 1.0660

Gold Price Forecast: XAUUSD to remain under pressure following robust US jobs data – Commerzbank

USD/CNH: Downside alleviated above 6.6850 – UOB

Gold Price Forecast: XAUUSD sticks to modest gains, upside potential seems limited

Greece Gross Domestic Product s.a (YoY) declined to 7% in 1Q from previous 7.7%

Singapore Foreign Reserves (MoM): 345.3B (May) vs previous 365.2B

EUR/USD to extend its slide in case the 1.0680 level turns into resistance

Spain 6-Month Letras Auction: -0.078% vs -0.351%

Spain 12-Month Letras Auction climbed from previous 0.078% to 0.479%

UK Final Services PMI revised sharply higher to 53.4 in May vs. 51.8 expected

Eurozone Sentix Investor Confidence improves to -15.8 in June vs. -20.0 expected

United Kingdom S&P Global/CIPS Services PMI above forecasts (51.8) in May: Actual (53.4)

European Monetary Union Sentix Investor Confidence above forecasts (-20) in June: Actual (-15.8)

EUR/CAD needs to hold the April low at 1.3390 to avoid further losses – Scotiabank

GBP/USD: Unconvincing Boris win leaves the pound vulnerable – MUFG

Silver Price Analysis: XAG/USD remains depressed near $22.00, lacks follow-through selling

US Dollar Index: Bulls extend the march north and now target 103.00

GBP/USD to extend its losses towards 1.55 and possibly the 2013 low around 1.52 – Scotiabank

China Foreign Exchange Reserves (MoM) registered at $3.128T above expectations ($3.12T) in May

Forex Today: Dollar capitalizes on rising US yields ahead of mid-tier data

USD/JPY: Door open to 133.00? – UOB

USD/CHF clings to gains near two-week top, just below mid-0.9700s amid modest USD strength

Natural Gas Futures: Rally looks unabated short term

EUR/USD: More liable to weaken towards the mid-1.06s than rally following ECB decision – Scotiabank

S&P 500 Index to tank towards 3,400 on negative earnings revisions – Morgan Stanley

EUR/CZK to see upward pressure amid increased koruna volatility – Commerzbank

NZD/USD: Further rangebound in the pipeline – UOB

USD/INR: Rupee to find support from a 50 bp hike from the RBI, but some weakness lies ahead – TDS

EUR/GBP struggles around 0.8580, upside remain intact on hawkish ECB bets

GBP/USD bounces off multi-week low, keeps the red below 1.2500 amid stronger USD

Austria Wholesale Prices n.s.a (MoM): 1% (May) vs 0.9%

Austria Wholesale Prices n.s.a (YoY) fell from previous 26% to 25.1% in May

Switzerland Foreign Currency Reserves fell from previous 926B to 925B in May

Spain Industrial Output Cal Adjusted (YoY) came in at 2.4%, above expectations (-0.2%) in April

UK PM Johnson set to address Cabinet on Tuesday – Reuters

EUR/USD remains in a delicate state – NBF

USD/TRY traces options market signals to refresh yearly top around 16.70

Gold Price Forecast: XAUUSD could remain range-bound near $1,850 as summer trading begins – TDS

FX option expiries for June 7 NY cut

USD/CAD: Loonie to appreciate as Canadian economy continues to show resilience – NBF

EUR/JPY hovers around seven-year high of 142.00 on downbeat German data, ECB eyed

RBI Preview: Forecasts from four major banks, strong rate hike

AUD/USD surrenders intraday gains, skids below 0.7180 despite hawkish RBA

EUR/USD to enjoy further gains on a break past resistance at 1.0931 – DBS Bank

NZD/USD Price Analysis: Renews fortnight low near 0.6450, 20-DMA tests further downside

German Factory Orders drop 2.7% MoM in April, a negative surprise

Crude Oil Futures: Room for further correction near term

Germany Factory Orders n.s.a. (YoY): -6.2% (April) vs previous -3.1%

Germany Factory Orders s.a. (MoM) below expectations (0.5%) in April: Actual (-2.7%)

USD/JPY Price Analysis: Overbought near 133.00 but bulls refuse to give up yet

South Africa Gross $Gold & Forex Reserve below expectations ($59.44B) in May: Actual ($59.258B)

South Africa Net $Gold & Forex Reserve registered at $54.431B, below expectations ($55.232B) in May

Denmark Industrial Production (MoM): 1.1% (April) vs previous 5.2%

Sweden Current Account (QoQ) came in at 57.5B, below expectations (72.5B) in 1Q

Gold Price dribbles around mid-$1,800s amid sour sentiment, firmer USD ahead of US inflation

Gold Price Forecast: XAUUSD downside remains more compelling below 200-DMA

GBP/USD keeps the mixed outlook in place – UOB

WTI oscillates around $118.00, upside looks likely as China reopens

Gold Futures: Downside lacks conviction

USD/CAD pierces 1.2600 on sluggish oil prices, strong USD ahead of second-tier US/Canada data

EUR/USD now moved to a consolidative phase – UOB

Japan Coincident Index registered at 96.8, below expectations (97.5) in April

Japan Leading Economic Index came in at 102.9, above expectations (100.8) in April

AUD/NZD Price Analysis: Rallies 70 pips on RBA’s bold rate hike, bulls eye yearly top near 1.1200

AUD/JPY surges above 96.00 as RBA raises interest rates by 50 bps to 0.85%

AUD/USD jumps back towards 0.7250 on RBA’s surprise 50 bps rate hike

RBA: 50 bps hike will assist with the return of inflation to target over time

Breaking: RBA raises OCR by 50 bps to 0.85%, AUD/USD spikes towards 0.7250

Australia RBA Interest Rate Decision above expectations (0.6%): Actual (0.85%)

Asian Stock Market: Trades positive as DXY loses strength, oil sustains below $120.00

GBP/USD Price Analysis: Bears keep reins near 1.2500, weekly triangle in focus

USD/INR Price News: Indian rupee pares losses below 78.00 on RBI’s rate hike chatters

EUR/USD finds bids around 1.0670, downside remains favored ahead of US inflation and ECB

Gold Price Forecast: XAU/USD baffles around $1,840 as DXY extends gains, US inflation in focus

AUD/USD leans bearish towards 0.7150 on downbeat options market signals ahead of RBA

Commodities. Daily history for Monday, June 6, 2022

S&P 500 Futures drop back to 4,100 as Treasury yields stay firmer ahead of US inflation

BOJ’s Kuroda: If yen moves not too sharp, weak yen is beneficial for Japan’s economy

When is the RBA Interest Rate Decision and how could it affect AUD/USD?

USD/JPY: Extent of upside looks limited by Japan’s intervention risks – Goldman Sachs

USD/JPY leans bullish towards 133.00, renews two-decade high on firmer yields, BOJ’s Kuroda

NZD/USD bears pile on as the greenback rallies

Silver Price Analysis: 200-HMA probes weekly support break as XAG/USD sellers attack $22.00

Japan’s Suzuki: Excess FX volatility, disorderly FX movements to have adverse effect on economy

USD/CNY fix: 6.6649 vs. last close 6.6544

BOJ’s Kuroda: Japan’s economy expected to recover ahead, USD/JPY nears 133.00

GBP/USD sees a downside to near 1.2500 as focus shifts to US inflation

Australia 10-year Treasury yields, ASX 200 portray pre-RBA anxiety

New Zealand ANZ Commodity Price declined to -2.8% in May from previous -1.9%

EUR/USD Price Analysis: Prints three-day downtrend on the way to 1.0630

WTI heading towards a key area of daily support

Gold Price Forecast: XAU/USD eyes further losses below $1,850 on strong USD ahead of US inflation

Stocks. Daily history for Monday, June 6, 2022

AUD/USD Price Analysis: At ‘Make or Break’ to near 0.7200, 200-EMA key support

Currencies. Daily history for Monday, June 6, 2022

USD/JPY Price Analysis: Renews 20-year high above 132.00, bulls eye 138.2% Fibo.

Japan JP Foreign Reserves climbed from previous $1322.2B to $1329.7B in May

US Dollar Index (DXY) steadies above 102.00 amid strong yields ahead of US Inflation

EUR/JPY surges to near 141.40 on advancing hawkish ECB bets

Japan Labor Cash Earnings (YoY) registered at 1.7% above expectations (0.5%) in April

Japan Overall Household Spending (YoY) below expectations (-0.8%) in April: Actual (-1.7%)

USD/CAD Price Analysis: Remains pressured towards 1.2500 support confluence

NZD/USD balances below 0.6500 on higher-than-expected US inflation

United Kingdom BRC Like-For-Like Retail Sales (YoY) above expectations (-3.5%) in May: Actual (-1.5%)

USD/CHF Price Analysis: Rallies close to 100-pips and reclaims 0.9700 on a risk-on mood

Chinese economy is expected to improve in H2 2022 – Securities Journal

EUR/USD eyes further losses below 1.0700 as yields underpin firmer USD

Australia AiG Performance of Services Index dipped from previous 57.8 to 49.2 in May

Gold Price Forecast: XAU/USD looks to break below $1,840 as US inflation is seen stable above 8%

AUD/JPY Price Analysis: Braces for a yearly high near 95.00 ahead of RBA

GBP/USD finds support at the 61.8%, and much like the UK's PM, survives political Monday

AUD/USD desires acceptance around 0.7200, investors await RBA policy, US CPI in focus

GBP/JPY Price Analysis: An inverted head-and-shoulders targeting 167.00

USD/JPY bulls running out of steam on the bid, focus on a 38.2% Fib retracement

South Korea FX Reserves above expectations (447.6B) in May: Actual (447.71B)

Forex Today: Dollar up as recession fears sound out loud

Breaking: UK's parliament does have confidence in the Prime Minister

Gold Price Forecast: XAU/USD hovers above/below the 200-DMA near $1840s

AUD/JPY continues higher with daily resistance ahead as traders await UK PM confidence vote

EUR/USD Price Analysis: Bulls looking to move in on a 4-hour correciton to the 38.2% Fibo

EUR/GBP Price Analysis: Bullish flag looms and target 0.8760s

RBA Preview: Forecasts from eight major banks, 40 bps rate hike?

At least 145 UK conservative lawmakers publicly back Boris Johnson as the confidence vote begins

AUD/USD struggles at 0.7200 ahead of the RBA’s monetary policy meeting

USD/CAD: Risks tilted to the downside on solid growth and aggressive monetary tightening – Wells Fargo

EUR/GBP: Three-month forecast remains at 0.86 – Rabobank

USD/JPY jumps to highest since 2002 above 131.50