Market news

EUR/GBP jumps above 0.8550 on a stronger euro ahead of ECB

Silver Price Forecast: XAG/USD slumps but remains firm at around $22.10s ahead of US inflation data

WTI recovers back above $120 post-US inventory report, as bullish trend remains intact

GBP/USD: Failure to push above 1.26 points to weakness ahead – Scotiabank

ECB Preview: Forecasts from eight major banks, ready for lift-off

EUR/USD: Disappointing ECB decision to pull the pair firmly below 1.06 – Scotiabank

EUR/GBP to rise during the course of the year – Commerzbank

United States EIA Crude Oil Stocks Change above forecasts (-1.917M) in June 3: Actual (2.025M)

USD/CAD Price Analysis: Surrenders modest intraday recovery gains, bears eye 1.2500 mark

Gold Price holds above 200-DMA, upside potential seems limited amid hawkish central banks

United States Wholesale Inventories above forecasts (2.1%) in April: Actual (2.2%)

EUR/USD Price Analysis: Further gains likely above 1.0750

USD/JPY backs off from fresh multi-decade highs near 134.50, with BoJ dovishness/rising global yields in focus

RBA caught markets off-guard in June – UOB

GBP/USD slips to mid-1.2500s, still well within recent ranges as traders mull UK politics/incoming US CPI data

US Dollar Index Price Analysis: Decent resistance emerges at 102.80

ECB expected to keep rates unchanged this week – UOB

S&P 500 Index needs to break above 4178 to resolve the near-term range higher – Credit Suisse

NZD/USD falls back towards sub-0.6450 weekly lows, 21DMA offering support for now

EUR/JPY Price Analysis: Extra gains appear in store near term

USD/CAD: Support at 1.2483/00 set hold to keep the pair within the broader 1.24-1.31 range – Credit Suisse

EUR/CHF: Resistance at 1.0495/0515 has to hold to maintain downside potential – Credit Suisse

EUR/USD rallies into mid-1.0700s as euro bulls take control post-strong EZ GDP data/pre-Thursday’s ECB meeting

Gold Price Forecast: XAUUSD to suffer renewed downside pressure on a dip below $1,787 – Credit Suisse

AUD/USD remains on the defensive near 0.7200 mark, downside seems cushioned

Silver Price Analysis: XAG/USD consolidates near $22.00, within weekly ranges as traders eye US CPI

Chile Core Consumer Price Index (Inflation) (MoM): 1% (May)

Chile Consumer Price Index (Inflation) (MoM) above forecasts (1.05%) in May: Actual (1.2%)

Philippines: Inflation edged further up in May – UOB

United States MBA Mortgage Applications: -6.5% (June 3) vs previous -2.3%

Natural Gas Futures: Up up up you (still) go

USD/CNH keeps the consolidation in place for now – UOB

USD/CHF stands tall near three-week high, just below 0.9800 mark amid stronger USD

Crude Oil Futures: Rally could take a breather soon

Gold Price Forecast: XAUUSD range play to extend around $1,850 ahead of US inflation – Confluence Detector

USD/JPY: Door open to…134.00? – UOB

USD/JPY rallies to fresh two-decade high, bulls eyeing to reclaim 134.00 mark

Germany 10-y Bond Auction rose from previous 0.96% to 1.33%

United Kingdom 10-y Bond Auction climbed from previous 1.925% to 2.296%

EUR/SEK: Restrictive Riksbank unable to lift the krona as ECB starts hiking cycle – Commerzbank

OECD cuts global growth outlook but sees limited stagflation risk

GBP/USD drops to fresh daily low, back closer to 1.2500 amid broad-based USD strength

Eurozone Final GDP arrives at 0.6% QoQ in Q1 vs. 0.3% expected

European Monetary Union Gross Domestic Product s.a. (YoY) came in at 5.4%, above expectations (5.1%) in 1Q

European Monetary Union Employment Change (QoQ) came in at 0.6%, above expectations (0.5%) in 1Q

European Monetary Union Employment Change (YoY) came in at 2.9%, above expectations (2.6%) in 1Q

European Monetary Union Gross Domestic Product s.a. (QoQ) registered at 0.6% above expectations (0.3%) in 1Q

Gold Price Analysis: XAUUSD to trend higher as world faces several years of stagflation – Commerzbank

BOJ to consider issuing bleaker view on output after China lockdowns – Reuters

WTI stays above $118 as IEA's Birol expresses concerns over oil markets

United Kingdom S&P Global Construction PMI came in at 56.4 below forecasts (56.6) in May

BOJ’s Kuroda: Must keep supporting economy by continuing monetary easing

USD/TRY smashes the 17.00 ceiling and prints new 2022 highs

USD/CAD sticks to modest recovery gains near mid-1.2400s, lacks follow-through

Italy Retail Sales n.s.a (YoY) above forecasts (7.2%) in April: Actual (8.4%)

Italy Retail Sales s.a. (MoM) above expectations (-0.2%) in April: Actual (0%)

USD/JPY: Yen selling momentum to persist while US yields remain underpinned – MUFG

BOJ's Kuroda: Must support economy by continuing with current monetary easing

EUR/USD: Potential for a re-price higher of ECB rate hikes expectation to lend support to the euro – OCBC

GBP/JPY clings to strong intraday gains above mid-167.00s, highest since April

USD/JPY: Rally could extend to 140 – Scotiabank

Austria Trade Balance declined to €-1612M in March from previous €-1205.6M

Brent Oil: Weekly close above $139.13 to open the door toward the $147.50 record high – Credit Suisse

Austria Trade Balance rose from previous €-1205.6M to €1612M in March

EUR/USD: Bulls struggle to retake 1.0700

AUDUSD to move back lower toward the 0.6758 mark – Credit Suisse

USD/ZAR to turn back higher as the RSA economy will once again contract significantly – Commerzbank

EUR/USD to resume the core downtrend for an eventual move to parity/0.99 – Credit Suisse

NZD/USD flirts with daily low, around mid-0.6400s amid modest USD strength

USD/RUB drops below 61.00 even as risk-off mood underpins USD rebound

AUDUSD: Unclear Chinese economy to limit gains fueled by RBA’s restrictive approach – Commerzbank

Forex Today: Majors remain quiet ahead of key events

US Dollar Index resumes its uptrend toward 109.25/110.25 after a brief correction – Credit Suisse

AUD/USD: Further upside now seems out of favour – UOB

Sterling to come under depreciation pressure as BoE unlikely to meet rate hike expectations – Commerzbank

France Exports, EUR: €46.74B (April) vs €45.734B

French FinMin Le Maire: inflationary peaks to last several more months

France Imports, EUR climbed from previous €58.11B to €58.896B in April

France Trade Balance EUR above expectations (€-12.2B) in April: Actual (€-12.156B)

France Current Account below forecasts (€-2.1B) in April: Actual (€-3.4B)

US Dollar Index attempts a recovery near 102.50

Silver Price Analysis: XAGUSD to resume its decline towards $18.95/40 – Credit Suisse

FX option expiries for June 8 NY cut

EUR/USD: ECB meeting should support the euro – Commerzbank

EUR/GBP Price Analysis: Inverted Flag advocates more downside, 0.8450 eyed

EUR/JPY to see strength extend to the 149.78 high of 2014 and probably higher – Credit Suisse

USD/JPY to enjoy an eventual move to near 150 – Credit Suisse

USD/CHF Price Analysis: 21-DMA probes buyers around mid-0.9700s

AUDUSD: At risk of falling to the 0.7050/0.7100 area during June – Westpac

Gold Price Analysis: XAUUSD points to additional downside on the horizon – TDS

Japan’s Suzuki: Weak yen has both merits and demerits

Gold Price Analysis: XAUUSD to extend its correction below the $1,842 key support

USD/JPY oscillates around a fresh two-decade high at 133.30, US Inflation in focus

Gold Price looks to retest $1,835 amid bear cross, firmer yields ahead of US inflation

BOJ’s Kuroda: Rapid yen weakening in short period of time as seen recently is undesirable

German Industrial Production rebounds 0.7% MoM in April vs. 1.0% expected

Germany Industrial Production n.s.a. w.d.a. (YoY) climbed from previous -3.5% to -2.2% in April

Germany Industrial Production s.a. (MoM) registered at 0.7%, below expectations (1%) in April

GBP/USD seen erratic around 1.2430-1.2670 – UOB

Norway Manufacturing Output increased to 1% in April from previous 0.6%

United Kingdom Halifax House Prices (YoY/3m) above expectations (10.1%) in May: Actual (10.5%)

United Kingdom Halifax House Prices (MoM) meets forecasts (1%) in May

Gold Futures: Room for a corrective move

Switzerland Unemployment Rate s.a (MoM) meets forecasts (2.2%) in May

AUD/USD Price Analysis: Turns sideways on momentum loss, 200-EMA stays solid

EUR/USD faces further consolidation near term – UOB

USD/CAD Price Analysis: Bounces off yearly support to regain 1.2550

USD/TRY refreshes yearly top with eyes on 17.00 on Fed vs. CBRT bias ahead of US inflation

Japan Eco Watchers Survey: Outlook came in at 52.5, above forecasts (50.4) in May

Japan Eco Watchers Survey: Current above forecasts (49.2) in May: Actual (54)

India Reverse Repo Rate in line with expectations (3.35%)

Asian Stock Market: Mixed on positive DXY, RBI raises repo rate by 50 bps, China Inflation eyed

USD/INR Price News: Indian rupee struggles to cheer RBI’s 50 bps rate hike near 77.70

India RBI Interest Rate Decision (Repo Rate) above expectations (4.8%): Actual (4.9%)

WTI Price Analysis: Mildly offered around $118.00, weekly support defends buyers

EUR/USD tumbles to near 1.0680 as investors await US inflation and ECB

GBP/USD drops back towards 1.2550 as Brexit jitters renew, USD rebound

Gold Price Forecast: XAU/USD steadies around $1,850 as DXY baffles on stable US inflation ahead

NZ FinMin Robertson: 'Confident about the resilience' of economy

NZD/USD juggles below 0.6500, yields surge near 3% ahead of US Inflation

Commodities. Daily history for Tuesday, June 7, 2022

AUD/USD retreats towards 0.7200 despite ex-RBA Governor’s hawkish expectations

China’s Vice Commerce Minister: Foreign trade faces uncertainties and huge pressure

Ex-RBA Governor Macfarlane: Interest rates could rise sharply in order to fight inflation

GBP/USD bulls pressured as US dollar bounces back to life

EUR/USD Price Analysis: Fades bounce off 100-SMA below 1.0700

S&P 500 Futures struggle around 4,150 as Treasury bond yields approach 3.0% mark

USD/CNY fix: 6.6634 vs. last close of 6.6712

USD/JPY crosses 133.00 to refresh 20-year high as yields rebound, US inflation in focus

EUR/JPY registers a fresh seven-year high at 142.30 despite surprisingly better Japan’s GDP

GBP/JPY Price Analysis: Bulls need validation from 168.00 key hurdle

USD/CAD bears in charge and target a breakout for fresh cycle lows

Gold Price Forecast: XAU/USD retreats from $1,855 on USD rebound ahead of US inflation

Stocks. Daily history for Tuesday, June 7, 2022

AUD/USD skids to near 0.7220, upside remain favored on weak DXY, US Inflation buzz

NZD/USD Price Analysis: Extends pullback from weekly resistance below 0.6500

Currencies. Daily history for Tuesday, June 7, 2022

US Dollar Index eyes to regain 102.50 as yields rebound towards 3.0%, US inflation in focus

Japan Gross Domestic Product Deflator (YoY) below expectations (-0.4%) in 1Q: Actual (-0.5%)

Japan's GDP better than expected, yen stays offered

Japan Trade Balance - BOP Basis declined to ¥-688.4B in April from previous ¥-166.1B

Japan Gross Domestic Product Annualized came in at -0.5%, above expectations (-1%) in 1Q

Japan Gross Domestic Product (QoQ) above forecasts (-0.3%) in 1Q: Actual (-0.1%)

Japan Bank Lending (YoY) came in at 0.7%, below expectations (1.2%) in May

Japan Current Account n.s.a. came in at ¥501.1B, below expectations (¥511B) in April

AUD/JPY Price Analysis: Bulls struggle to defend 96.00 inside weekly rising channel

WTI extends its consolidation towards $118.00, oil stockpiles advance unexpectedly

EUR/USD fades bounce off weekly low near 1.0700 on steady yields, ECB, US inflation eyed

NZ FinMin Robertson: Monetary policy is supporting fiscal policy

USD/JPY juggles around 132.70 ahead of Japan’s GDP, US Inflation in focus

South Korea Gross Domestic Product Growth (YoY) came in at 3%, below expectations (3.1%) in 1Q

South Korea Gross Domestic Product Growth (QoQ) came in at 0.6% below forecasts (0.7%) in 1Q

Silver Price Forecast: XAG/USD remains firm at around $22.20s, ahead of US CPI

GBP/USD Price Analysis: Bulls approach 1.2600, recovery needs validation from 50-DMA

Gold Price Forecast: XAU/USD establishes above $1,850 as DXY weakens, focus is on US Inflation

AUD/USD bulls hanging in there but face firm resistance ahead

USD/CAD ignores sluggish oil around seven-week low near 1.2530 as USD traces softer yields

USD/CHF gauges cushion around 0.9720 ahead of US Inflation, Swiss Unemployment Rate eyed

GBP/JPY Price Analysis: The inverted head-and-shoulders target was achived, hovers around 167.00

United States API Weekly Crude Oil Stock: 1.845M (June 3) vs -1.181M

Chile BCCH Interest Rate in line with expectations (9%) in June

NZD/USD bulls face-off with bears and meet an important area of resistance

EUR/USD climbs but clings to the 1.0700 area ahead of the ECB decision

AUD/JPY bulls staying with the course and eye higher highs in the strong bull cycle

Forex Today: Economic uncertainty spurs volatility

United States 3-Year Note Auction up to 2.927% from previous 2.809%

United States Consumer Credit Change came in at $38.07B, above forecasts ($35B) in April

EUR/JPY Price Analysis: Steady near the 7-year high, hovers around 141.80s

Gold Price Forecast: XAU/USD bears are lurking on continued failiures of a bullish breakout

GBP/USD marches firmly to fresh-weekly high but shy of 1.2600 on UK political turmoil

AUD/USD forecast to reach 0.6900 by the end of 2022 – Wells Fargo

USD/MXN Price Analysis: Consolidating, unable to break under 19.50

Canada: Growth in exports moderates – NFB