Market news

EUR/USD drops to one-week lows under 1.0650 as dollar strengthens

USD/CAD rallies near 1.2650 post-US data as BoC Macklem speaks

AUD/USD slumps to fresh weekly lows around 0.7120, eyes 21DMA as ECB hits risk appetite

United States EIA Natural Gas Storage Change above expectations (96B) in June 3: Actual (97B)

Gold Price remains vulnerable near 200-day SMA, bears await US CPI on Friday

BoC: Paying particular attention to the greater number of households carrying high levels of mortgage debt

Silver Price Analysis: XAG/USD drops 1.0% following ECB, but well within recent ranges pre-US CPI/Fed meeting

EUR/USD Price Analysis: Looks neutral/bearish near term

ECB President Lagarde: Will not tolerate fragmentation that would impair transmission of monetary policy

EUR/USD suffers altitude sickness near 1.0770, recedes to 1.0700

ECB President Lagarde: It is good practise to start with incremental rate increase

ECB President Lagarde: Need to ensure fragmentation doesn't prevent the transmission of monetary policy

Russia Central Bank Reserves $: $591.3B vs $589.6B

ECB President Lagarde: Inflation has broadened, is undesirably high and is a major challenge

US: Weekly Initial Jobless Claims rise to 229K vs. 210K expected

AUDUSD to move back lower toward 0.71 – Westpac

United States Continuing Jobless Claims came in at 1.306M, above expectations (1.305M) in May 27

United States Initial Jobless Claims came in at 229K, above forecasts (210K) in June 3

UK PM Johnson: The time has come to start cutting taxes and regulation

United States Initial Jobless Claims 4-week average up to 215K in June 3 from previous 206.5K

EUR/USD: Unlikely to push higher as the ECB still focusing on ‘gradualism’ – TDS

UK PM Johnson: Our position now is better than in past economic difficulties

BoJ: Uneventful as usual? – UOB

EUR/USD picks up extra pace near 1.0750 post-ECB

Brazil IPCA Inflation below expectations (0.6%) in May: Actual (0.47%)

EUR/GBP reverses post-ECB dip, sticks to modest gains around mid-0.8500s ahead of Lagarde

European Monetary Union ECB Deposit Rate Decision meets forecasts (-0.5%)

European Monetary Union ECB Interest Rate Decision meets expectations (0%)

Breaking: ECB leaves rates unchanged at -0.50% as expected, signals end to QE and 25 bps hike in July

GBP/USD languishes in low-1.2500s, within recent ranges as key risk events loom

US Dollar Index Price Analysis: Further upside in store above 101.30

ECB Press Conference: Lagarde speech live stream – June 9

Mexico 12-Month Inflation above expectations (7.62%) in May: Actual (7.65%)

South Africa Manufacturing Production Index (YoY) came in at -7.8%, below expectations (-2.6%) in April

Mexico Headline Inflation above expectations (0.15%) in May: Actual (0.18%)

Mexico Core Inflation above expectations (0.55%) in May: Actual (0.59%)

EUR/JPY Price Analysis: Technical correction looks likely

When is the European Central Bank (ECB) rate decision and how could it affect EUR/USD?

Silver Price Analysis: XAG/USD seems vulnerable near $22.00 mark, 23.6% Fibo. level

Portugal Global Trade Balance declined to €-7.126B in April from previous €-6.646B

Ireland HICP (MoM) climbed from previous 0.9% to 1.1% in May

Ireland HICP (YoY) up to 8.3% in May from previous 7.3%

Ireland Consumer Price Index (MoM) remains unchanged at 0.9% in May

Ireland Consumer Price Index (YoY): 7.8% (May) vs 7%

BoE points to another 25 bps rate hike next week – UOB

USD/JPY Price Analysis: Finds some support near 23.6% Fibo. level, around 133.35-30 area

No doubts of a 50 bps hike by the Fed – UOB

NZD/USD set to suffer a pullback toward 0.6350 – Westpac

EUR/USD looks wary, clings to 1.0700 ahead of the ECB

Greece Consumer Price Index (YoY) rose from previous 10.2% to 11.3% in May

Greece Consumer Price Index - Harmonized (YoY) climbed from previous 9.1% to 10.5% in May

USD/JPY: Break of 135.20 to open up a lot of clear skies – Westpac

EUR/GBP sticks to gains near mid-0.8500s, eyes ECB decision for fresh impetus

EUR/USD to hold in a 1.05-1.09 range near-term – Westpac

GBP/USD to see an extension of the recent range of 1.2430-1.2600 – Westpac

Gold Price Forecast: XAUUSD to shrug off ECB meeting – Commerzbank

USD/CNH remains poised for further range bound – UOB

US Dollar Index: Bulls appear doubtful around 102.50 ahead of data, ECB

USD/CHF hits fresh three-week high, bulls await sustained move beyond 0.9800 mark

GBP/JPY retreats further from multi-year peak, drops back closer to 167.00 mark

USD/JPY: Further upside remains well on the cards – UOB

EUR/USD: Further upside scope unless Lagarde excludes 50 bps rate hike in July – MUFG

USD/JPY: Yen weakness to accelerate further on a break above 135.15 – MUFG

USD/RUB plummets to fortnight low near 59.10 on downbeat USD, ECB, US inflation eyed

USD/ZAR to end up closer to 16 than 15 over the next one to two months – ING

EUR/USD to fall closer to 1.05 unless ECB keep a 50 bp rate hike on the table for July – ING

UK’s Gove: Will not challenge PM Johnson for leadership

USD/CAD steadily climbs to 1.2575 area amid retreating oil prices/modest USD strength

EUR/USD could break out of the 1.0660-1.0760 range depending on the ECB's tone

EUR/CZK could return towards the 24.30 levels soon – Commerzbank

Natural Gas Futures: Further decline looks limited

EUR/JPY Price Analysis: Snaps 10-day uptrend, focus on weekly support near 143.50, ECB

EUR/GBP Price Analysis: Golden cross in the making ahead of ECB

USD/JPY: The yen remains a “sell on rallies” – Commerzbank

EUR/USD to settle back into the 1.07 area following ECB meeting – Commerzbank

NZD/USD: Room for further consolidation short term – UOB

Gold Price Forecast: XAUUSD to test the $1,842 support on selling resurgence

AUD/USD struggles around 0.7180 despite upbeat China trade data, US Inflation eyed

Gold Price teases bulls around $1,850 ahead of ECB, US inflation

Crude Oil Futures: Rally could face an air pocket

Denmark Current Account dipped from previous 25.3B to 19.1B in April

Sweden Industrial Production Value (YoY): 0.1% (April) vs previous 0.8%

Denmark Trade Balance declined to 13.6B in April from previous 24.6B

Japan Machine Tool Orders (YoY): 23.7% (May) vs previous 25%

Sweden Industrial Production Value (MoM): -0.6% (April) vs previous 0.4%

Sweden New Orders Manufacturing (YoY) climbed from previous 6.5% to 7.4% in April

Forex Today: Calm before the ECB storm

GBP/USD keeps the erratic activity within 1.2430-1.2670 – UOB

Gold Futures: No change to the consolidative stance

USD/TRY Price Analysis: Firmer rebound from 17.00 warrants more upside

GBP/USD Price Analysis: Drops back towards 21-DMA support around 1.2500

France Nonfarm Payrolls (QoQ) in line with expectations (0.3%) in 1Q

FX option expiries for June 9 NY cut

EUR/USD keeps the range bound theme unchanged – UOB

NZD/USD pares intraday losses around 0.6450 on softer USD, upbeat China data

Yen shows significant value as a recession hedge – Goldman Sachs

USD/JPY attempts a rebound from 133.80, downside looks likely on improved risk appetite

WTI Price Analysis: Pullback remains elusive beyond $119.70

Asian Stock Market: Growth, inflation fears keep bears hopeful ahead of ECB, US CPI

Netherlands, The Consumer Price Index n.s.a (YoY) declined to 8.8% in May from previous 9.6%

EUR/USD aims to recapture 1.0750 ahead of ECB and US Inflation

USD/INR Price Analysis: Three-week-old hurdle defends Indian rupee buyers

USD/CAD Price Analysis: Momentum loss favors greenback bulls, 1.2600 a potential hurdle

Gold Price Forecast: XAU/USD extends bounce off $1,851 support confluence on softer USD

AUD/USD keeps range around 0.7180 on upbeat China trade data

China’s May Trade Balance: Surplus balloons on exports surge

China Trade Balance CNY above expectations (443.88B) in May: Actual (502.89B)

China Exports (YoY) CNY came in at 15.3%, above expectations (13.1%) in May

China Imports (YoY) above expectations (2%) in May: Actual (4.1%)

China Exports (YoY) registered at 16.9% above expectations (8%) in May

China Exports (YoY) came in at 4.1%, below expectations (8%) in May

China Exports (YoY) CNY above forecasts (13.1%) in May: Actual (16.9%)

China Trade Balance USD came in at $78.76B, above expectations ($58B) in May

China Exports (YoY) CNY below forecasts (13.1%) in May: Actual (11.4%)

US Treasury Sec. Yellen: Biden Administration looking to make China tariffs more ‘stratetic’

GBP/USD declines towards 1.2500 amid risk-off impulse, US Inflation in focus

Coronavirus Update: Shanghai heightens restrictions after cases spike, Minhang locked down

Commodities. Daily history for Wednesday, June 8, 2022

EUR/USD Price Analysis: Retreats towards 1.0700 inside bull flag, RSI divergence, ECB in focus

USD/CHF struggles near 0.9800 amid pre-ECB anxiety, risk-aversion ahead of US inflation

IMF’s Salgado: Weak yen helps BOJ inflation target while it negatively impacts households

UK economic growth will 'grind to a halt' and 10% inflation on the way

ECB: All eyes on Lagarde’s guidance on pace of July lift-off – Scotiabank

RBNZ: Will begin five-year exit from QE bond holdings in July

AUD/USD Price Analysis: Tumbles towards 0.7155 support confluence

USD/CNY fix: 6.6811 vs. the last close of 6.6850

S&P 500 Futures, US Treasury bond yields remain pressured ahead of ECB, US inflation

Gold Price Analysis: XAU/USD bears home in on the 61.8% golden ratio

USD/JPY portrays market’s indecision around 20-year top past 134.00, ECB, US inflation eyed

WTI establishes above $120.00 despite higher EIA oil stockpiles

NZD/USD Price Analysis: Pokes immediate support with eyes on 0.6420 retest

Copper Price Analysis: Accumulation along a 61.8% golden ratio in action

Stocks. Daily history for Wednesday, June 8, 2022

Currencies. Daily history for Wednesday, June 8, 2022

GBP/USD Price Analysis: Darvas Box favors volatility expansion above 1.2600

EUR/USD sellers attack 1.0700 as pre-ECB anxiety escalates

Japan Money Supply M2+CD (YoY) below expectations (4.4%) in May: Actual (3.2%)

Japan Foreign Bond Investment climbed from previous ¥-1138.9B to ¥-840.8B in June 3

Japan Foreign Investment in Japan Stocks: ¥-122.2B (June 3) vs previous ¥0.9B

US Dollar Index Price Analysis: Rising wedge tease DXY bears near 102.50

AUD/JPY sees an upside to near 97.00, yen weakens on prolonged dovish BOJ

USD/JPY Price Analysis: Stills around 20-year highs, as traders eye 135.00

AUD/USD eases below 0.7200 as inflation, growth fears favor USD, China trade data eyed

United Kingdom RICS Housing Price Balance below expectations (76%) in May: Actual (73%)

Gold Price Forecast: XAU/USD rebounds firmly from $1,850 as DXY turns sideways, US Inflation eyed

USD/CAD retreats towards multi-day low under 1.2600 as oil flirts with three-month high

EUR/JPY skyrockets near 144.00 ahead of the ECB policy meeting

EUR/USD Price Analysis: Bears are stalling bullish advances at key resistance, 50% mean reversion eyed

Silver Price Analysis: XAG/USD stays pressured around $22.00, approaches monthly support

USD/CHF marches towards 0.9800 as focus shifts to US Inflation

US inflation expectations stay firmer around one-month top ahead of CPI

AUD/USD Price Analysis: Symmetrical Triangle shouts volatility contraction

GBP/JPY Price Analysis: Surges 150 pips and records a fresh 7-year high at 168.53

NZD/USD is on the backfoot ahead of the ECB

Forex Today: Calm ahead of the ECB storm

Gold Price Forecast: XAU/USD bulls flexing but a 50% mean reversion could on in the making

GBP/USD struggles near 1.2600 and retraces to 1.2530s, on risk-aversion

EUR/USD bears pile in on stronger US yields and force the bulls into retreat mode

United States 10-Year Note Auction: 3.03% vs 2.943%

USD/CAD bulls take over to safeguard against a move towards April 21 lows

AUD/USD pares post-RBA’s gains slides below 0.7200 ahead of Friday’s US CPI data

USD: Fed tigthening should result in dollar strength against most G10 currencies – Wells Fargo

Russia Consumer Price Index (MoM) below forecasts (0.3%) in May: Actual (0.1%)

USD/JPY: Softer US yields may be necessary to bring the pair down – Rabobank

USD/CHF Price Analysis: Marches firmly towards solid resistance around 0.9800

Gold Price Forecast: XAU/USD rises to three-day highs, above 1855$