DXY around 99.80 – 100.04
May CPI reached 4.2% (highest since April 2023), in line with forecasts, not shocking. The market still expects the Fed to raise interest rates later in the year.
DXY Support: 99.60 – 99.38; Resistance: 100.20 – 100.64.
Gold plunges to $4,205/ounce, nearing $4,000
Double pressure from a strong USD, high inflation, and expectations of rising interest rates. Gold has lost the $4,300 mark.
Support: $4,070 – $4,000 – $3,950; Resistance: $4,250 – $4,300.
WTI oil trades at $85 – $90/barrel
Trump declares Iran "will pay a price" if no agreement is reached. Tensions escalate, but the US claims to have escorted 100 million barrels of oil through the Strait of Hormuz.
Support: $84.87 – $82.89; Resistance: $92.83 – $94.92.
ASX200 falls 0.2% to 8,633 points
The short-lived recovery ended. Essential (+3.9%) and non-essential (+3.6%) led the way, but materials (-11%) and gold (-4%) fell sharply. Steadfast Group (+36%) received a $6.7 billion takeover offer.
NZX50 falls 0.4% to 13,202 points
Closed at a two-week low. KMD Brands (+9.3%) stood out on takeover rumors.
Major Currency Pairs
AUD/USD: 0.7034 – weak, testing support at 0.6960 – 0.6900.
GBP/USD: 1.3408 – fluctuating around 1.3400, resistance 1.3420 – 1.3430.
USD/JPY: 160.08 – risk of intervention, resistance 160.73 – 161.00.
EUR/USD: 1.1570 – ECB meeting yesterday (25bp interest rate hike), support 1.1499.
ANALYSIS & ADVICE
Dollar: Strong, high CPI reinforces hawkish stance. DXY could reach 101 if data continues to support it.
Gold: Under immense pressure, the $4,000 level is the last psychological support. Wait for a clear reversal signal.
Oil: A tug-of-war between geopolitical tensions and US efforts to control prices. Trading range: $85-93 USD.
Australian stocks: Weak recovery, watch RBA interest rate decision on June 16th.
TODAY: US PPI DATA – MAY CAUSE FURTHER MARKET VOLATILITY.
May CPI reached 4.2% (highest since April 2023), in line with forecasts, not shocking. The market still expects the Fed to raise interest rates later in the year.
DXY Support: 99.60 – 99.38; Resistance: 100.20 – 100.64.
Gold plunges to $4,205/ounce, nearing $4,000
Double pressure from a strong USD, high inflation, and expectations of rising interest rates. Gold has lost the $4,300 mark.
Support: $4,070 – $4,000 – $3,950; Resistance: $4,250 – $4,300.
WTI oil trades at $85 – $90/barrel
Trump declares Iran "will pay a price" if no agreement is reached. Tensions escalate, but the US claims to have escorted 100 million barrels of oil through the Strait of Hormuz.
Support: $84.87 – $82.89; Resistance: $92.83 – $94.92.
ASX200 falls 0.2% to 8,633 points
The short-lived recovery ended. Essential (+3.9%) and non-essential (+3.6%) led the way, but materials (-11%) and gold (-4%) fell sharply. Steadfast Group (+36%) received a $6.7 billion takeover offer.
NZX50 falls 0.4% to 13,202 points
Closed at a two-week low. KMD Brands (+9.3%) stood out on takeover rumors.
Major Currency Pairs
AUD/USD: 0.7034 – weak, testing support at 0.6960 – 0.6900.
GBP/USD: 1.3408 – fluctuating around 1.3400, resistance 1.3420 – 1.3430.
USD/JPY: 160.08 – risk of intervention, resistance 160.73 – 161.00.
EUR/USD: 1.1570 – ECB meeting yesterday (25bp interest rate hike), support 1.1499.
ANALYSIS & ADVICE
Dollar: Strong, high CPI reinforces hawkish stance. DXY could reach 101 if data continues to support it.
Gold: Under immense pressure, the $4,000 level is the last psychological support. Wait for a clear reversal signal.
Oil: A tug-of-war between geopolitical tensions and US efforts to control prices. Trading range: $85-93 USD.
Australian stocks: Weak recovery, watch RBA interest rate decision on June 16th.
TODAY: US PPI DATA – MAY CAUSE FURTHER MARKET VOLATILITY.
